H.B. No. 139 proposes the repeal of the Moving Image Incentive Program as outlined in Subchapter B, Chapter 485 of the Government Code, effective September 1, 2025. This repeal signifies the discontinuation of the program aimed at incentivizing the film and media industry in Texas.

Additionally, the bill mandates that any funds previously allocated to the Moving Image Incentive Program be redirected to the Texas Education Agency. This transfer is intended to help lower the state compression percentage under Section 48.255 of the Education Code for the fiscal biennium beginning September 1, 2025. The bill is set to take effect immediately upon receiving a two-thirds majority vote from both houses of the legislature; otherwise, it will become effective 91 days after the legislative session concludes.