NC H751

Reenacts and recodifies the film production tax credit as G.S. 105-153.11, restoring the credit that was previously repealed.

Allows production companies with at least $250,000 in qualifying expenses to claim a tax credit equal to 25% of those expenses.

Defines qualifying expenses as in-state spending on goods, services, compensation, insurance, and employee benefits, excluding compensation above $1,000,000 for individual workers.

Limits feature film credits to a maximum of $20,000,000 and excludes political advertising, news programs, live sporting events, obscene material, and radio productions from eligibility.

Effective for taxable years beginning January 1, 2019, with a sunset provision repealing the credit for qualifying expenses occurring on or after January 1, 2015.