Texas Boosts Film Incentive Program to $150 Million a Year
Texas’ film incentive program is getting a boost after Gov. Greg Abbott allowed a bill to become law on Sunday that will increase its funding to $300 million every two years, up from $200 million, which will run through 2035.
The original proposal, which was backed by Lt. Gov. Dan Patrick and Hollywood heavyweights including Matthew McConaughey, Taylor Sheridan, Woody Harrelson and Dennis Quaid, would have allocated $500 million every two years, but was trimmed by the House last month. The amended version was approved by 23 to 8 by the Senate.
The move comes as the Lone Star State looks to lure television and film productions away from local rivals such as New Mexico and Georgia.
Senate Bill 22 allows the comptroller to deposit the funding into a new Texas Moving Image Industry Incentive Fund. Eligible expenses that would be covered by the fund’s incentives would cover include wages for Texas workers, meals purchased from local restaurants and airfare on Texas-based airlines.
More to come…
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