Leadership / 04.25.19
Music Venues Could See Tax Relief via Liquor Rebate
Victoria Advocate (TX) (04/23/19) Balevic, Katie
Texas House Bill 2806 would direct the Texas Music Incubator Program to provide eligible state music venues with rebates underwritten by a small percentage of the mixed beverage gross receipts tax that they collect. The legislation was recently approved by the House and now heads to the Senate. "Texas music venues are now disappearing due to the increasing operating costs and — more recently in some areas — from the difficulties of getting back up after suffering a disaster like Hurricane Harvey," noted bill sponsor Rep. Geanie Morrison (R). "Their disappearance is not only a loss for our Texas culture and heritage, but it is a great economic loss as well." Should HB 2806 pass, the Governor's Texas Music Office would be able to accept rebate applications starting in September 2020. The Texas Music Incubator Program's Rebecca Reynolds warned rural music venues are threatened due to exponential growth in state property values and erosion of audiences in rural communities as cities expand. According to the 2019 Texas Music Economic Impact Study, the state's music industry generated 209,000 permanent jobs, $6.5 billion in annual earnings, and an overall economic contribution of $23.4 billion. "These benefits fall on top of the already staggering $390 million in tax revenue to the state of Texas that receives from these venues," Morrison noted.
Read the full article on the Victoria Advocate website.
Tags: Regulations , News , Venues