The bill, introduced by Representative Bumgarner, seeks to bolster film and television production in Texas through the establishment of new funding mechanisms and educational initiatives. It proposes the creation of virtual film production institutes at Texas A&M University and Texas State University, aimed at providing resources for students interested in the virtual film industry. Key provisions include the introduction of a film events trust fund and a film production tax rebate trust fund, which will support various media productions in the state. The bill also defines "film or television production" and "film or television production organization," broadening the scope of eligible multimedia activities and allowing for funding eligibility for film events selected by site selection organizations.

Additionally, the bill amends various sections of the Government Code to enhance media production development zones and qualified media production locations. It expands the definition of facilities to include virtual production facilities and broadens the definition of "nominating body" to include institutions of higher education. Significant changes include extending the maximum duration for designations as qualified media production locations from two years to four years and establishing entitlement benefits for media production facility construction starting January 1, 2025. The bill also repeals a previous limitation on the number of designations for media production locations, streamlining the application process. Overall, these amendments aim to foster economic growth in the media production sector, with the bill set to take effect on September 1, 2025.

Statutes affected:
Introduced: Government Code 475.0001, Government Code 478.0001, Government Code 478.0051, Government Code 151.3415 (Government Code 478, Government Code 151, Government Code 475)