| 1 | 1 | | By: Gervin-Hawkins H.B. No. 4431 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to tax credits against franchise tax and sales and use tax |
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| 7 | 7 | | for the moving image industry in this state. |
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| 8 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 9 | 9 | | SECTION 1. Subchapter H, Chapter 151, Tax Code, is amended |
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| 10 | 10 | | by adding Section 151.360 to read as follows: |
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| 11 | 11 | | Sec. 151.360. CERTAIN FILM EXPENDITURES. |
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| 12 | 12 | | A person is entitled to a credit against taxes imposed under |
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| 13 | 13 | | this chapter in an amount equal to 30 percent of in-state |
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| 14 | 14 | | expenditures related to the making of a film. |
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| 15 | 15 | | SECTION 2. Chapter 171, Tax Code, is amended by adding |
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| 16 | 16 | | Subchapter N to read as follows: |
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| 17 | 17 | | SUBCHAPTER N. TAX CREDIT FOR CERTAIN FILM EXPENDITURES |
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| 18 | 18 | | Sec. 171.701. CREDIT FOR CERTAIN FILM EXPENDITURES. |
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| 19 | 19 | | A taxable entity is entitled to a credit against tax imposed |
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| 20 | 20 | | under this chapter in an amount equal to 30 percent of in-state |
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| 21 | 21 | | expenditures related to the making of a film. |
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| 22 | 22 | | SECTION 3. This Act takes effect immediately if it receives |
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| 23 | 23 | | a vote of two-thirds of all the members elected to each house, as |
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| 24 | 24 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 25 | 25 | | Act does not receive the vote necessary for immediate effect, this |
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| 26 | 26 | | Act takes effect September 1, 2021. |
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