NY State Senate Bill 2009-S4943

Archive: Last Bill Status - In Senate Committee Cultural Affairs, Tourism, Parks And Recreation 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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2010	referred to cultural affairs, tourism, parks and recreation
Apr 27, 2009	referred to cultural affairs, tourism, parks and recreation

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2009-S4943 (ACTIVE) - Details

See Assembly Version of this Bill:: A5784
Current Committee:: Senate Cultural Affairs, Tourism, Parks And Recreation
Law Section:: Tax Law
Laws Affected:: Add §30, amd §§210 & 606, Tax L; add §91-h, St Fin L
Versions Introduced in 2011-2012 Legislative Session:: A5559

2009-S4943 (ACTIVE) - Summary

Establishes an Empire state film post production tax credit against personal and corporate franchise taxes for a portion of qualified post production costs attributable to the use of tangible property or services within the state; directs the commissioner of taxation and finance to withhold 7% of such credit and to deposit the revenue therefrom into the New York state post production internship education and development program fund; monies from such fund shall be disbursed for the payment of tuition for post production interns.

2009-S4943 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S4943

 TITLE OF BILL :  An act to amend the tax law, in relation to an
empire state film post production tax credit and to amend the state
finance law, in relation to establishing the New York state post
production internship education and development program fund; and
providing for the repeal of such provisions upon expiration thereof


 PURPOSE OR GENERAL IDEA OF THE BILL :
To establish the empire state film post production tax credit.

 SUMMARY OF PROVISIONS :
Section 1 amends the tax law by adding a new §29, establishing the
post production tax credit. The credit shall be 10% of qualified post
production costs. The section also defines relevant terms.

Sections 2-4 make appropriate changes to the tax law to establish the
post production tax credit.

Section 5 amends the tax law to allow a city of one minion or more to
elect to allow a post production tax credit.

Section 6 establishes the effective date.

 JUSTIFICATION :

The Empire State Film Tax Credit, which was adopted in 2004 and
renewed in 2006, was an important step toward securing New York's
place as a competitive force in the film industry now and in the
future. According to the NYC Mayor's Office of Film, Theatre and
Broadcasting, production days in the City increased from 14,898 in
2002 to 34,718 in 2006. While this revival of the industry has been a
boon to the State and City of New York, a critical piece is missing -
post-production. Film and television post-production is a vital
economic revenue generator that, if properly Supported and encouraged,
will result in even greater revenues to the State and City of New
York. This work ranges from cutting-edge, high-tech editing and mixing
to original scoring. While these are good jobs, they are also highly
portable, and, in fact, post production is often shipped to other
cities or countries. There are many examples of scoring work sent to
London, or editing to Los Angeles even when production takes place in
New York. By including post production in the vision of a thriving
film industry in New York will be more complete, and New York will be
better for it.

 LEGISLATIVE HISTORY :


 FISCAL IMPLICATIONS :
To be determined.

 EFFECTIVE DATE :
This act shall take effect immediately and shall apply to taxable
years beginning on and after January 1, 2010.

2009-S4943 (ACTIVE) - Bill Text download pdf

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

                                  4943

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sen. SERRANO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cultural Affairs, Tourism,
  Parks and Recreation

AN ACT to amend the tax law, in relation to an empire  state  film  post
  production  tax credit and to amend the state finance law, in relation
  to establishing the New York state post production  internship  educa-
  tion  and  development  program  fund; and providing for the repeal of
  such provisions upon expiration thereof

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

  Section  1.  The tax law is amended by adding a new section 30 to read
as follows:
  S 30. EMPIRE STATE FILM POST PRODUCTION CREDIT. (A) ALLOWANCE OF CRED-
IT. (1) A TAXPAYER WHICH IS A FILM PRODUCTION  COMPANY  OR  A  QUALIFIED
FILM  PRODUCTION  COMPANY,  AND  WHICH  IS  SUBJECT TO TAX UNDER ARTICLE
NINE-A OR TWENTY-TWO OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT  AGAINST
SUCH  TAX,  PURSUANT  TO THE PROVISIONS REFERENCED IN SUBDIVISION (C) OF
THIS SECTION TO BE COMPUTED AS PROVIDED IN THIS SUBDIVISION.
  (2) (I) THE AMOUNT OF THE CREDIT SHALL BE THE  PRODUCT  (OR  PRO  RATA
SHARE  OF  THE PRODUCT, IN THE CASE OF A MEMBER OF A PARTNERSHIP) OF TEN
PERCENT AND THE QUALIFIED POST PRODUCTION COSTS PAID IN  THE  PRODUCTION
OF A QUALIFIED FILM AT A QUALIFIED POST PRODUCTION FACILITY.
  (II) IF A TAXPAYER IS ELIGIBLE FOR THE FILM PRODUCTION CREDIT PURSUANT
TO  SECTION  TWENTY-FOUR  OF THIS ARTICLE, AND THE POST PRODUCTION COSTS
OTHERWISE MEET THE REQUIREMENTS OF SUBPARAGRAPH (I) OF  THIS  PARAGRAPH,
THE  AMOUNT OF THE POST PRODUCTION CREDIT ALLOWED SUCH TAXPAYER SHALL BE
ENHANCED BY AN ADDITIONAL FIVE PERCENT WITH RESPECT  TO  SUCH  QUALIFIED
POST PRODUCTION COSTS.
  (3)  A  TAXPAYER  SHALL  NOT BE ELIGIBLE FOR THE CREDIT ESTABLISHED BY
THIS SECTION UNLESS THE QUALIFIED POST PRODUCTION COSTS AT  A  QUALIFIED
POST  PRODUCTION  FACILITY  MEET  OR  EXCEED SEVENTY-FIVE PERCENT OF THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09124-01-9

S. 4943                             2

TOTAL POST PRODUCTION COSTS PAID OR INCURRED IN THE POST  PRODUCTION  OF
THE  QUALIFIED FILM AT ANY POST PRODUCTION FACILITY. THE CREDIT SHALL BE
ALLOWED FOR THE TAXABLE YEAR IN WHICH THE PRODUCTION OF  SUCH  QUALIFIED
FILM IS COMPLETED.
  (4)  NO  QUALIFIED  POST PRODUCTION COSTS USED BY A TAXPAYER EITHER AS
THE BASIS FOR THE ALLOWANCE  OF  THE  CREDIT  PROVIDED  FOR  UNDER  THIS
SECTION OR USED IN THE CALCULATION OF THE CREDIT PROVIDED FOR UNDER THIS
SECTION SHALL BE USED BY SUCH TAXPAYER TO CLAIM ANY OTHER CREDIT ALLOWED
PURSUANT TO THIS CHAPTER.
  (B)  DEFINITIONS.  AS  USED  IN THIS SECTION THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS:
  (1) "QUALIFIED FILM PRODUCTION COMPANY"  AND  "QUALIFIED  FILM"  SHALL
HAVE  THE  SAME  MEANING  AS  ARE  ASCRIBED  TO  SUCH  TERMS  BY SECTION
TWENTY-FOUR OF THIS ARTICLE.
  (2) "FILM PRODUCTION COMPANY" IS A CORPORATION,  PARTNERSHIP,  LIMITED
PARTNERSHIP,  OR  OTHER ENTITY OR INDIVIDUAL WHICH OR WHO IS PRINCIPALLY
ENGAGED IN THE PRODUCTION OF A QUALIFIED FILM AND CONTROLS THE QUALIFIED
FILM DURING PRODUCTION.
  (3) "POST PRODUCTION COSTS" MEANS PRODUCTION OF ORIGINAL CONTENT FOR A
QUALIFIED FILM EMPLOYING TRADITIONAL, EMERGING AND  NEW  WORKFLOW  TECH-
NIQUES  USED  IN POST-PRODUCTION FOR PICTURE, SOUND AND MUSIC EDITORIAL,
RERECORDING AND MIXING, VISUAL EFFECTS, GRAPHIC DESIGN,  ORIGINAL  SCOR-
ING,  ANIMATION,  AND    MUSICAL  COMPOSITION; BUT SHALL NOT INCLUDE THE
EDITING OF PREVIOUSLY PRODUCED CONTENT FOR A QUALIFIED FILM.
  (4) "POST PRODUCTION FACILITY" MEANS  A  BUILDING  AND/OR  COMPLEX  OF
BUILDINGS  AND  THEIR IMPROVEMENTS ON WHICH FILM ARE INTENDED TO BE POST
PRODUCED.
  (5) "QUALIFIED POST  PRODUCTION  FACILITY"  MEANS  A  POST  PRODUCTION
FACILITY LOCATED IN THE STATE, ENGAGED IN FINISHING A QUALIFIED FILM.
  (C)  WITHHOLDING  OF  PORTION  OF  CREDIT.  NOTWITHSTANDING  ANY OTHER
PROVISION OF LAW TO THE CONTRARY, THE AMOUNT  SHALL  WITHHOLD  FROM  ANY
CREDIT  ALLOWED  A TAXPAYER PURSUANT TO THIS SECTION, AN AMOUNT EQUAL TO
SEVEN PERCENT OF SUCH CREDIT CLAIMED BY THE TAXPAYER. ALL  MONIES  WITH-
HELD  PURSUANT  TO  THIS SUBDIVISION SHALL BE CREDITED AND PAID INTO THE
NEW YORK STATE POST  PRODUCTION  INTERNSHIP  EDUCATION  AND  DEVELOPMENT
PROGRAM  FUND  ESTABLISHED  BY SECTION NINETY-ONE-H OF THE STATE FINANCE
LAW.
  (D) LIMITATION ON CREDIT. (1) THE  AGGREGATE  AMOUNT  OF  TAX  CREDITS
AUTHORIZED  PURSUANT  TO  THIS  SECTION  SHALL  NOT EXCEED SEVEN MILLION
DOLLARS IN EACH OF TWO THOUSAND NINE, TWO THOUSAND TEN AND TWO  THOUSAND
ELEVEN TAXABLE YEARS.
  (2)  THE  AGGREGATE  AMOUNT  OF TAX CREDITS EACH TAXABLE YEAR SHALL BE
ALLOCATED BY THE GOVERNOR'S OFFICE FOR  MOTION  PICTURE  AND  TELEVISION
DEVELOPMENT  AMONG TAXPAYERS IN ORDER OF PRIORITY BASED UPON THE DATE OF
FILING AN APPLICATION WITH SUCH OFFICE FOR ALLOCATION  OF  A  FILM  POST
PRODUCTION  CREDIT. IF THE TOTAL AMOUNT OF ALLOCATED CREDITS APPLIED FOR
DURING ANY TAXABLE YEAR EXCEEDS THE AGGREGATE AMOUNT THEREOF  AUTHORIZED
BY  PARAGRAPH  ONE  OF  THIS SUBDIVISION, SUCH EXCESS SHALL BE DEEMED TO
HAVE BEEN APPLIED FOR ON THE FIRST DAY  OF  THE  IMMEDIATELY  SUBSEQUENT
TAXABLE YEAR.
  (E)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
  (1) ARTICLE 9-A: SECTION 210: SUBDIVISION 41.
  (2) ARTICLE 22: SECTION 606: SUBSECTION (QQ).
  S 2. Section 210 of the tax law is amended by adding a new subdivision
41 to read as follows:

S. 4943                             3

  41. EMPIRE STATE FILM POST PRODUCTION CREDIT. (A) ALLOWANCE OF CREDIT.
A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION THIRTY  OF  THIS  CHAPTER
SHALL  BE  ALLOWED  A  CREDIT TO BE COMPUTED AS PROVIDED IN SUCH SECTION
THIRTY AGAINST THE TAX IMPOSED BY THIS ARTICLE.
  (B)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO  LESS
THAN  THE  AMOUNT PRESCRIBED IN PARAGRAPH (D) OF SUBDIVISION ONE OF THIS
SECTION. PROVIDED, HOWEVER, THAT IF THE AMOUNT OF THE  CREDIT  ALLOWABLE
UNDER  THIS  SUBDIVISION  FOR  ANY  TAXABLE YEAR REDUCES THE TAX TO SUCH
AMOUNT, FIFTY PERCENT OF THE EXCESS SHALL BE TREATED AS  AN  OVERPAYMENT
OF  TAX  TO BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF
SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER,  THE
PROVISIONS  OF  SUBSECTION  (C)  OF SECTION ONE THOUSAND EIGHTY-EIGHT OF
THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL  BE  PAID  THEREON.  THE
BALANCE OF SUCH CREDIT NOT CREDITED OR REFUNDED IN SUCH TAXABLE YEAR MAY
BE  A  CARRY  OVER TO THE IMMEDIATELY SUCCEEDING TAXABLE YEAR AND MAY BE
DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR. THE EXCESS, IF  ANY,  OF
THE  AMOUNT OF THE CREDIT OVER THE TAX FOR SUCH SUCCEEDING YEAR SHALL BE
TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN  ACCORD-
ANCE  WITH  THE  PROVISIONS  OF  SECTION ONE THOUSAND EIGHTY-SIX OF THIS
CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS OF SUBSECTION (C) OF  SECTION
ONE  THOUSAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST
SHALL BE PAID THEREON.
  S 3. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law, as amended by section 2 of part ZZ-1 of chapter 57 of
the laws of 2008, is amended to read as follows:
  (B) shall be treated as the owner of a new business  with  respect  to
such  share  if  the corporation qualifies as a new business pursuant to
paragraph (j) of subdivision twelve of section two hundred ten  of  this
chapter.

                                     The corporation's credit base under
                                     section two hundred ten or section
With respect to the following        fourteen hundred fifty-six of this
credit under this section:           chapter is:

Investment tax credit                Investment credit base
under subsection (a)                 or qualified
                                     rehabilitation
                                     expenditures under
                                     subdivision twelve of
                                     section two hundred ten

Empire zone                          Cost or other basis
investment tax credit                under subdivision
under subsection (j)                 twelve-B
                                     of section two hundred
                                     ten

Empire zone                          Eligible wages under
wage tax credit                      subdivision nineteen of
under subsection (k)                 section two hundred ten
                                     or subsection (e) of
                                     section fourteen hundred
                                     fifty-six

S. 4943                             4

Empire zone                          Qualified investments
capital tax credit                   and contributions under
under subsection (l)                 subdivision twenty of
                                     section two hundred ten
                                     or subsection (d) of
                                     section fourteen hundred
                                     fifty-six

Agricultural property tax            Allowable school
credit under subsection (n)          district property taxes under
                                     subdivision twenty-two of
                                     section two hundred ten

Credit for employment                Qualified first-year wages or
of persons with dis-                 qualified second-year wages
abilities under                      under subdivision
subsection (o)                       twenty-three of section
                                     two hundred ten
                                     or subsection (f)
                                     of section fourteen
                                     hundred fifty-six

Employment incentive                 Applicable investment credit
credit under subsec-                 base under subdivision
tion (a-1)                           twelve-D of section two
                                     hundred ten

Empire zone                          Applicable investment
employment                           credit under sub-
incentive credit under               division twelve-C
subsection (j-1)                     of section two hundred ten

Alternative fuels credit             Cost under subdivision
under subsection (p)                 twenty-four of section two
                                     hundred ten

Qualified emerging                   Applicable credit base
technology company                   under subdivision twelve-E
employment credit                    of section two hundred ten
under subsection (q)

Qualified emerging                   Qualified investments under
technology company                   subdivision twelve-F of
capital tax credit                   section two hundred ten
under subsection (r)

Credit for purchase of an            Cost of an automated
automated external defibrillator     external defibrillator under
under subsection (s)                 subdivision twenty-five of
                                     section two hundred ten
                                     or subsection (j) of section
                                     fourteen hundred fifty-six

Low-income housing                   Credit amount under
credit under subsection (x)          subdivision thirty
                                     of section two hundred ten or

S. 4943                             5

                                     subsection (l) of section
                                     fourteen hundred fifty-six

Credit for transportation            Amount of credit under sub-
improvement contributions            division thirty-two of section
under subsection (z)                 two hundred ten or subsection
                                     (n) of section fourteen
                                     hundred fifty-six

QEZE credit for real property        Amount of credit under
taxes under subsection (bb)          subdivision twenty-seven of
                                     section two hundred ten or
                                     subsection (o) of section
                                     fourteen hundred fifty-six

QEZE tax reduction credit            Amount of benefit period
under subsection (cc)                factor, employment increase factor
                                     and zone allocation
                                     factor (without regard
                                     to pro ration) under
                                     subdivision twenty-eight of
                                     section two hundred ten or
                                     subsection (p) of section
                                     fourteen hundred fifty-six
                                     and amount of tax factor
                                     as determined under
                                     subdivision (f) of section sixteen

Green building credit                Amount of green building credit
under subsection (y)                 under subdivision thirty-one
                                     of section two hundred ten
                                     or subsection (m) of section
                                     fourteen hundred fifty-six

Credit for long-term                 Qualified costs under
care insurance premiums              subdivision twenty-five-a of
under subsection (aa)                section two hundred ten
                                     or subsection (k) of section
                                     fourteen hundred fifty-six

Brownfield redevelopment             Amount of credit
credit under subsection              under subdivision
(dd)                                 thirty-three of section
                                     two hundred ten
                                     or subsection (q) of
                                     section fourteen hundred
                                     fifty-six

Remediated brownfield                Amount of credit under
credit for real property             subdivision thirty-four
taxes for qualified                  of section two hundred
sites under subsection               ten or subsection (r) of
(ee)                                 section fourteen hundred
                                     fifty-six

S. 4943                             6

Environmental                        Amount of credit under
remediation                          subdivision thirty-five of
insurance credit under               section two hundred
subsection (ff)                      ten or subsection
                                     (s) of section
                                     fourteen hundred
                                     fifty-six

Empire state film production         Amount of credit for qualified
credit under subsection (gg)         production costs in production
                                     of a qualified film under
                                     subdivision thirty-six of
                                     section two hundred ten

Qualified emerging                   Qualifying expenditures and
technology company facilities,       development activities under
operations and training credit       subdivision twelve-G of section
under subsection (nn)                two hundred ten

Security training tax                Amount of credit
credit under                         under subdivision thirty-seven
subsection (ii)                      of section two hundred ten or
                                     under subsection (t) of
                                     section fourteen hundred fifty-six

Credit for qualified fuel            Amount of credit under
cell electric generating equipment   subdivision thirty-seven
expenditures under subsection (g-2)  of section two hundred ten
                                     or subsection (t) of
                                     section fourteen hundred
                                     fifty-six

Empire state commercial production   Amount of credit for qualified
credit under subsection (jj)         production costs in production
                                     of a qualified commercial under
                                     subdivision thirty-eight of sec-
                                     tion two hundred ten

Biofuel production                   Amount of credit
tax credit under                     under subdivision
subsection (jj)                      thirty-eight of
                                     section two hundred ten

Clean heating fuel credit            Amount of credit under
under subsection (mm)                subdivision thirty-nine of
                                     section two hundred ten

Credit for rehabilitation            Amount of credit under
of historic properties               subdivision forty of
under subsection (oo)                [subsection] SECTION
                                     two hundred ten

Credit for companies who             Amount of credit under
provide transportation               subdivision forty of
to individuals                       section two hundred ten

S. 4943                             7

with disabilities
under subsection (oo)

EMPIRE STATE FILM                    AMOUNT OF CREDIT FOR
POST PRODUCTION                      QUALIFIED POST PRODUCTION
CREDIT UNDER                         COSTS OF A QUALIFIED FILM
SUBSECTION (QQ)                      UNDER SUBDIVISION FORTY-ONE OF
                                     SECTION TWO HUNDRED TEN
  S  4. Section 606 of the tax law is amended by adding a new subsection
(qq) to read as follows:
  (QQ) EMPIRE STATE FILM POST PRODUCTION CREDIT. (1) ALLOWANCE OF  CRED-
IT.  A TAXPAYER WHO IS ELIGIBLE PURSUANT TO SECTION THIRTY OF THIS CHAP-
TER SHALL BE ALLOWED A CREDIT TO BE COMPUTED AS PROVIDED IN SUCH SECTION
THIRTY AGAINST THE TAX IMPOSED BY THIS ARTICLE.
  (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
YEAR, FIFTY PERCENT OF THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT  OF
TAX  TO  BE  CREDITED  OR  REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF
SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER,  THE
PROVISIONS  OF  SUBSECTION  (C)  OF SECTION ONE THOUSAND EIGHTY-EIGHT OF
THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL  BE  PAID  THEREON.  THE
BALANCE OF SUCH CREDIT NOT CREDITED OR REFUNDED IN SUCH TAXABLE YEAR MAY
BE  CARRIED  OVER  TO THE IMMEDIATELY SUCCEEDING TAXABLE YEAR AND MAY BE
DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR. THE EXCESS, IF  ANY,  OF
THE  AMOUNT OF THE CREDIT OVER THE TAX FOR SUCH SUCCEEDING YEAR SHALL BE
TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN  ACCORD-
ANCE  WITH  THE  PROVISIONS  OF  SECTION ONE THOUSAND EIGHTY-SIX OF THIS
CHAPTER. PROVIDED, HOWEVER, THE PROVISIONS OF SUBSECTION (C) OF  SECTION
ONE  THOUSAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST
SHALL BE PAID THEREON.
  S 5. The state finance law is amended by adding a new section 91-h  to
read as follows:
  S 91-H. NEW YORK STATE POST PRODUCTION INTERNSHIP EDUCATION AND DEVEL-
OPMENT PROGRAM FUND. 1. THERE IS HEREBY ESTABLISHED, IN THE JOINT CUSTO-
DY  OF  THE  COMMISSIONER OF TAXATION AND FINANCE AND THE COMPTROLLER, A
SPECIAL FUND TO BE KNOWN AS THE "NEW YORK STATE POST PRODUCTION  INTERN-
SHIP EDUCATION AND DEVELOPMENT PROGRAM FUND".
  2. SUCH FUND SHALL CONSIST OF ALL REVENUE CREDITED THERETO PURSUANT TO
SUBDIVISION  (C)  OF SECTION THIRTY OF THE TAX LAW, AND ALL OTHER MONEYS
APPROPRIATED, CREDITED OR TRANSFERRED THERETO FROM  ANY  OTHER  FUND  OR
SOURCE  PURSUANT  TO  LAW.  NOTHING  IN  THIS SECTION SHALL BE DEEMED TO
PREVENT THE STATE FROM RECEIVING  GRANTS,  GIFTS  OR  BEQUESTS  FOR  THE
PURPOSES OF THE FUND AS DEFINED IN THIS SECTION AND DEPOSITING THEM INTO
THE FUND ACCORDING TO LAW.
  3.  THE  MONIES IN THE FUND, UPON APPROPRIATION SHALL ONLY BE EXPENDED
FOR THE PAYMENT OF TUITION ON BEHALF OF QUALIFIED INTERNS  PARTICIPATING
IN  POST  PRODUCTION  INTERNSHIPS WITH POST PRODUCTION COMPANIES. MONIES
SHALL BE PAYABLE FROM THE FUND FOR SUCH PURPOSE ON THE AUDIT AND WARRANT
OF THE COMPTROLLER ON VOUCHERS APPROVED AND CERTIFIED BY THE COMMISSION-
ER OF EDUCATION.
  4. FOR THE PURPOSES FOR THIS  SECTION,  "POST  PRODUCTION  INTERNSHIP"
MEANS  AN INTERNSHIP IN A QUALIFIED POST PRODUCTION FACILITY, AS DEFINED
IN SECTION THIRTY OF THE TAX LAW THAT HAS BEEN APPROVED BY THE  CHANCEL-
LOR  OF  THE  STATE UNIVERSITY OF NEW YORK, THE BOARD OF TRUSTEES OF THE
CITY UNIVERSITY OF NEW YORK, OR THE CHIEF ADMINISTRATIVE OFFICER OF  ANY
PRIVATE  COLLEGE  OR  UNIVERSITY FOR THE PURPOSE OF PROVIDING PRODUCTION

S. 4943                             8

EXPERIENCE AND SKILL DEVELOPMENT. NO SUCH INTERNSHIP SHALL  BE  ELIGIBLE
FOR  TUITION  COST  REIMBURSEMENT  UNLESS  IT  GRANTS ACADEMIC CREDIT TO
PARTICIPATING STUDENTS.
  S 6. This act shall take effect immediately and shall apply to taxable
years  beginning on or after January 1, 2010; provided, however that the
empire state film production credit under subsection  (gg),  the  empire
state  commercial production credit under subsection (jj) and the credit
for companies who provide transportation to individuals  with  disabili-
ties  under  subsection  (oo) of section 606 of the tax law contained in
section three of this act shall expire on the same date as  provided  in
section  9  of  part  P  of  chapter 60 of the laws of 2004, as amended,
section 10 of part V of chapter 62 of the laws of 2006, as  amended  and
section  5 of chapter 522 of the laws of 2006, as amended, respectively;
and provided further that the provisions of this act shall expire and be
deemed repealed on the same date as section 9 of part P of chapter 60 of
the laws of 2004, as amended.

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Senate Bill S4943

Sponsored By

Archive: Last Bill Status - In Senate Committee Cultural Affairs, Tourism, Parks And Recreation Committee

co-Sponsors

2009-S4943 (ACTIVE) - Details

2009-S4943 (ACTIVE) - Summary

2009-S4943 (ACTIVE) - Sponsor Memo

2009-S4943 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S4943

Share this bill

Sponsored By

Archive: Last Bill Status - In Senate Committee Cultural Affairs, Tourism, Parks And Recreation Committee

co-Sponsors

2009-S4943 (ACTIVE) - Details

2009-S4943 (ACTIVE) - Summary

2009-S4943 (ACTIVE) - Sponsor Memo

2009-S4943 (ACTIVE) - Bill Text download pdf

Comments