We present resonant terahertz transmission in a composite plasmonic film comprised of an array of subwavelength metallic patches and semiconductor holes. A large dynamic transition between a dipolar localized surface plasmon mode and a surface plasmon resonance near 0.8 THz is observed under near infrared optical excitation. The reversal in transmission amplitude from a stop-band to a pass-band and up to pi/2 phase shift achieved in the composite plasmonic film make it promising in large dynamic phase modulation, optical changeover switching, and active terahertz plasmonics.