Film incentives stripped from bill in early morning move - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

Film incentives stripped from bill in early morning move

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The future of film incentives remains unclear as the Senate passes a budget that replaces the tax credit with a grant program industry officials say is inadequate. The future of film incentives remains unclear as the Senate passes a budget that replaces the tax credit with a grant program industry officials say is inadequate.
RALEIGH, NC (WECT) -

Hours after the N.C. House approved an amendment to extend the state's film tax credit for another year, conferees from both chambers stripped the language from the bill, Rep. Susi Hamilton said. 

The amendment to Senate Bill 763, proposed by Rep. Ted Davis (R-New Hanover), would cut the maximum credit from 25 percent to 22.5 percent and cap the maximum refunded expenses at $40 million while legislative staffers study the program.   

Hamilton said early Friday morning, shortly after midnight, conferees took parts of the bill and combined it with a measure (HB 1224) that creates a business recruitment fund for the Secretary of Commerce. 

But, they didn't include parts of SB 763 pertaining to the film tax credit, historic preservation and renewable energy.  

"It was a house and Senate leadership decision to remove those three things," Hamilton wrote in a text message.  

The House will now vote to concur with the Senate changes to HB 1224.

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