After a star-studded Senate committee hearing featuring actor Matthew McConaughey, the Texas Moving Image Industry Incentive Program (TMIIIP) — promoting Texas as the “new Hollywood” — passed the upper chamber, and awaits its hearing in the House.
Senate Bill (SB) 22, one of Lt. Gov. Dan Patrick’s priorities for the 89th Legislative Session and carried by state Sen. Joan Huffman (R-Houston), allocates a $498 million grant for the establishment of “Texas as America’s film capital” through offering tax breaks for certain categories of filmmakers. The grant will be divided into two parts: new tax credits as high as $450 million for productions, and $48 million designated for TV commercials and small films — a little over 2 percent of the state’s projected $23.8 billion surplus.
