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Senate Bill 1929 |
Senate Author: Watson et al. |
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Effective: 9-1-09 |
House Sponsor: Anchia |
Senate Bill 1929 amends the Government Code to require the Music, Film, Television, and Multimedia Office within the office of the governor to administer the media production development zone program to provide a state sales and use tax exemption for items used for media production facilities in designated media production locations in approved media production development zones. The bill requires the office and the comptroller's office to jointly establish criteria and procedures for approval of a media production development zone, designation of a qualified media production location, and certification of a qualified person entitled to a tax exemption at a qualified media production location. The bill establishes criteria for media production development zone recognition and qualified media production location designation, and it limits the number of zones and locations throughout the state and the period of approval or designation. The bill describes a process for the designation of a qualified media production location nominated by the governing body of a municipality or county, and it prohibits the designation until the comptroller certifies that the project or activity to be conducted at the location will have a positive impact on state revenue. The bill creates an advisory committee to make recommendations to the office for designation of qualified media production locations and establishes reporting requirements for the governing body of a qualified media production location, a qualified person at the location, and the office. The annual report of the office must be submitted to the governor, the legislature, and the Legislative Budget Board by December 15 of each year. The bill amends the Tax Code to establish a state sales and use tax exemption for items sold to or used to construct, maintain, expand, improve, equip, or renovate media production facilities at media production locations.