NC S586

Reduces minimum qualifying expenses for feature-length films from $3,000,000 (theatrical) or $1,000,000 (television movies) to $500,000 across all feature films.

Reduces minimum qualifying expenses for television series from $1,000,000 to $500,000 per episode.

Increases grant award percentage from 25% to 30% of qualifying expenses for productions filmed in development tier one or two areas, while maintaining 25% for all other productions.

Appropriates $19,000,000 in recurring funds to the Film and Entertainment Grant Fund for fiscal years 2019-2020 and 2020-2021.

Changes effective date for grant modifications to apply only to grants made on or after the bill becomes law, with funding appropriations effective July 1, 2019.