summary
Introduced
02/23/2023
02/23/2023
In Committee
04/06/2023
04/06/2023
Crossed Over
04/06/2023
04/06/2023
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 AMENDING SECTION 12-62-50, RELATING TO the TAX REBATE FOR certain motion picture production companies, SO AS To increase the annual limit, and by allowing the use of rebates for certain expenditures and expenses; AND BY REPEALING SECTION 12-62-60 RELATING TO DISTRIBUTION OF ADMISSIONS TAXES for REBATES TO MOTION PICTURE PRODUCTION COMPANIES and certain departmental expenses.
AI Summary
This bill amends Section 12-62-50 of the South Carolina Code of Laws to increase the annual limit on tax rebates for motion picture production companies from $10 million to $30 million. It also allows the Department of Revenue to rebate up to 30% of expenditures made by production companies in the state, as long as they have a minimum in-state expenditure of $1 million. The bill also repeals Section 12-62-60, which previously governed the distribution of admissions taxes for rebates to motion picture production companies and certain departmental expenses.
Committee Categories
Budget and Finance
Sponsors (16)
Weston Newton (R)*,
Bruce Bannister (R),
Jeff Bradley (R),
Chandra Dillard (D),
Jason Elliott (R),
Shannon Erickson (R),
Bill Herbkersman (R),
Wendell Jones (D),
Chris Murphy (R),
Brandon Newton (R),
Mark Smith (R),
Murrell Smith (R),
Leon Stavrinakis (D),
Bill Taylor (R),
David Weeks (D),
Spencer Wetmore (D),
Last Action
Referred to Committee on Finance (on 04/06/2023)
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=4020&session=125&summary=B | 02/23/2023 |
| BillText | https://www.scstatehouse.gov/sess125_2023-2024/prever/4020_20230330.htm | 05/08/2023 |
| BillText | https://www.scstatehouse.gov/sess125_2023-2024/prever/4020_20230405.htm | 04/06/2023 |
| Fiscal Note - H4020 2023-03-30 Amended | https://www.scstatehouse.gov/sess125_2023-2024/fiscalimpactstatements/H4020%202023-03-30%20amended.pdf | 04/04/2023 |
| BillText | https://www.scstatehouse.gov/sess125_2023-2024/prever/4020_20230223.htm | 02/23/2023 |
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