Attempt to Cut Film Tax Credit From Tax-Reform Bill Fails | Beaufort County Now

The House passed a franchise tax cut and expanded film grants despite an attempt to shoot down the expansion of film grants. carolina journal, film tax, tax credit, tax reform bill, november 1, 2019
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Attempt to Cut Film Tax Credit From Tax-Reform Bill Fails

Publisher's note: This post appears here courtesy of the Carolina Journal, and written by Julie Havlak.

The N.C. Legislative Building in Raleigh. | Photo: Don Carrington

    The House passed a franchise tax cut and expanded film grants despite an attempt to shoot down the expansion of film grants.

    Rep. Larry Pittman, R-Cabarrus, tried to strip the film tax credits from Senate Bill 578. In the spirit of Halloween, he likened them to vampires, saying that he wanted to get rid of the bloodsuckers.

    House Majority Leader John Bell, R-Wayne, immediately made a motion to cut off debate, and Pittman's amendment failed 4-106. The bill then passed the House 61-49, and was sent to the Senate.

    The Senate is hoping to pass a resolution today, adjourning the session for several weeks.

    The bill would also lighten the amount of investment required to receive a film grant, attempting to lure film production to N.C. It would also slash the franchise tax a third by 2021, cutting it by more than $1 billion dollars in the first five years.

    Rep. Darren Jackson, D-Wake, argued on Thursday that the bill was a waste of time, saying the bill would not be able to sustain a veto.

    "We're sitting here spinning our wheels on something we know will get vetoed by the governor," Jackson said.

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