A BILL TO BE ENTITLED
AN ACT to modify the film industry development account and to appropriate five million dollars to that account.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 143B‑434.4(b) reads as rewritten:
"(b)	Creation of Account. – There is created in the Department of Commerce, Division of Tourism, Film, and Sports Development, the Film Industry Development Account to provide annual grants as incentives to production companies that engage in production activities in this State. The Division of Tourism, Film, and Sports Development shall administer this program in accordance with the following provisions:
(1)	To be eligible for a grant, a production company must engage in production activities in this State with expenditures in this State of at least one million dollars ($1,000,000). A grant may not be used for political or issue advertising.
(2)	A grant may not exceed fifteen percent (15%) of the amount the production company has spent for goods and services in this State during the calendar year.
(3)	A grant may not exceed two hundred thousand dollars ($200,000) per production.
(4)	Grants shall be awarded to productions that substantially utilize North Carolina's film industry infrastructure and workforce, that stimulate economic activity within the State, and that create employment opportunities within the State.
(5)	A grant may not be made unless there is a local government match of the funds allocated by the State. A local match may include cash, fee waivers, in‑kind services, the donation of assets, the provision of infrastructure, or a combination of these."
SECTION 2.  There is appropriated from the General Fund to the Department of Commerce for the Film Industry Development Account the sum of five million dollars ($5,000,000) for the 2004‑2005 fiscal year.
SECTION 3.  This act becomes effective July 1, 2004.