Bill > HB237

This bill establishes the Delaware Entertainment Investment Tax Credit to encourage artistic endeavors and investment in the film, television, esports, and videogame industries within the state. The bill creates a comprehensive tax credit program that offers qualified companies a 30% tax credit on qualified expenditures over $500,000 per tax year, with credits that can be transferred, sold, or carried forward for up to 10 years. Qualified activities include creating media projects like films, TV series, commercials, music videos, and digital interactive entertainment such as video games, with specific exclusions for political advertising, instructional videos, and other non-entertainment content. To be eligible, companies must be incorporated or registered in Delaware, provide internship opportunities for Delaware residents, and have their projects approved by the Delaware Motion Picture and Television Development Commission. The bill sets an annual maximum credit amount of $25 million and requires the Department to issue a biennial report detailing the program's economic and community impact, including the number of projects, credits approved, and people employed. The legislation also establishes specific withholding requirements for loan-out companies and provides a detailed framework for applying for, transferring, and claiming the tax credits, with provisions for appeals and audits to ensure proper implementation.

Budget and Finance

https://legis.delaware.gov/BillDetail?LegislationId=142661