Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to investigations and government operations |
Jan 09, 2013 |
referred to investigations and government operations |
Senate Bill S498
2013-2014 Legislative Session
Sponsored By
(R, C) 60th Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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
Actions
2013-S498 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง24, Tax L
2013-S498 (ACTIVE) - Sponsor Memo
BILL NUMBER:S498 TITLE OF BILL: An act to amend the tax law, in relation to amending the empire state film production credit PURPOSE: This bill will more effectively encourage film production in New York State by increasing the tax credit percentage for films produced farther from New York City. SUMMARY OF PROVISIONS: Section 1. Amends paragraph (2) of subdivision (a) of section 24 of the tax law, as amended by section 4 of part Q of chapter 57 of the laws of 2010 by increasing the tax credit in five percent increments, as production takes place away from New York City, over three steps, until the tax credit maxes out at forty-five percent Section 2. Effective date. EXISTING LAW: Paragraph (2) of subdivision (a) of section 24 of the tax law provides a tax credit of thirty percent of qualified costs for films produced in New York State, regardless of where the film is produced in the
2013-S498 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 498 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to amending the empire state film production credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 2 of subdivision (a) of section 24 of the tax law, as amended by section 4 of part Q of chapter 57 of the laws of 2010, is amended to read as follows: (2) The amount of the credit shall be the [product] SUM OF THE PRODUCTS (or pro rata share of the product, in the case of a member of a partnership) of: (I) thirty percent [and] FOR the qualified production costs paid or incurred in THE COUNTIES OF BRONX, KINGS, NEW YORK, QUEENS OR RICHMOND DURING the production of a qualified film[,]; (II) THIRTY-FIVE PERCENT FOR THE QUALIFIED PRODUCTION COSTS PAID OR INCURRED IN THE COUNTIES OF DUTCHESS, NASSAU, ORANGE, PUTNAM, ROCKLAND, SUFFOLK, SULLIVAN, ULSTER OR WESTCHESTER, DURING THE PRODUCTION OF A QUALIFIED FILM; (III) FORTY PERCENT FOR THE QUALIFIED PRODUCTION COSTS PAID OR INCURRED IN THE COUNTIES OF ALBANY, COLOMBIA, GREENE, RENSSELAER, SARA- TOGA, SCHENECTADY, WARREN OR WASHINGTON DURING THE PRODUCTION OF A QUAL- IFIED FILM; AND (IV) FORTY-FIVE PERCENT FOR THE QUALIFIED PRODUCTION COSTS PAID OR INCURRED IN ALL COUNTIES NOT REFERENCED IN SUBPARAGRAPH (I), (II) OR (III) OF THIS PARAGRAPH DURING THE PRODUCTION OF A QUALI- FIED FILM; provided that: [(i)] (1) the qualified production costs (excluding post production costs) paid or incurred which are attribut- able to the use of tangible property or the performance of services at a qualified film production facility in the production of such qualified film equal or exceed seventy-five percent of the production costs (excluding post production costs) paid or incurred which are attribut- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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