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New Bill Could Limit Film Tax Credit Incentives - House Bill 994

7:29 PM, Apr 25, 2013   |    comments
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Greensboro, NC -- Some are calling it a "Film Flux." A few North Carolina lawmakers are considering a bill that will eliminate the current tax credit incentives for moviemakers.

"We've got an industry here that relies on film production for their jobs--to pay their taxes and bills," said Rebecca Clark.

The proposed bill would limit the tax incentives a film company receives, which may limit movie filming in North Carolina. House Bill 994 is currently in the rural committee. The bill was sponsored by Reps. Paul Luebke (R), Rick Catlin (R), Chris Millis (R), and Edgar Starnes (R).

Under the current law, film production companies can get a 25-percent tax credit if they setup shop and produce a movie in the state.

"You cannot put a price on the amount of publicity that the film industry can bring to North Carolina," said Clark.

Here are some film stats from 2012:

Filmmakers brought $376 million into the North Carolina economy. In return, the state leaders offered $45 million in tax credits to movie production companies.

In 2013, the news is even better. So far, there are 31 movies booked to be filmed in the Tar Heel State.

But, if the new bill passes, it would eliminate any tax credits. And, the talk of possible tax incentive cuts has sparked concerns.

So, it's a very important industry here, and in order to stay competitive, we are going to have to keep those incentives.

"I feel like whoever is writing these bills are just not doing their research," said Shannon Murphy, a film production company co-owner.

"I feel like some of the politicians don't like to do their homework. They don't like to do their research and see the benefits of the incentives and stop trying to put the small business owner out of business," said Sasha Bagdasarov, co-owner of Elements Rentals.

House Bill 994 currently is sitting before the Rural Committee.

Read the entire proposal: House Bill 994

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