Bill > H3832

This bill modifies South Carolina's film and theater production incentive programs by increasing the annual rebate limit for motion picture productions from $10 million to $30 million, allowing the state to rebate up to 30% of in-state expenditures for motion picture productions that spend at least $1 million in the state. Additionally, the bill introduces a new tax credit program for accredited theater productions, offering a 30% tax credit for production and transportation expenditures, with a total annual credit cap of $2 million. The theater production tax credit applies to pre-Broadway and post-Broadway live stage productions in qualified facilities, requires a minimum production budget of $100,000, and can be carried forward for three tax years. The bill also allows tax credits to be transferred once between taxpayers. For motion picture productions, the state can now use a portion of the rebate allocation to fund the South Carolina Film Commission's operations and promote collaborative efforts between higher education institutions and film-related entities. The bill aims to enhance South Carolina's attractiveness for film and theater production by providing more substantial financial incentives and support for the entertainment industry.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=3832&session=126&summary=B