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A Resolution urging the Tennessee General Assembly to support an amendment to the budget of the State of Tennessee for the fiscal year beginning July 1, 2022, to increase funding for film and television incentives.
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WHEREAS, State Senator Heidi Campbell and State Representative John Ray Clemmons have introduced an amendment to the budget of the State of Tennessee for the fiscal year beginning July 1, 2022, currently pending as SB2897/HB2882; and
WHEREAS, this amendment requests an additional $5 million appropriation to the Film and Television Incentive Fund in this year's budget; and
WHEREAS, Tennessee's entertainment sector includes more than 28,000 workers at 1,500 businesses. Over the last decade, motion picture and video production has grown by 57 percent and music production has grown by 37 percent; and
WHEREAS, the Tennessee Entertainment Commission plays a key role in developing this industry by supporting and promoting its workforce, business services, and talent; by recruiting new entertainment projects to the state; and by helping local productions grow and enhance business; and
WHEREAS, the Film and Television Incentive Fund is the most important tool in achieving the Tennessee Entertainment Commission's purpose; and
WHEREAS, the Tennessee Visual Content Modernization Act of 2018 and the Tennessee Entertainment Development Act of 2021 have placed new pressure on the Fund by expanding the number of businesses that qualify for incentives; and
WHEREAS, as currently budgeted, the Film and Television Incentive Fund will receive only $2 million. This proposed amendment would request an additional $5 million, bringing the total allocation to $7 million; and
WHEREAS, increasing the amount of available incentives will assist in boosting Nashville's entertainment economy including but not limited to music, film, video games and virtual reality projects by providing support for local artists and promoting these entertainment projects to ...
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