NC S301

Increases maximum grant caps for feature-length films from $7 million to $12 million, television series seasons from $15 million to $20 million, and commercials from $250,000 to $450,000

Creates a new independent film category defined as motion pictures with budgets up to $2.5 million produced by non-publicly traded companies, with a minimum qualifying expense of $200,000 and maximum grant of $2 million

Establishes tiered grant percentages based on location: up to 35% of qualifying expenses for productions in development tier one or tier two areas, and up to 25% for tier three areas

Adds priority consideration for productions featuring North Carolina's diverse geographical landscapes and historical landmarks that could attract tourism

Applies to grants awarded on or after the effective date when the act becomes law