Assembly Bill 204 proposes the creation of a refundable video game production income and franchise tax credit in Wisconsin. This credit is designed to incentivize the development, production, or creation of video game products by allowing claimants to receive a credit equal to 30% of eligible wages and eligible expenditures directly related to these activities. 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 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 necessary steps for filing claims and the limitations on what can be claimed. The legislation aims to support the video game industry in Wisconsin by providing financial incentives for production activities, thereby fostering economic growth 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