McCrory NC film credit proposal unveiled

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by The Associated Press

WCNC.com

Posted on May 23, 2014 at 11:03 AM

RALEIGH, N.C. (AP) - Gov. Pat McCrory has proposed changes to North Carolina's film tax credit program that his administration says will cost the state much less than the current incentives program set to expire at year's end.

Details on film credit changes sought by McCrory were released late Thursday as senators officially filed his budget bill on his behalf.

The current law gives a 25 percent refund to productions that spend more than $250,000, with a payout cap of $20 million for most productions. The proposal would cap the payout at $6 million, but attempt to link the credits closer to film-related jobs. The bill also would create a new credit to encourage construction of permanent production facilities in North Carolina.

Others want film credits repealed, or the current incentives made permanent.



 

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