SB 301

Amends the use of the Film and Entertainment Grant Fund (Fund), under GS 143B-437.02A, as follows. Expands upon the allowable uses of the Fund to also include a production on which the production company has qualifying expenses of at least $200,000 for independent films (in addition to the already allowed feature-length films, TV series, and commercials for theatrical or TV viewing or on-line distribution). Changes the cap on the funding to the following: (1) no more than 35% of the qualifying expenses of the production for productions occurring primarily in development tier one or tier two areas, or an amount more than 25% of the qualifying expenses for productions occurring primarily in development tier three areas (was, an amount of no more than 25% of the qualifying expenses, no matter where); (2) no more than $12 million (was, $7 million) for a feature-length film, $20 million (was, $15 million) for a single season of a TV series, or $450,000 (was, $250,000) for a commercial for theatrical or TV viewing or on-line distribution, or $2 million for an independent film. Amends the factor that is to be considered when giving funding priority to productions related to the extent to which the production features identifiable attractions or locales in a way that would induce people to visit to add especially those emphasizing the state's diverse geographical landscapes and historical landmarks. Amends the definition of production as it is used in this statute by defining an independent film as a motion picture with a maximum budget of $2.5 million produced by a company not publicly traded and publicly traded companies do not own, directly or indirectly, more than 25% of the production company.