Senate Bill S5674

2009-2010 Legislative Session

Relates to the empire state film production tax credit

download bill text pdf

Sponsored By

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

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2009-S5674 (ACTIVE) - Details

See Assembly Version of this Bill:
A8761
Current Committee:
Senate Investigations And Government Operations
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:
2011-2012: S2883, A5562
2013-2014: S2027, A5621

2009-S5674 (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.

2009-S5674 (ACTIVE) - Sponsor Memo

2009-S5674 (ACTIVE) - Bill Text download pdf

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

                                  5674

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              May 27, 2009
                               ___________

Introduced  by  Sen. SCHNEIDERMAN -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Investigations  and
  Government Operations

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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14022-01-9
              

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