summary
Introduced
03/31/2022
03/31/2022
In Committee
03/31/2022
03/31/2022
Crossed Over
Passed
Dead
05/12/2022
05/12/2022
Introduced Session
124th General Assembly
Bill Summary
Amend The Code Of Laws Of South Carolina, 1976, By Adding Section 12-62-110 So As To Provide That Any Funds Committed To Film Projects Must Be Carried Forward From The Previous Year And Used For The Same Purpose, And That Any Uncommitted Funds Must Be Carried Forward And Used For Wage And Supplier Rebate Funds; To Amend Section 12-62-50, Relating To Tax Rebates To A Motion Picture Company, So As To Increase The Maximum Annual Amount Of Rebates To Twenty Million Dollars; And To Amend Section 12-62-60, Relating To Admissions Tax Collections Funding The South Carolina Film Commission, So As To Increase The Percentage Dedicated To The Commission To Fifty Percent Of The General Fund Portion Of The Admissions Tax.
AI Summary
This bill amends South Carolina's law on motion picture incentives in three key ways: 1) It requires any committed funds for film projects to be carried over from the previous year and used for the same purpose, with any uncommitted funds also carried over for wage and supplier rebates, 2) It increases the maximum annual amount of rebates to motion picture production companies from $10 million to $20 million, and 3) It increases the percentage of the general fund portion of admissions tax that is dedicated to the South Carolina Film Commission from 26% to 50%. The bill aims to provide more stable and increased funding for the state's film industry incentives.
Committee Categories
Budget and Finance
Sponsors (6)
Weston Newton (R)*,
Bruce Bannister (R),
Jeff Bradley (R),
William Cogswell (R),
Shannon Erickson (R),
Bill Herbkersman (R),
Last Action
Referred to Committee on Ways and Means (on 03/31/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=5193&session=124&summary=B | 03/31/2022 |
| BillText | https://www.scstatehouse.gov/sess124_2021-2022/prever/5193_20220331.htm | 03/31/2022 |
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