NC House bill would change film industry credits

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by Associated Press

WCNC.com

Posted on April 27, 2013 at 6:25 PM

RALEIGH, N.C. (AP) -- A North Carolina House bill that would end tax refunds for film production companies is generating debate over incentives used to attract business. 

The measure would stop production companies from collecting a check when the size of their credit is greater than what they owe in state taxes. Under the new legislation, companies could use credits to reduce what they owe but not to collect additional money. 

Johnny Griffin of the Wilmington Regional Film Commission says that most film companies currently have no tax burden in the state and that with the new system they might look elsewhere. 

The bill's sponsors say current law gives an unfair government subsidy to one industry that can't prove how many jobs the tax credits are creating.
 

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