5 Comments for this article

Tags: , , , , , , , , ,

RALEIGH, NC (WWAY) — It wasn’t exactly what State Rep. Ted Davis (R-19th District) wanted. But, film supporters said it’s better than nothing.

Thursday night, the North Carolina House of Representatives passed, 90 to 26, Davis’ amendment that would trade film tax credits for a grant program.

On Wednesday, Davis proposed to reduce the tax credit from 25 to 22.5 percent of a film’s qualifying expenses. But that, and his two other ideas, failed in committee.

So, Thursday, he came up with another amendment for a grant program much like the one passed in the Senate.

The proposal in the amendment said the Department of Commerce would create an account known as the Film and Entertainment Grant fund. It would provide money to encourage productions in North Carolina.

The money would be reserved for films, TV shows and commercials that had qualifying expenses of at least $10 million, $1 million and $500,000, respectively. But, the grant would not cover an amount more than $5 million for a feature-length film or one television episode, or more than $250,000 for a commercial.

The film incentives are now in the House budget with a $5 million appropriation. That means lawmakers will debate the details in a House-Senate conference committee.

The current film incentives package that runs out at the end of the year lets productions that spend at least $250,000 in North Carolina to claim 25 percent of their qualifying expenses up to $20 million.


Comment on this Story

Related News