Amenendment to try and save film incentives passes house
WILMINGTON, NC (WWAY) — The NC House passed an amendment attempting to save film incentives for at least 1 more year.
Rep. Ted Davis (R-New Hanover County) introduced the amendment on the NC House floor this afternoon that would keep film incentives closer to what they are currently at least for the next year.
The proposal included in the proposed state budget is a grant-based program that would cap incentives at $10 million. Davis’s amendment would raise that cap to $40 million, and instead of a grant would be instituted as a tax credit.
Davis was brought to tears on the House floor saying he’s never worked as hard on an issue as he has the one of film incentives.
His amendment would reduce the current film incentive tax credit from 25 percent to 22.5 percent. It would also require a “Made in North Carolina” logo be attached to the end of any movie or production using the credit.
Stay with WWAY for more on this developing story.
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