Monday, May 13, 2013

Film Rebate Bill signed into law

More rebates!

Posted by Erica Jackson Curran on Mon, May 13, 2013 at 11:00 AM

click to enlarge Gear stacked outside the Cistern Yard during the taping of TODAY - SAM SPENCE
  • Sam Spence
  • Gear stacked outside the Cistern Yard during the taping of TODAY

Good news for South Carolina’s growing film industry: The Film Rebate Bill (S.163), passed by the Legislature last week, was subsequently signed into law by Gov. Nikki Haley.

This means, for one thing, that when film companies buy supplies from S.C. vendors, they’ll get up to 30 percent off in rebates, as opposed to the previous 15 percent. Film companies will also receive higher rebates for wages spent — from 15 percent to 25 percent for S.C. residents and up to 20 percent for all others.

No tax increases will be required to make these adjustments, but the bill is expect to lure more productions to the Palmetto State, resulting in increased jobs and revenue.

The Carolina Film Alliance’s president expressed his support of the bill, saying, “What it says to the film industry around the world is that South Carolina values the millions of dollars that film companies will now spend here with local small business, such as hardware stores, restaurants, lumber yards, and dry cleaners — attracting millions in capital investment to grow the economy, creating jobs, and showcasing South Carolina’s geographic beauty to the world on the big screen.”

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