Amends GS 143B-437.02A (The Film and Entertainment Grant Fund) by removing the distinction between feature-length films for theatrical viewing and those for television. Reduces the funds reserved for feature-length films from $3,000,000 or $1,000,000 to $500,000. Reduces the funds reserved for a television series from $1,000,000 to $500,000 per episode. Modifies a restriction on how funds may be used as follows: (1) caps the funds at 30% (previously 25%) of the qualifying expenses for the production and (2) adds new language that the restriction of 30% is in place if the majority of the production is filmed in a development tier one or two area, as defined in GS 143B-437.08 (tier one is a county whose annual ranking according to the Secretary of Commerce based on a number of economic factors is one of the 40 highest in the state; tier two is a county whose annual ranking is one of the next 40 highest in the state), but provides an amount more than 25% of the qualifying expenses for any other production. These changes are effective upon becoming law and apply to grants made on or after that date.
Appropriates an additional $19,000,000 in recurring funds from the General Fund to the Film and Entertainment Grant Fund for the 2019-20 and 2020-21 fiscal years for purposes consistent with the Fund. Effective July 1, 2019.
Bill Summaries: S586 MODIFY FILM GRANT INCENTIVE.
Bill S 586 (2019-2020)Summary date: Apr 4 2019 - View Summary