WILMINGTON, NC (WWAY) — A bill filed in the state House could make it harder for North Carolina to bring big productions to Hollywood East.
Under the current law, a film company earns a refundable tax credit for 25 percent of a production’s qualifying expenses. Any money left over as surplus credit is then cut into a check from the state to the production company.
Republicans Rick Catlin of New Hhanover County and Chris Millis of Pender County are among the sponsors of a bill that would require them use the surplus against any future tax liability for the next five years.
Catlin says people need to be aware of the fact that tax incentives are coming right from tax-payers pockets, but Rep. Susi Hamilton, a Wilmington Democrat, says this bill is bad for business.
“If this bill or anything like it passes, the film industry in North Carolina will go away, and thousands of clean jobs will go away with it,” Hamilton said.
Rep. Catlin says even though he sponsored the bill, he does not expect it to pass. The bill, though, passed first reading today and was referred to committee.
Local actors and workers in the film industry will hold a rally this weekend to voice their objections against lawmakers who support the bill. It’s at 12:30 p.m. at Riverfront Park downtown.