NCFILM UPDATE: $60M for film for 2015-2016 and 2016-2017

The 1st draft of the NC House budget for 2015-2016 has come out.  And of course I went straight to film (page 162). I am not sure how this makes any sense what so ever. If you look at the numbers column you will see $0 for 2015-2016, but $60M for 2016-2017. HOWEVER, the verbage says otherwise:

Provides funds to the Film and Entertainment Grant Fund established NR in G.S. 143B-437.02A, to encourage the production of motion pictures, television shows, and commercials and to develop the filmmaking industry within the State. In addition to the $60 million appropriated for FY 2016-17, another $60 million is earmarked and appropriated to the Fund from the FY 2014-15, bringing the total amount available for grants to $120 million.

housedraft

UPDATE: This is going to sound quite confusing but I’m just telling you what was told to me.  The reason why there is no $60M for the 2015-2016 fical year in this budget is because it is coming from the “Unreserved Fund Balance.” From what I’ve been told, that is part of the $400M surplus we had.

So, it looks as though $60M for two consecutive years is a decent starting point. Now, this is not a final budget; it’s just a starting point.  We shall see how it all plays out.  Honestly, it wont be shocking to see that number go down to $30-40M when the NC House is all done with it.  Remember, it still has to go through the Senate too. I will keep you posted!

 

 

 

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2 Comments

  1. Could it be that the reason why the 2015-2016 column is empty because the payouts come at the beginning of the following year and not during the same year the film is active?

  2. The verbiage says it was earmarked for 2014-2015 and then for 2016-2017.The year 2015-2016 is left out completely. Makes no sense at all because by 2016-2017, with zero available for 2015-2016, all production will have fled the state. We’ve got idiots in Raleigh.

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