Terms Used In Montana Code > Title 15 > Chapter 31 > Part 10 - Montana Economic Development

• Affiliate: means a subsidiary of which more than 50% of the voting stock is owned directly by the parent corporation or another member of the Montana combined group. See Montana Code 15-31-1003
• Base investment: means the amount expended by a production company as production expenditures and compensation incurred in this state that are directly used in a state-certified production. See Montana Code 15-31-1003
• Compensation: means Montana wages, salaries, commissions, payments to a loan-out company subject to the provisions of subsection (3)(c), union benefits, fringe benefits, and any other form of remuneration paid to employees for personal services performed in this state. See Montana Code 15-31-1003
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Fiduciary: A trustee, executor, or administrator.
• Game platform: means the electronic delivery system used to launch or play an interactive game. See Montana Code 15-31-1003
• Game sequel: means an interactive game that builds on the theme of a previously released interactive game, is distinguished by a new title, and features objectives or characters that are recognizably different from those in the original game. See Montana Code 15-31-1003
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Loan-out company: means a personal service company contracted with and retained by a production company to provide individual personnel who are not employees of the production company, including actors, directors, producers, writers, production designers, production managers, costume designers, directors of photography, editors, casting directors, first assistant directors, second unit directors, stunt coordinators, and similar personnel, for performance of services used directly in a qualified production activity. See Montana Code 15-31-1003
• Multimarket commercial distribution: means paid commercial distribution that extends to markets outside the state. See Montana Code 15-31-1003
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Postproduction company: means a company that:

  (i)maintains a business location physically located in this state;

  (ii)is engaged in qualified postproduction activities;

  (iii)meets the requirements of 15-31-1005(4); and

  (iv)has been approved by the department of commerce to claim the credit provided for in 15-31-1009. See Montana Code 15-31-1003

• Production company: means a company primarily engaged in qualified production activities that have been approved by the department of commerce. See Montana Code 15-31-1003
• Production expenditure: means a preproduction or production expenditure incurred in Montana that is directly used for a qualified production activity including:

  (i)set construction and operation;

  (ii)wardrobes, makeup, accessories, and related services;

  (iii)costs associated with photography and sound synchronization expenditures, excluding license fees, incurred with Montana companies for sound recordings and musical compositions, lighting, or related services and materials;

  (iv)editing and related services;

  (v)rental of facilities and equipment;

  (vi)leasing of vehicles, whether to be photographed or to transport people, equipment, or materials;

  (vii)lodging costs, including hotel rooms and private housing rentals paid for by the production company;

  (viii)per diem and living allowance paid to staff, cast, and crew members;

  (ix)digital, film, or tape editing, film processing, transfers of film to tape or digital format, sound mixing, computer graphics services, special effects services, visual effects services, and animation services;

  (x)airfare, if purchased through a Montana travel agency or travel company;

  (xi)insurance costs and bonding, if purchased through a Montana insurance agency; and

  (xii)other direct costs of producing the project in accordance with generally accepted entertainment industry practices and generally accepted accounting principles. See Montana Code 15-31-1003

• Property: means real and personal property. See Montana Code 1-1-205
• Qualified production: means a new film, video, or digital project including only feature films, series for theaters, television, or streaming, pilots, movies and scripted shows made for television or streaming, televised commercial advertisements, music videos, corporate videos, industrial films, production for website creation, television specials, sports events, video games, interactive entertainment, prereleased interactive games, and sound recording projects used in a feature film, series, pilot, or movie for television. See Montana Code 15-31-1003
• Qualified production activity: means the production of a new film, video, or digital project in this state and approved by the department of commerce, including only feature films, series for theaters, television, or streaming, pilots, movies and scripted shows made for television or streaming, televised commercial advertisements, music videos, corporate videos, industrial films, production for website creation, television specials, sports events, video games, interactive entertainment, prereleased interactive games, and sound recording projects used in a feature film, series, pilot, or movie for television. See Montana Code 15-31-1003
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Resident: has the meaning provided in 15-30-2101. See Montana Code 15-31-1003
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
• State-certified production: means a production engaged in qualified production activities and certified by the department of commerce as provided in 15-31-1004. See Montana Code 15-31-1003
• Underserved area: means a county in this state in which 14% or more people of all ages are in poverty as determined by the U. See Montana Code 15-31-1003
• United States: includes the District of Columbia and the territories. See Montana Code 1-1-201