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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING CHAPTER 62 TO TITLE 12 SO AS TO ENACT THE SOUTH CAROLINA MOTION PICTURE INCENTIVE ACT, PROVIDING FOR NEW TAX INCENTIVES FOR MOTION PICTURE PRODUCTION COMPANIES SPENDING MONIES IN SOUTH CAROLINA, SPECIFICALLY, RELIEF FROM THE SALES AND USE TAX, AN EMPLOYMENT TAX REBATE, AND A SEVEN PERCENT REBATE OF THE COST OF GOODS AND SERVICES, AS WELL AS ASSISTANCE AND CONVENIENCE IN LOCATING, AND NEGOTIATING RATES FOR THE USE OF, PUBLIC PROPERTY AS FILMING LOCATIONS, AUTHORIZATION OF THE FORMATION OF A SOUTH CAROLINA FILM FOUNDATION TO SOLICIT DONATIONS FOR THE RECRUITMENT OF MOTION PICTURE PRODUCTIONS TO THIS STATE, AND FUNDING FROM A PORTION OF THE ADMISSIONS TAX COLLECTED BY THE STATE TO SUPPORT THE FUNCTIONS OF THE SOUTH CAROLINA FILM COMMISSION IN THESE EFFORTS AND TO PROVIDE FOR PROMOTION OF COLLABORATIVE EFFORTS BETWEEN STATE INSTITUTIONS OF HIGHER LEARNING AND MOTION PICTURE RELATED ENTITIES; TO AMEND ARTICLE 25, CHAPTER 6 OF TITLE 12, RELATING TO SOUTH CAROLINA INCOME TAX CREDITS, BY ADDING SECTION 12-6-3560 SO AS TO PROVIDE FOR A CREDIT AGAINST THE STATE INCOME TAX TO ENCOURAGE THE PRODUCTION OF TELEVISED COMMERCIAL ADVERTISEMENTS IN THIS STATE, AND BY ADDING SECTION 12-6-3570 SO AS TO PROVIDE FOR CREDITS AGAINST THE STATE INCOME TAX FOR A PORTION OF THE TAXPAYER'S CASH INVESTMENT IN A MOTION PICTURE PROJECT OR IN THE CONSTRUCTION, CONVERSION, AND EQUIPPING OF A MOTION PICTURE PRODUCTION OR POST-PRODUCTION FACILITY IN THIS STATE; TO AMEND SECTION 12-36-920, RELATING TO THE ACCOMMODATIONS TAX, SO AS TO PROVIDE RELIEF FROM THE PAYMENT OF THE TAX BY A MOTION PICTURE PRODUCTION COMPANY PRODUCING A MOTION PICTURE IN SOUTH CAROLINA; TO AMEND SECTION 12-36-110, RELATING TO "SALE AT RETAIL" FOR PURPOSES OF THE STATE'S SALES AND USE TAX, SO AS TO PROVIDE THAT THE TERM DOES NOT APPLY TO A PURCHASE MADE IN CONNECTION WITH THE CERTIFIED PRODUCTION OF A MOTION PICTURE; AND TO AMEND SECTION 1-30-25, AS AMENDED, RELATING TO THE DEPARTMENT OF COMMERCE, SO AS TO SUBSTITUTE "SOUTH CAROLINA FILM COMMISSION" FOR "SOUTH CAROLINA FILM OFFICE".
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Title 12 of the 1976 Code is amended by adding:
SECTION 2. This act takes effect upon approval by the Governor.
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