Bill Summary for H 301 (2023-2024) (2023-2024)

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Summary date: 

Apr 18 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
House Bill 301 (Public) Filed Tuesday, March 7, 2023
Intro. by Faircloth, Hardister, Lambeth, K. Hall.

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Bill summary

House committee substitute to the 1st edition makes the following changes. Amends GS 143B-437.02A to allow the funds in the Film and Entertainment Grant Fund to be used for a production on which the production company has qualifying expenses of at least $1 million for a feature-length film (was, $500,000). Changes the amount of the grant caps as follows: (1) prohibits using the funds to provide a grant in excess of an amount more than 35% of the qualifying expenses for the production if at least 75% of (i) the filming of the production and (ii) where crew, cast, and offices of the production are both located in tier one and tier two areas, or more than 30% of the qualifying expenses for any other production (was, more than 25%); and (2) changes the grant cap from $7 million to $20 million for a feature-length film. Amends the definition of highly compensated individual to mean an individual who directly or indirectly receives $5 million (was, $1 million) in compensation for personal services with respect to a single production and makes conforming change to qualifying expense to account for higher amount.