H.B. No. 116 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 legislative action aims to discontinue the program and redirect any funds previously allocated to it. Specifically, the bill mandates that the comptroller transfer these funds to the Texas Education Agency for the state fiscal biennium starting on the same date, with the goal of reducing the state compression percentage under Section 48.255 of the Education Code to the lowest possible level.

The bill stipulates that it will take effect immediately if it secures a two-thirds majority vote from all elected members in both houses of the legislature. If the necessary vote is not achieved, the bill will come into effect 91 days after the conclusion of the legislative session.