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2026 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Reid
Boon-To-Livelihoods Grant Program

Item 114 #2h

Item 114 #2h

First Year - FY2027 Second Year - FY2028
Commerce and Trade
Virginia Tourism Authority FY2027 $10,000,000 FY2028 $0 GF

Language
Page 120, line 25, strike "$31,385,719" and insert "$41,385,719".

Page 122, after line 17, insert:

"Q.1. There is created the Boon-To-Livelihoods (BTL) Fund (the Fund) to be used, in the sole discretion of the Governor and the Virginia Tourism Authority, to support the film and video industries in Virginia by providing the means for attracting production companies and producers who make their projects in the Commonwealth using Virginia employees, goods and services. The Fund shall consist of any moneys appropriated to it in the general appropriation act or revenue from any other source. The Fund shall be established on the books of the Comptroller and any moneys remaining in the Fund at the end of a biennium shall not revert to the general fund but shall remain in the Fund. Interest earned on the Fund shall be credited to the Fund.

2. The Virginia Tourism Authority shall award grants from the Fund to a production company with minimum qualifying expenses of at least $1,000,000 per production. Grants provided to any one project shall not be in excess of $10,000,000.  The types of projects eligible for consideration for a grant from the Fund will be feature films, or episodic or limited series. Virginia Tourism in recruiting productions to the Commonwealth may use the funds provided in this paragraph in conjunction with the motion picture production tax credit and Governor's Motion Picture Opportunity Fund.  Any production with qualifying expenses of $1,000 or more with at least 50 or more small businesses shall be eligible for an additional two percent of their total grant award from the Fund, up to $20,000 per project.

3. Any production company awarded a grant from the Fund must enter into a memorandum of understanding with the Virginia Tourism Authority that at a minimum provides the requirements that the grantee must meet in order to receive an award, including but not limited to the estimated amount of money to be spent in Virginia, the timeline for completing production in Virginia, and the maximum grant that can be earned.

4. The Virginia Tourism Authority shall report to the General Assembly on or before June 30th of each fiscal year on (i) the number of projects awarded a grant for the fund, (ii) total grants obligated to projects, (iii) the number of jobs created in Virginia, and (iv) economic returns to the state in terms of state and local tax revenues.

5. For the purposes of this paragraph, "Qualifying expenses" means the sum of the following amounts spent in the Commonwealth by a production company in connection with the production of a motion picture filmed in the Commonwealth: (i) Goods and services leased or purchased. For goods with a purchase price of $25,000 or more, the amount included in qualifying expenses is the purchase price less the fair market value of the good at the time the production is completed. (ii) Compensation and wages, except in the case of each individual who directly or indirectly receives compensation in excess of $250,000 for personal services with respect to a single production. In such a case, only the first $250,000 of salary shall be considered a qualifying expense. An individual is deemed to receive compensation indirectly when a production company pays a personal service company or an employee leasing company that pays the individual.

6. For the purposes of this paragraph, "project" means a feature film, limited series, or one season of an episodic series.

7. Out of this appropriation, $10,000,000 the first year from the general fund is provided for the Boon-To-Livelihoods (BTL) Fund."



Explanation

(This amendment provides $10.0 million in fiscal year 2027 from the general fund to capitalize the Boon-To-Livelihood Fund. The amendment also creates the Fund in order to incentivize production companies to film episodic content in Virginia, which will provide more long-term sustainable work for Virginia's film industry workforce.)