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.

Additionally, the bill mandates that the comptroller transfer any remaining appropriated funds from the Moving Image Incentive Program to the Texas Education Agency. This transfer is intended to help reduce the state compression percentage under Section 48.255 of the Education Code to the lowest possible level for the state fiscal biennium beginning September 1, 2025. The bill will take effect immediately if it secures a two-thirds majority vote in both houses; otherwise, it will become effective 91 days after the legislative session concludes.