Assembly Bill A5562

2011-2012 Legislative Session

Relates to the empire state film production tax credit

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A5562 (ACTIVE) - Details

See Senate Version of this Bill:
S2883
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1201-a, Tax L; amd Part P §7, Chap 60 of 2004
Versions Introduced in Other Legislative Sessions:
2009-2010: A8761, S5674
2013-2014: A5621, S2027

2011-A5562 (ACTIVE) - Summary

Relates to the allocation of the empire state film production credit against taxes for certain film production costs issued by a city having a population of one million or more.

2011-A5562 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5562

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 23, 2011
                               ___________

Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
  Committee on Ways and Means

AN ACT to amend the tax law and part P of chapter 60 of the laws of 2004
  amending the tax law relating to providing  tax  credits  for  certain
  costs  incurred in film and television productions, in relation to the
  allocation of such credit against taxes for  certain  film  production
  costs issued by a city having a population of one million or more

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision (b) of  section  1201-a  of  the  tax  law,  as
amended  by  section  5  of part Y of chapter 62 of the laws of 2006, is
amended to read as follows:
  (b) Empire state film production credit. Any city in this state having
a population of one million or more, acting through its  local  legisla-
tive body, is hereby authorized to adopt and amend local laws to allow a
credit  against the general corporation tax and the unincorporated busi-
ness tax imposed pursuant to the  authority  of  chapter  seven  hundred
seventy-two  of  the  laws  of nineteen hundred sixty-six which shall be
substantially identical to the credit allowed under section  twenty-four
of this chapter, except that:
  (A) (I) the percentage of qualified production costs used to calculate
such credit shall be [five] FOUR percent,
  (II)  FOR  A TELEVISION SERIES WITH RESPECT TO WHICH A CREDIT HAS BEEN
ALLOWED (1) IN THREE TAXABLE YEARS, THE AMOUNT OF THE  CREDIT  SHALL  BE
THREE PERCENT, (2) IN FOUR TAXABLE YEARS, THE AMOUNT OF THE CREDIT SHALL
BE TWO PERCENT, AND
  (III)  NO  CREDIT SHALL BE ALLOWED WITH RESPECT TO A TELEVISION SERIES
FOR WHICH A CREDIT HAS BEEN ALLOWED IN FIVE TAXABLE YEARS;
  (B) SUCH CREDIT SHALL NOT EXCEED TWO HUNDRED  FIFTY  THOUSAND  DOLLARS
PER  QUALIFIED  FILM  OR  EPISODE  OF A QUALIFIED TELEVISION SERIES WITH
RESPECT TO QUALIFIED PRODUCTION COSTS; PROVIDED, HOWEVER,  THAT  IF  THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07699-01-1
              

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