Legislation introduced in Texas on Tuesday proposed supplements to existing grant programs that could bring huge television and film productions to the state.
The bill would create a new, uncapped scheme to target big-budget projects costing at least $15,000,000, with eligible productions receiving a 30 percent base transferable tax credit that could reach 42.5 percent in certain areas, according to The Hollywood Reporter. Compensation for talent will also qualify for incentives under the new bill.
Neighboring states of New Mexico, Louisiana, and Oklahoma received a total of more than $1.5 billion into their economies in 2022 thanks to similar tax credit programs, the Reporter continued. Texas Republican state Rep. Four Price authored the bill, saying that there was a “growing interest in content production,” in the state. “This is an industry we can do better,” he said, according the outlet. “There’s a lot of appetite here for film production in particular.”
Get ready for even more Yellowstone https://t.co/DAaZc5oq1A
— Daily Caller (@DailyCaller) January 31, 2023
Could it be that Price is alluding to “Yellowstone” co-creator Taylor Sheridan, who is trying to launch his next series, “6666” (pronounced Four Sixes), in the state? “6666” is a real ranch in Texas, and is owned by Sheridan and others. The series would be one of many spin-offs from the original “Yellowstone” series, which appears to be coming to an end soon. (RELATED: ‘Yellowstone’ Creator Reportedly ‘Furious’ With Kevin Costner)
Several hit movies set in Texas — including “Hell or High Water,” “Dallas Buyers Club” and “Vengeance” — were actually filmed in neighboring states. It would make much more sense for the state to offer more tax breaks for filming in order to draw those projects to Texas. The Reporter noted that “the perception on tax credits in the state is changing, at least in part due to Sheridan’s ‘Yellowstone,’ which shot in North Texas.”
We knew that Sheridan was into politics, but now his incredible work may be affecting the agenda in more ways than one. Considering how much money “Yellowstone” brought to Montana, it would make sense for Texas to follow suit.