Texas' motion picture industry got a
long-awaited boost from the Texas Senate Thursday, May 17, when a bill was
passed earmarking $20 million worth of incentives for in-state productions.
Projects completed after
Sept. 1 will be eligible for a rebate of up to 5 percent of their costs, or a
maximum of $2 million. Film industry analysts say this will attract productions
from nearby states with similar incentive laws, like
New
Mexico and
Louisiana, which have siphoned production
away from Texas.
A film must spend $1
million in Texas to qualify, including wages and
equipment. Vehicle rentals in Texas, for example, or the hiring of a
local catering company would help a production qualify for the rebate.
After the project is
completed, the company would need to verify the cash it spent. A greater
incentive—an extra 1.5 percent—exists for "underserved areas," which include
everywhere but Dallas and Austin.
