A BILL TO BE ENTITLED
AN ACT to require the Joint LEGISLATIVE economic development and global engagement OVERSIGHT COMMITTEE to study the efficacy of a tax credit in comparison to a discretionary grant fund for purposes of stimulating film productions in the state and the relative return on investment associated with film productions.
The General Assembly of North Carolina enacts:
SECTION 1.  The Joint Legislative Economic Development and Global Engagement Oversight Committee is directed to study the means utilized by the State for stimulating film, television, and other media production in the State for the purpose of determining the means by which the State most efficiently generates a return on investment on State expenditures for such productions. Specifically, the Committee will look at the cost of the repealed film production tax credits and the existing Film and Entertainment Grant Fund for purposes of evaluating the costs and benefits associated with each.  The study shall include both positive and negative effects, if any, to the State and to the local economies. The Committee shall report its findings, together with any recommended legislation, to the 2018 Regular Session of the 2017 General Assembly upon its convening.
SECTION 2.  This act is effective when it becomes law.