Will a tax credit make life better or harder for Texas filmmakers? Advocates worry the Legislature's plan would increase production but hurt local talent.
Over the last 17 years, the Texas Moving Image Industry Incentive Program has relied on limited and variable appropriations from the Texas legislature to attract in-state production. Now a proposal for a tax credit system would potentially increase the amount of money made available - but industry and legislative insiders worry that the proposal could undermine the good TMIIIP has done for the Texas film, TV, commercial, VR, and gaming industries.
The rest of the day was filled with smaller ticket tourism and wildlife bills, like whether electric bikes should be banned from state parks, and designating Mineral Wells as the official Wellness Capital of Texas. However, the committee also voted to send House Bill 3600 by Rep. Four Price, R-Amarillo, to the full House, a bill with a potential billion dollar price tag.
The proposal in HB3600 is to establish a new Texas Multimedia Production Program. Overall, it's based on the Film Tax Incentive, the highly successful tax credit program adopted by Georgia, but with several key differences: the biggest being that, unlike Georgia, Texas doesn't have personal income tax, the largest single sum in calculating credits in the Peach State.
It's the residency issue that has some industry insiders most worried. In discussions, a compromise 55% proposal has been broached. Also, it's been noted that Sen. Charles Perry, R-San Angelo, who has authored the Senate version of this bill may be open to upping the minimum – possibly as early as this Wednesday, when his version is scheduled for a hearing in the Senate Natural Resources & Economic Development Committee. More importantly, there are big questions over whether Gov.
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