Assembly Bill 204 proposes the creation of a refundable video game production tax credit in Wisconsin, aimed at incentivizing the development and production of video games within the state. The credit will be equal to 30% of eligible wages and eligible expenditures directly related to the creation of video game products. The bill defines "video game product" as an electronic game developed for commercial distribution and entertainment, while explicitly excluding social media, gambling products, and those with obscene content. To qualify for the credit, applicants must file an application with the Department of Revenue (DOR) and submit an audit of their eligible expenditures.

The bill also includes several amendments to existing statutes, such as adding the new video game production credit to the list of credits under various sections, including 71.05 and 71.10. Additionally, it establishes definitions for terms like "eligible expenditures" and "eligible wages," while outlining the requirements for filing claims and the necessary audits to be conducted by certified public accountants. The legislation aims to support the growth of the video game industry in Wisconsin by providing financial incentives for companies engaged in this sector.

Statutes affected:
Bill Text: 71.05(6)(a)15, 71.05, 71.10(4)(i), 71.10, 71.21(4)(a), 71.21, 71.21(6)(d)3