{"id":499,"date":"2025-06-03T14:02:27","date_gmt":"2025-06-03T14:02:27","guid":{"rendered":"http:\/\/www.chuckwardrealestate.com\/?p=499"},"modified":"2025-09-22T12:09:29","modified_gmt":"2025-09-22T12:09:29","slug":"update-las-vegas-movie-studio-bill-dies-as-session-ends","status":"publish","type":"post","link":"http:\/\/www.chuckwardrealestate.com\/index.php\/2025\/06\/03\/update-las-vegas-movie-studio-bill-dies-as-session-ends\/","title":{"rendered":"UPDATE: Las Vegas Movie Studio Bill Dies as Session Ends"},"content":{"rendered":"<ul>\n<li><strong>The legislative effort to bring a movie studio to Las Vegas failed on Monday night<\/strong><\/li>\n<li><strong>Legislators couldn&#8217;t merge a bill passed in the Assembly with legislation in the Senate before this year&#8217;s legislative session came to a close<\/strong><\/li>\n<li><strong>The legislature isn&#8217;t scheduled to convene again until February 2027<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p><em><strong>UPDATE: <\/strong><\/em>Assembly Bill 238 (AB 238), which would have provided $1.8 billion in tax credits to build a movie studio owned and run by Sony and Warner Bros. in Las Vegas, died Monday night in the Nevada Senate, three days after being passed by the state&#8217;s Assembly. Last-minute efforts to merge AB 238 with a similar Senate bill failed on the last day of the state&#8217;s biennial session. <span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3 r-a8ghvy\"><span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3\">Nevada&#8217;s next regular session is scheduled to convene on Feb <\/span><\/span><span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3 r-b88u0q r-a8ghvy\"><span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3\"><span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3 r-a8ghvy\">2, 2027.<\/span><\/span><\/span><\/p>\n<hr \/>\n<p><em><strong>EARLIER:<\/strong> <\/em>Nevada\u2019s Assembly on Friday narrowly passed a bill designed to provide $1.8 billion in tax credits for Sony Pictures Entertainment and Warner Bros. Discovery to jointly <a href=\"https:\/\/www.casino.org\/news\/wb-joins-arch-rival-sony-in-las-vegas-film-studio-proposal\/\">bring a movie studio to Las Vegas.<\/a> Assembly Bill 238 passed 22 votes to 20 and now moves to the Senate for consideration.<\/p>\n<figure id=\"attachment_353638\" aria-describedby=\"caption-attachment-353638\" data-style=\"width: 1298px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\" wp-image-353638\" src=\"http:\/\/www.chuckwardrealestate.com\/wp-content\/uploads\/2025\/06\/sony-pictures-studios-howard-hughes-holdings-858x572-1.jpg\" alt=\"\" width=\"1298\" height=\"865\" \/><figcaption>Summerlin Production Studios is planned for 31 acres of land, near Flamingo Road and South Town Center Drive, owned by Howard Hughes Holdings. (Image: Howard Hughes Holdings)<\/figcaption><\/figure>\n<p>To incentivize the studios to build the $1.8 billion Summerlin Production Studios &#8212; named for the Las Vegas neighborhood in which the 31-acre complex would be located &#8212; Nevada offered the largest public subsidy in its history (edging out the $1.25 billion it approved over 20 years in 2014 for Tesla Motors to build a lithium battery factory).<\/p>\n<p>Under AB 238, the current cap for film tax breaks of $10 million per year would balloon to $120 million per year, for 15 years, beginning in 2028.<\/p>\n<div class=\"callout\">\n<p>Two recent studies commissioned by the Nevada Governor\u2019s Office of Economic Development determined that the bill is unlikely to generate sufficient tax revenue to offset its costs. (One projected that the state would receive only 52 cents in tax revenue for every dollar spent on the tax breaks.)<\/p>\n<\/div>\n<p>Supporters of the bill believe that the long-term economic benefits would include indirect and induced impacts generated by the studio.<\/p>\n<figure id=\"attachment_353639\" aria-describedby=\"caption-attachment-353639\" data-style=\"width: 430px\" class=\"wp-caption alignright\"><img loading=\"lazy\" class=\"size-post-thumbnail-430xAUTO wp-image-353639 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"\" width=\"430\" height=\"293\" data-src=\"http:\/\/www.chuckwardrealestate.com\/wp-content\/uploads\/2025\/06\/las-vegas-hollywood-sign-chatgpt-430x293-1.jpg\"><figcaption>A.I. reimagines the Hollywood sign in Las Vegas. (Image: ChatGPT)<\/figcaption><\/figure>\n<h2>Hollywoodn\u2019t<\/h2>\n<p>Boding significantly against the bill&#8217;s chances of becoming law during this legislative session is the only three days the Senate has left to consider it before the session ends. (Nevada&#8217;s Legistature convenes every two years.)<\/p>\n<p><strong>The Senate has its own bill, SB 220, which proposes building a separate film studio &#8212; one with no major movie studio backing &#8212; at UNLV\u2019s Harry Reid Technology and Research Park.<\/strong><\/p>\n<p>That bill is stuck in the Senate Finance Committee.<\/p>\n<p>A similar bill considered at the end of the 2023 session never made it to a floor vote.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/nevada-assembly-passes-tax-credits-to-bring-movie-studio-to-las-vegas\/\">UPDATE: Las Vegas Movie Studio Bill Dies as Session Ends<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The legislative effort to bring a movie studio to Las Vegas failed on Monday night Legislators couldn&#8217;t merge a bill passed in the Assembly with legislation in the Senate before this year&#8217;s legislative session came to a close The legislature isn&#8217;t scheduled to convene again until February 2027 UPDATE: Assembly Bill 238 (AB 238), which would have provided $1.8 billion [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[],"_links":{"self":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/499"}],"collection":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/comments?post=499"}],"version-history":[{"count":3,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/499\/revisions"}],"predecessor-version":[{"id":504,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/posts\/499\/revisions\/504"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media\/501"}],"wp:attachment":[{"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/media?parent=499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/categories?post=499"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.chuckwardrealestate.com\/index.php\/wp-json\/wp\/v2\/tags?post=499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}