summary
Introduced
01/10/2023
01/10/2023
In Committee
01/10/2023
01/10/2023
Crossed Over
Passed
Dead
05/09/2024
05/09/2024
Introduced Session
125th General Assembly
Bill Summary
A bill to amend the South Carolina Code of Laws 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; by amending 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 by amending Section 12-62-60, relating to admission 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 the South Carolina Code of Laws to provide that any funds committed to film projects must be carried forward from the previous year and used for the same purpose, and any uncommitted funds must be carried forward and used for wage and supplier rebate funds. It also increases the maximum annual amount of tax rebates to motion picture companies from $10 million to $20 million, and increases the percentage of admissions tax revenue dedicated to the South Carolina Film Commission from 26% to 50%.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to Committee on Ways and Means (on 01/10/2023)
Bill Topics
Macroeconomics
- ‐ Industrial Policy
- ‐ Taxation, Tax Policy, and Tax Reform
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=3089&session=125&summary=B | 12/08/2022 |
| BillText | https://www.scstatehouse.gov/sess125_2023-2024/prever/3089_20221209.htm | 12/10/2022 |
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