NC S193

Reduces minimum qualifying expenses for feature-length films from $5 million to $1 million and increases minimum for television/video series from $250,000 to $1 million per episode.

Increases maximum grant amounts to $10 million for theatrical feature films, $2 million for television features/pilots/episodes, and $250,000 for commercials (from previous $5 million caps).

Removes the definition of "Employee" from statute and adds new provisions allowing Secretary to enter into binding agreements up to 5 years without requiring General Assembly appropriation.

Appropriates $66 million in recurring funds to the Film and Entertainment Grant Fund for fiscal year 2015-2016.

Takes effect July 1, 2015, and applies to all grants made on or after that date.