LAS VEGAS (KSNV) — Warner Bros. Discovery (WBD) says it will lease a film studio proposed for southwest Las Vegas and commit at least $8.5 billion in production spending if lawmakers approve a tax incentive package next year.

The media company announced Tuesday that it plans to partner with UNLV and Birtcher Development for a long-term commitment to “fully occupy” Nevada Studios, a filmmaking hub planned for the university’s Harry Reid Research & Technology Park.

The partnership is contingent on a film tax credit package passing through the Nevada Legislature next year.

According to a news release, Nevada Studios will be renamed Warner Bros. Studios Nevada and will feature full-service film and television studios. WBD says it will commit at least $8.5 billion in long-term production spend if the project is greenlit.

The campus will also be home to the Nevada Media and Technology Lab, a production facility that will provide space for the UNLV film department and other academic departments.

“In addition to our best-in-class studios in Burbank, CA and Leavesden, UK, Warner Bros. Studios Nevada represents a great opportunity to further expand our facilities to accommodate these productions and more in the future,” Simon Robinson, chief operating officer for Warner Bros. Studios, said in a statement. “We are fully committed and excited about the potential of a long-term partnership and presence in Nevada and are confident it will be a win/win for the State of Nevada, the Las Vegas community and WBD as we look ahead to our next 100 years of exceptional storytelling.”

Warner Bros. Discovery’s brands include HBO, TNT, TBS, Discovery, and DC Comics.

State Sen. Roberta Lange last year introduced the film production package, which was dubbed by supporters as “Hollywood 2.0.” At the time Sony Pictures said it was ready to commit up to $1 billion in production spend if the package was signed into law.

The bill never received a vote on the floor in 2023, and Assembly Majority Leader Sandra Jauregui said this June that she would submit a bill draft request to the Legislative Counsel Bureau to bring the package back for the 2025 session.

It’s unclear how much the new bill will differ from the 2023 version, which proposed offering $190 million annually in film tax credits.