Bill Summaries: H850 (2017-2018 Session)

Tracking:
  • Summary date: Apr 13 2017 - View summary

    Amends GS 143B-437.02A, which sets out requirements for the Film and Entertainment Grant Fund, by creating the Small Production Account (Account) within the Film and Entertainment Grant Fund. Specifies that the existing provisions of the statute apply to the grants from the Account, with the following changes. Makes grants from the Small Production Account available only to individuals who are permanent state residents. Requires that provisions of the statute directed toward production companies be, for purposes of application in the Account, interpreted as being directed toward individuals. Reserves funds for feature‑length films on which the individual has qualifying expenses of at least $100,000 but not more than $500,000.

    Creates the Film Festival Account in the Film and Entertainment Grant Fund. Specifies that of the unencumbered, unexpended funds in the Film and Entertainment Grant Fund, $500,000 is transferred to the Film Festival Account, with funds in the account to be used for grants for advertising and marketing film festivals held in the state. Provides that grants from the Film Festival Account must not exceed the lesser of $100,000 or 25% of the advertising and marketing costs incurred for the film festival (defined as an organized, extended presentation of films in one or more cinemas or screening venues in a single city or region held over a period of not more than three days).

    Requires, of the unencumbered, unexpended funds in the Film and Entertainment Grant Fund, $5 million to be transferred to the Small Production Account. 

    Requires that of the unencumbered, unexpended funds in the Film and Entertainment Grant Fund, $500,000 be transferred to the Film Festival Account.