Senate Bill 231 proposes the establishment of a tax credit program for film production companies in Wisconsin, aimed at promoting the film industry within the state. The bill introduces a new State Film Office under the Department of Tourism, which will oversee the accreditation of film productions and the allocation of tax credits. Film production companies can claim a credit equal to 30% of salaries paid to employees for services rendered in Wisconsin, as well as 30% of production expenditures incurred in the state. The total credits claimed cannot exceed $10 million per fiscal year, with a cap of $1 million for any single applicant. Additionally, the bill mandates that the State Film Office submit annual reports to the legislature detailing credit applications and allocations.

The bill also includes provisions for the creation of new sections in the statutes, specifically addressing the film production services credit and the operational framework for the State Film Office. It outlines the definitions of accredited productions, claimants, and production expenditures, while establishing guidelines for filing claims and limitations on the credits. Notably, the bill specifies that partnerships and limited liability companies cannot claim the credits directly, but their members can benefit based on their ownership interests. The legislation aims to enhance the efficiency of the program through biennial performance evaluations conducted by the Legislative Audit Bureau.

Statutes affected:
Bill Text: 71.05(6)(a)15, 71.05