DELAWARE - House Bill 364 is aimed at incentivizing media industries to produce in the state.
The bill, introduced into the General Assembly on April 9, would lower the cost of production for media companies by reducing taxes owed on certain expenses. Lawmakers say it would apply to feature film productions, TV series, advertisements, music videos, and video games.
Under the proposal, companies would be required to obtain, at their own expense, an independent audit certifying eligible expenses. The audit would be submitted to the Division of Small Business for approval and allocation of credits.
House Republicans say at least two-thirds of U.S. states already have such a mechanism to entice media production.
The bill has been assigned to the Revenue and Finance Committee for a hearing.
