Subcommittee advances bill tripling film production rebate cap and creating theater tax credit

House Bill 3832, which would increase South Carolina's motion picture production rebate cap from $10,000,000 to $30,000,000 and create a new 30% income tax credit for accredited theater productions capped at $2,000,000 annually, received a favorable report from the Economic Development Legislative Subcommittee.

Rep. Mike Akaski, Chair of the Economic Development Legislative Subcommittee, presided over the hearing and called the bill up for consideration. The bill would also allow unused film rebates to be carried forward for three years and shift funding for film rebates and the film commission from admissions taxes to the general fund.

The measure is a revisitation of legislation the subcommittee previously passed out of the House but which did not become law in an earlier session, a fact members noted during discussion. Miss Stewart offered an amendment described in the hearing as a "friendly amendment" intended to comply with the spirit of the bill; the amendment was put to a voice vote and recorded as adopted.

After the amendment's adoption, the subcommittee ordered a roll-call vote on a favorable report of House Bill 3832 as amended. The roll call recorded the following votes: Representative Kaske, Aye; Representative Whitmire, Aye; Representative Lowe, Aye; Representative Weeks, Aye; Representative Dillard, Aye. The subcommittee recorded the bill as receiving a favorable report, as amended.

No members of the public had signed up to testify on the bill at the time the subcommittee took public input on HB3832.

The subcommittee's favorable report advances the bill within the legislative process; further committee referrals or floor action were not specified during the hearing.