New bill would restore film, historic preservation tax incentives

RALEIGH, NC (WWAY) — A bill filed today in Raleigh calls for restoring several tax incentives, including credits for film projects and historic preservation.

HB 89, also known as the the Omnibus Economic Development Improvements Bill, is sponsored by three Democrats, including Rep. Susi Hamilton of Wilmington.

The bill restores North Carolina’s old incentive program for film projects that expired at the end of last year. The program offers a 25-percent tax rebate for qualifying projects. It was credited with bringing productions including “Iron Man 3,” “Safe Haven” and “Tammy” to Wilmington and other parts of North Carolina. If approved, the film incentives would run through 2019.

Rep. Hamilton says despite Republican control of both houses in the General Assembly and the governor’s office, it’s still a two-party system. She hopes the GOP will take the ideas in the bill seriously.

“In the past, all of these economic development programs passed with bipartisan support,” Hamilton told WWAY. “If history is any indicator, maybe we can work across the aisle to help people in all 100 counties of North Carolina.”

The bill also calls for the restoration of low-income housing tax credits, a tax credit for using state ports in Wilmington and Morehead City and the repealed Historic Rehabilitation Tax Credit, which Wilmington city leaders have urged lawmakers to resume along with the film credit because of their impact on the local economy.