Texas House approves $1.5 billion plan to attract movie and TV production
The Brief
The Texas House approved SB 22, which would boost funding for the state's film and TV production incentive program.
The bill allocates $1.5 billion over 10 years, with $500 million distributed every two years through 2025.
Supporters say it will bring more high-dollar production to Texas and boost economic development.
TEXAS - The Texas House has approved a bill that would significantly increase the amount of tax dollars used to attract movie and television productions to the state.
What we know
Senate Bill 22 would expand funding for the Texas Moving Image Industry Incentive Program, which was made to draw more media production to Texas.
The Senate passed the bill in April, approving up to $1.5 billion in funding over the next 10 years. SB 22 allocates $500 million every two years through Sept. 1, 2035.
While this dollar amount represents an initial budget approval, the final cost could still change.
The new funding more than doubles Texas' current investment in film and television production.
Supporters say the bill is designed to attract high-dollar productions and help economic growth in Texas.
Actors Matthew McConaughey and Woody Harrelson testified in support of the bill in front the Texas Senate Finance Committee in March.
Dig deeper
Although Texas is home to many iconic stories, several recent films set in the state have been shot elsewhere.
States like New Mexico and Louisiana currently offer more competitive incentives, pulling media production away from Texas.
The Source
Information in this article comes from the Texas Legislature and previous FOX 4 coverage.
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