They?re at it again. Last July, this spotlight was released
detailing why increasing film tax credits from 15% to 25% was a bad idea.

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Now, H.B. 1957, “Enhance Competitiveness of Film Credit,” has started in the legislative process. If
passed it would expand the NC film tax credit even more than the bill passed last
year. This current draft would raise the limit on the credit from $7.5 million to $20 million
dollars, include in qualifying expenses individual salaries in
excess of $1 million, and broaden qualifying expenditures much more than
previously.

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The credit increase last year was passed claiming it would create jobs and spur local economies, but it served to give big breaks to major film companies at the expense of millions of dollars to the taxpayer. This expansion will cost the state even more. A bad idea then, a bad idea now. For more reasons why these incentives are bad ideas, see this report released by the Tax Foundation.