We have posted the current draft of our Universal Federal Film Tax Credit Bill as an article on X and post it here for easier reading for those not on the X Platform. It’s time to help the country revitalize the US Entertainment Industry with Babs Do Studios and Hollywood 2.0 for all!

Intro

With discussions from Senator @SenAdamSchiff, Film and Media Industry Professionals, and the public now looking more into a Federal Film Tax Credit Bill solution to aid the US Entertainment Industry, we have decided to expedite this process by posting our Universal Federal Film Tax Credit Bill that we have been developing since Summer 2025. This is the same bill we have submitted to politicians and Hollywood Ambassadors @jonvoight @TheSlyStallone and we have been referencing for consideration to President @realDonaldTrump @POTUS as well as @CommerceGov @USTreasury @USDOL.

UPDATE – June 2026

This latest draft, Version 4, has made a major change by completely removing our Babs Do Studios Infrastructure Plan to allow for a more simplified approach to bring a greater variety of innovation and new business development for the program. We made this decision after feedback, discussions for alternative business development opportunities that could work better for everyone, and with considerations for the current state of film and media business across the country that still have some groundwork to cover, especially with many states in need of updated State-level film tax credit programs.

In addition, we have also revamped the National Film Fund aspect after consideration for easier management for the fund and put in provisions that line up with currently used government methods to manage similar kinds of fund programs.

We have also added protections to the bill to preserve its function to solely benefit the growth of existing U.S. businesses and to start up new U.S. businesses for the sake of new nationwide jobs and industry. These protections ensure that the program does not directly or indirectly benefit companies invested in the very international developments and business practices that are siphoning away U.S. production work opportunities and domestic business and infrastructure growth.

The budget levels for the program have also been adjusted to help expand opportunities for larger infrastructure development as well as increased production.

As before, our Universal Federal Film Tax Credit Bill will create a system that will follow our “Hollywood 2.0” vision to bring new levels of professional resources, workforce training, industry, jobs, and economic generation to every state possible in order to swiftly establish a new competitive stance against International studio developments and incentives that are luring away U.S. production and talent on a massive scale. Hollywood Studios will not be left out of the equation as this plan provides creative expansion universally to allow for unheard of opportunities to film in genuine US locations with production support on a massive nationwide scale. Local independent studios, rental companies, and freelancers will also be supported with further provisions in our bill that will help them to grow their businesses exponentially all while preserving their independence.

Unlike other proposed bills and parties requesting a Federal Film Tax Credit Bill to be created, our Universal Federal Bill is ready and written. While headlines continue to show Hollywood Studios leaving the US almost entirely even after State Programs have been geared solely towards securing Hollywood Production, our Universal Federal Bill provides innovative solutions to grow local development on a nationwide scale. Going beyond pointlessly adding a new layer of production credits that do not inherently help to create new businesses or talent, our Universal Federal Bill provides new options for all levels of production as well as startup support for new independent studios, theaters, media businesses, and various other infrastructure projects to meet the needs of U.S. Artists across the country. Most importantly, our Universal Federal Bill adds the missing support systems to simplify and expedite independent Film and Media financing to secure economic generation and GDP growth acceleration on a large scale with regular production and business growth both within and across every state.

When combined with our State-Level Universal Film Tax Credit Bill or with our innovations adapted into current programs as we have submitted proposals to a number of states currently in Legislative Session, U.S. States will have the ability to establish their own local Hollywood 2.0 industries to produce Film and Media Productions without depending on large scale production from a limited number of visiting studio entities.

New competition and innovation within the Hollywood 2.0 system will enable existing Hollywood Studios and markets to benefit with new business innovations and solutions, new sources of independent production and IP creation for possible acquisition or distribution, a rebalancing of industry concentration, and relieved pressure from depending on chasing Film Tax Credit incentives abroad. Foreign investment in International Studios and utilizing International Incentives for certain productions will have its place but will no longer be a case of business division or outright relocation.

To clarify,

• If a Federal Film Tax Credit Bill is adopted that only grants another layer of production credits, International programs can simply raise their rates and budgets to one up U.S. programs time and again.
• If we don’t build and establish a multi-state or nationwide Hollywood 2.0 infrastructure system, many states, like Nevada, will remain ill-equipped to participate in this Multibillion-Dollar industry for potentially decades due to high costs of startup infrastructure which will continue its generational talent and economic drain to more developed states.
• If we don’t create new independent financing systems for U.S. Entertainment through various means, production will be tied strictly to purposely vague legacy financing structures and both the financial and creative influence of Wall Street, Venture Capital, random and potentially predatory investor groups, and even Foreign Investment which are all mostly far outside the reach of all but Hollywood Studios in any case. Local independent investors, citizens (ie. Family & Friends), banks, and even local governments will still be stuck with having very limited solutions for investing in artists and independent Film and Media businesses, including resorting to long drawn out crowdfunding solutions which are notoriously a gamble “hit-or-miss” option for creators.
• If we don’t work together to establish a new nationwide “Hollywood 2.0” system to foster local workforce and develop new production business, even in Hollywood, California, all US States will remain dependent on the policies and industry of the State of California for all major US Entertainment business. With such singular monopoly of the Film and Media Industry, if the State of California continues its downward trend with its current troubled business models and practices, Hollywood and the entire country goes down with it and failing to compete with International offerings will place the U.S. at an even worse critical economic disadvantage in Film and Media than it already is.

As with our Universal Film Tax Credit Bill for Nevada, we openly ask for any feedback or suggestions regarding our Universal Federal Film Tax Credit Bill. If you see any mistakes, issues, or have ideas for making our Universal Federal Bill better, please let us know as the goal is to benefit U.S. Artists, Workers, and Citizens across the United States.

If you like our Universal Federal Film Tax Credit Bill and want to see it passed into law, the best thing is to contact your state representatives and key members of government to let them know that our Universal Federal Film Tax Credit Bill is what you want the United States to have. News outlets and fellow artists can help spread the word as well! Our Universal Federal Film Tax Credit Bill is listed below:!

UPDATE – Blog post “Updates June 1, 2026” has the most recent draft of our Universal Federal Film Tax Credit Bill!