Assembly Bill 231 proposes the establishment of a tax credit program for film production companies in Wisconsin, aimed at incentivizing film production within the state. The bill creates a new State Film Office under the Department of Tourism, which will oversee the accreditation of 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, with a cap on the total credits based on the first $250,000 of salaries for each employee, excluding the two highest-paid employees. Additionally, companies can claim credits for production expenditures and sales taxes related to producing films, with the total allocation of credits limited to $10 million per fiscal year.

The bill also mandates that the State Film Office submit annual reports to the legislature detailing credit applications and allocations, and it requires a biennial performance evaluation audit of the accreditation program. New legal provisions are introduced to define terms related to the tax credits, including "accredited production" and "production expenditures," and to outline the application process for tax credits. The bill aims to enhance the film industry in Wisconsin by providing financial incentives while ensuring accountability and oversight through the established reporting and auditing mechanisms.

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