New bill to restore NC film incentives

NC legislator filed a bill Friday, February 13, considering bringing back a few tax incentives, including film incentives.

The Omnibus Economic Development Improvement Bill aka HB 89 was filed today and sponsored by House Reps Susi Hamilton (New Hanover, Brunswick) and Rodney Moore (Mecklenburg). This bill is to restore several tax credits such as the job catalyst fund, the Mill Property Rehabilitation Tax Credit, Historic Rehabilitation Tax Credits and the N.C. Film Incentives.

The bill reinstates the old incentive program for film projects that expired at the end of last year and has small changes. According to HB 89, minimum would revert back to $250,000 and the cap again on the 25% back would be $20 million. Slight changes such as certified CPAs to audit instead on IRS, and other minor details have been added. The program would expire January 1, 2020.