Number
231846
Version
SUBSTITUTE 1
Reference
Sponsors
ALD.COGGS
Title
Substitute resolution relating to the City of Milwaukee’s support for the reinstatement of State of Wisconsin tax credits for movie and television production.
Analysis
This resolution directs the Department of Administration-Intergovernmental Relations Division to support passage of 2023 Wisconsin Senate Bill 1026 and Assembly Bill 1125, which establish income and franchise tax credits for film production companies. The bills also create a State Film Office in the Department of Tourism to implement the tax credit accreditations and allocations.
Body
Whereas, Wisconsin began a film tax incentive program in 2008 which was discontinued in 2013; and
Whereas, Wisconsin is one of only 11 states to offer no film tax incentives and is losing business to states that do; and
Whereas, According to the Illinois Department of Commerce and Economic Opportunity, Illinois brought in $691 million in film production revenue in 2022; and
Whereas, According to the IMDb (Internet Movie Database) 2,500 short films and TV show episodes have been shot in Wisconsin, compared to over 26,000 in Illinois; and
Whereas, Wisconsin offers a great diversity of filming locations, including natural landscapes and historic architecture; and
Whereas, 2023 Wisconsin Senate Bill 1026 (SB 1026) and Assembly Bill 1125 (AB1125) create income and franchise tax credits for film production companies; and
Whereas, SB 1026 and AB 1125 create a 25% tax credit for salaries and wages for employees for film production services and a 25% tax credit for production costs; and
Whereas, A State Film Office in the Department of Tourism will be created by SB 1026 and AB 1125; and
Whereas, Action! Wisconsin, a statewide coalition of filmmakers and producers support the SB 1026 bill; and
Whereas, Developing a robust film industry has the potential to create jobs and have a significant economic impact on Milwaukee and the State; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the City’s Legislative Package is amended to direct support for the passage of 2023 Wisconsin Senate Bill 1026 and Assembly Bill 1125, which relate to income and franchise tax credits for film production companies; and, be it
Further Resolved, That Common Council Resolution File Number 220724 is amended by inserting the following item in the document attached to the file and identified as “Amended State Legislative Package”:
|
Fiscal Efficiency / Stability |
Common Council |
Support passage of 2023 Wisconsin Senate Bill 1026 and Assembly Bill 1125, which relate to income and franchise tax credits for film production companies |
; and, be it
Further Resolved, That the City Clerk shall forward copies of this resolution to members of the City of Milwaukee’s delegation to the Wisconsin Legislature.
Requestor
Drafter
Kathleen Brengosz
3/20/2024
LRB 179762