100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
Introduced , by Rep. Arthur Turner
SYNOPSIS AS INTRODUCED:
Creates the Interactive Digital Media Tax Credit Act. Entitles
interactive digital media companies that meet certain requirements to an
income tax credit in the amount of 30% of certain expenses incurred by the
applicant for an accredited production in a taxable year. Authorizes
taxpayers to take the credit beginning in the taxable year in which the
company has met the investment requirement. Provides for the transfer of
credits. Amends the Illinois Income Tax Act to make conforming changes.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
This Act may be cited as the
Interactive Digital Media Tax Credit Act.
(a) As used in this Act:
"Interactive digital media project" means a production of
interactive entertainment which is produced for distribution
in commercial or educational markets, including a computer
game, video game, simulation or animation, or a production
intended for Internet or wireless distribution.
"Accredited production" means the production of an
interactive digital media project that has been certified by
the Department in which the Illinois production spending
included in the cost of the production exceeds $100,000 per
"Accredited production certificate" means a certificate
issued by the Department certifying that the interactive
digital media production is an accredited production that meets
the guidelines of this Act.
"Applicant" means a taxpayer that is an interactive digital
media company that is operating or has operated an accredited