2013 - 2014 LEGISLATURE
April 3, 2014 - Introduced by Representative Hulsey. Referred to Committee on
Jobs, Economy and Mining.
AB912,1,5
1An Act to repeal 71.07 (5f) (d) 3., 71.07 (5h) (d) 3., 71.28 (5f) (d) 3., 71.28 (5h) (d)
23., 71.47 (5f) (d) 3. and 71.47 (5h) (d) 3.; and
to amend 71.07 (5f) (c) 1., 71.07
3(5f) (c) 5., 71.07 (5h) (c) 4m., 71.28 (5f) (c) 1., 71.28 (5f) (c) 5., 71.28 (5h) (c) 4m.,
471.47 (5f) (c) 1., 71.47 (5f) (c) 5. and 71.47 (5h) (c) 4m. of the statutes;
relating
5to: restoring and increasing the film production credit.
Analysis by the Legislative Reference Bureau
Under current law, a person may claim against the person's income and
franchise tax liability a film production services tax credit and a film production
company investment credit for film production activities in this state. No person,
however, may claim the credits for taxable years beginning after December 31, 2013.
Under this bill, a person may continue to claim the credits for taxable years
beginning after December 31, 2013.
Under current law, a person may not claim the film production services credit
if less than 35 percent of the total budget for the production is spent in this state.
Under the bill, a person may not claim the film production services credit if less than
10 percent of the total budget for the production is spent in this state.
Under current law, the maximum amount of the film production services and
film production company investment credits that may be claimed in a fiscal year is
$500,000. The bill increases the maximum fiscal year amount from $500,000 to
$5,000,000.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB912,1
1Section
1. 71.07 (5f) (c) 1. of the statutes is amended to read:
AB912,2,42
71.07
(5f) (c) 1. A claimant may not claim a credit under this subsection if less
3than
35 10 percent of the total budget for the accredited production is spent in this
4state.
AB912,2
5Section
2. 71.07 (5f) (c) 5. of the statutes is amended to read:
AB912,2,86
71.07
(5f) (c) 5. The maximum amount of the credits that may be claimed under
7this subsection and sub. (5h) and ss. 71.28 (5f) and (5h) and 71.47 (5f) and (5h) in
8fiscal year is
$ 500,000 $5,000,000.
AB912,4
11Section
4. 71.07 (5h) (c) 4m. of the statutes is amended to read:
AB912,2,1412
71.07
(5h) (c) 4m. The maximum amount of the credits that may be claimed
13under this subsection and sub. (5f) and ss. 71.28 (5f) and (5h) and 71.47 (5f) and (5h)
14in fiscal year is
$500,000 $5,000,000.
AB912,6
17Section
6. 71.28 (5f) (c) 1. of the statutes is amended to read:
AB912,2,2018
71.28
(5f) (c) 1. A claimant may not claim a credit under this subsection if less
19than
35 10 percent of the total budget for the accredited production is spent in this
20state.
AB912,7
21Section
7. 71.28 (5f) (c) 5. of the statutes is amended to read:
AB912,3,3
171.28
(5f) (c) 5. The maximum amount of the credits that may be claimed under
2this subsection and sub. (5h) and ss. 71.07 (5f) and (5h) and 71.47 (5f) and (5h) in
3fiscal year is
$500,000 $5,000,000.
AB912,9
6Section
9. 71.28 (5h) (c) 4m. of the statutes is amended to read:
AB912,3,97
71.28
(5h) (c) 4m. The maximum amount of the credits that may be claimed
8under this subsection and sub. (5f) and ss. 71.07 (5f) and (5h) and 71.47 (5f) and (5h)
9in fiscal year is
$500,000 $5,000,000.
AB912,11
12Section
11. 71.47 (5f) (c) 1. of the statutes is amended to read:
AB912,3,1513
71.47
(5f) (c) 1. A claimant may not claim a credit under this subsection if less
14than
35 10 percent of the total budget for the accredited production is spent in this
15state.
AB912,12
16Section
12. 71.47 (5f) (c) 5. of the statutes is amended to read:
AB912,3,1917
71.47
(5f) (c) 5. The maximum amount of the credits that may be claimed under
18this subsection and sub. (5h) and ss. 71.07 (5f) and (5h) and 71.28 (5f) and (5h) in
19fiscal year is
$ 500,000 $5,000,000.
AB912,14
22Section
14. 71.47 (5h) (c) 4m. of the statutes is amended to read:
AB912,3,2523
71.47
(5h) (c) 4m. The maximum amount of the credits that may be claimed
24under this subsection and sub. (5f) and ss. 71.07 (5f) and (5h) and 71.28 (5f) and (5h)
25in fiscal year is
$ 500,000 $5,000,000.
AB912,16
3Section
16.
Initial applicability.
AB912,4,74
(1) The treatment of sections 71.07 (5f) (c) 1. and 5. and (d) 3. and (5h) (c) 4m.
5and (d) 3., 71.28 (5f) (c) 1. and 5. and (d) 3. and (5h) (c) 4m. and (d) 3., and 71.47 (5f)
6(c) 1. and 5. and (d) 3. and (5h) (c) 4m. and (d) 3. of the statutes first applies to taxable
7years beginning on January 1, 2014.