Thanks to the commitment and efforts of a coalition of exhibitors including AMC, Cinemark, Regal, and NATO of Texas, House Bill 500 cleared both the House & the Senate and was signed into law by the Governor on June 15. Passage of the bill now allows movie theaters to reduce their taxable margin by subtracting film rental paid for the rights to show movies as well as any expenses related to exhibition, including projection equipment. Its passage is an example of how all levels of the exhibition community can work together to overcome unfair legislation and initiate beneficial changes through new legislation. As many have said before “no one of us is as strong as all of us.”
We would like to take this opportunity to express a special “Thank You” to all of our members who contacted their legislator’s in support of HB 500.