House approves alternative to film incentive in budget bill - WNCN: News, Weather

House approves alternative to current film incentive in 2014-15 spending plan

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Lawmakers in the state House approved an alternative to the current film incentive tax credit in North Carolina Lawmakers in the state House approved an alternative to the current film incentive tax credit in North Carolina
RALEIGH, NC (WECT) -

The state House passed an amendment proposed by Rep. Ted Davis (R-New Hanover) that changes North Carolina's film incentive tax credit to a Grant Fund, similar to a proposal that has already passed the state Senate.

Unlike the proposal introduced by Sen. Bill Rabon (R-Brunswick) that allocated $20 million for the Film and Entertainment Grant Fund, Davis' proposal allocates only $5. Davis said during the debate on the floor that the simple allocation is enough to "keep the issue on the table" when members of the House and Senate go into conference to negotiate the differences between each chamber's spending plans.

Rep. Frank Iler (R-Brunswick), who says he would rather lawmakers extend the current film incentive tax credit, raised concerns with Davis' proposal, but also seemed resigned to the GOP majority not favoring that approach.

"I don't like this (grant fund) approach," Iler said during the debate on the House floor. "But, I will take what we can get. A half a loaf is better than none at all."

"I am a realist," Davis added during the debate. "I realize there are not enough votes in the House right now to extend the current incentives." The current film incentives program expires at the end of 2014.

To read the text of Davis' amendment on the Film and Entertainment Grant Fund, click here: http://bit.ly/1oUzQeN

Debate on the state House budget bill continued after the debate and vote on Davis' amendment. Members are expected to give final approval to the $21 billion spending plan Friday.

Copyright 2014 WECT. All rights reserved

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