S 0859 General Bill, By McConnell, O'Dell, McGill, Ritchie, Grooms and Knotts
 A BILL TO AMEND SECTIONS 12-62-50 AND 12-62-60, BOTH AS AMENDED, CODE OF LAWS
 OF SOUTH CAROLINA, 1976, RELATING TO, AMONG OTHER THINGS, THE TAX REBATE AND
 THE EXPENDITURE REBATE TO MOTION PICTURE COMPANIES FOR PURPOSES OF THE SOUTH
 CAROLINA MOTION PICTURE INCENTIVE ACT, SO AS TO PROVIDE A TAX REBATE TO A
 MOTION PICTURE PRODUCTION COMPANY EQUAL TO TWENTY PERCENT OF THE COMPANY'S
 SOUTH CAROLINA PAYROLL, RAISE THE AGGREGATE ANNUAL LIMIT ON THIS REBATE FROM
 TEN TO FIFTEEN MILLION DOLLARS AND PROVIDE A CARRY FORWARD AND TO ADD TEN
 MILLION DOLLARS ANNUALLY TO THE PERCENTAGE OF ADMISSIONS TAX REVENUES
 APPROPRIATED TO THE DEPARTMENT OF COMMERCE FOR THE USE OF THE SOUTH CAROLINA
 FILM COMMISSION, TO AUTHORIZE A THIRTY PERCENT EXPENDITURE REBATE TO A MOTION
 PICTURE PRODUCTION COMPANY HAVING IN THE AGGREGATE AT LEAST A MILLION DOLLARS
 OF IN-STATE EXPENDITURES AND PROVIDE A CARRY FORWARD.

   12/05/07  Senate Prefiled
   12/05/07  Senate Referred to Committee on Finance
   01/08/08  Senate Introduced and read first time SJ-32
   01/08/08  Senate Referred to Committee on Finance SJ-32

TO AMEND SECTIONS 12-62-50 AND 12-62-60, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO, AMONG OTHER THINGS, THE TAX REBATE AND THE EXPENDITURE REBATE TO MOTION PICTURE COMPANIES FOR PURPOSES OF THE SOUTH CAROLINA MOTION PICTURE INCENTIVE ACT, SO AS TO PROVIDE A TAX REBATE TO A MOTION PICTURE PRODUCTION COMPANY EQUAL TO TWENTY PERCENT OF THE COMPANY'S SOUTH CAROLINA PAYROLL, RAISE THE AGGREGATE ANNUAL LIMIT ON THIS REBATE FROM TEN TO FIFTEEN MILLION DOLLARS AND PROVIDE A CARRY FORWARD AND TO ADD TEN MILLION DOLLARS ANNUALLY TO THE PERCENTAGE OF ADMISSIONS TAX REVENUES APPROPRIATED TO THE DEPARTMENT OF COMMERCE FOR THE USE OF THE SOUTH CAROLINA FILM COMMISSION, TO AUTHORIZE A THIRTY PERCENT EXPENDITURE REBATE TO A MOTION PICTURE PRODUCTION COMPANY HAVING IN THE AGGREGATE AT LEAST A MILLION DOLLARS OF IN-STATE EXPENDITURES AND PROVIDE A CARRY FORWARD.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 12-62-50(A)(1) of the 1976 Code, as last amended by Act 56 of 2005, is further amended to read:

"(1)    The South Carolina Film Commission department may rebate to a motion picture production company a portion of the South Carolina payroll of the employment of persons subject to South Carolina income tax withholdings in connection with production of a motion picture or pictures. The rebate may not exceed fifteen is twenty percent of the total aggregate South Carolina payroll for persons subject to South Carolina income tax withholdings employed in connection with the production when total production costs in South Carolina equal or exceed one million dollars during the taxable year. The rebates issued to all motion picture production companies in total may not annually exceed ten fifteen million dollars and shall come from the state's general fund. For purposes of this section, 'total aggregate payroll' does not include the portion of the salary of an employee whose salary which is equal to or greater than one million dollars for each motion picture. Unexpended funds from this source may be carried over to the next and succeeding fiscal years."

SECTION    2.    Section 12-62-60(A)(1) of the 1976 Code, as last amended by Act 56 of 2005, is further amended to read:

"(1)    An amount equal to twenty-six percent of the general fund portion of admissions tax collected by the this State of South Carolina for in the previous fiscal year plus ten million dollars must be appropriated annually to the department in the general appropriations act and these appropriations must be funded made available annually by September first to the department for the exclusive use of the South Carolina Film Commission. The department may rebate to a motion picture production company up to fifteen thirty percent of the expenditures made by the motion picture production company in the this State if the motion picture production company has a minimum in-state expenditure of in the aggregate of at least one million dollars. The distribution of rebates may not exceed the amount annually funded to the department for the South Carolina Film Commission from the admissions tax collected by the State. Unexpended funds from this appropriation may carry forward to the next and succeeding fiscal years and must be used for the same purposes."

SECTION    3.    This act takes effect upon approval by the Governor.