H.B. No. 4568 seeks to amend the Texas moving image industry incentive program by establishing the Texas moving image industry incentive fund and setting forth eligibility criteria for grants. The bill introduces a new definition for "incentive fund" and emphasizes that grants should not support inappropriate content or negatively portray Texas. It specifies that the fund will be administered by the office and can be utilized without legislative appropriation for awarding grants and managing assets. Additionally, the bill raises the minimum in-state spending threshold for production companies from $250,000 to $500,000 and implements a tiered system for the percentage of Texas residents in the production crew, which will increase over the coming years. It also outlines ineligible project types, such as pornography and political advertising, and details the content review process prior to grant approval.

Furthermore, the bill grants the office discretion to designate moving image projects as Texas heritage projects based on their potential impact on family values and the portrayal of Texas. It establishes qualifications for rural filming and postproduction grants, including spending thresholds and in-state production requirements, and allows for multiple grants for qualifying projects in economically distressed areas. A significant provision requires the comptroller to deposit $500 million into the incentive fund every biennium from tax proceeds. The bill includes sunset provisions for certain sections, set to expire on August 31, 2035, and establishes that grants awarded during the interim will adhere to the amended laws, with an effective date of September 1, 2025.

Statutes affected:
Introduced: Government Code 485.021, Government Code 485.022, Government Code 485.023, Government Code 485.024, Government Code 485.025, Tax Code 151.801 (Government Code 485, Tax Code 151)