senate Bill S1975A

2011-2012 Legislative Session

Increases to 15% the amount of the empire state film production credit that can be taken against taxes administered by the city of New York

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 05, 2012 print number 1975a
amend and recommit to investigations and government operations
Jan 04, 2012 referred to investigations and government operations
Jan 14, 2011 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

S1975 - Bill Details

See Assembly Version of this Bill:
A4834A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §1201-a, Tax L; amd Part P §7, Chap 60 of 2004
Versions Introduced in 2009-2010 Legislative Session:
A229

S1975 - Bill Texts

view summary

Increases to 15% the amount of the empire state film production credit that can be taken against taxes administered by cities of one million or more; increases the aggregate of the credits which may be taken against such taxes.

view sponsor memo
BILL NUMBER:S1975

TITLE OF BILL:
An act
to amend the tax law and 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 amount of such credits
against taxes administered by cities of one million or more

PURPOSE:
To increase to 15% the amount of the empire state film production
credit that can be taken against taxes administered by cities of one
million or more.

SUMMARY OF PROVISIONS:
Section 1. Subdivision (b) of section l20l-a of the tax law, as
amended by section 5 of part y of chapter 62 of the laws of 2006, is
amended to authorize any city with a population of one million or
more to adopt the Empire state film production tax credit acting
through its local legislative body and amend local laws to allow a 15
percent credit against the general corporation tax and the
unincorporated business tax.

Section 2. Subdivision (b) of section 7 of 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, as
amended by section 2 of part y of chapter 62 of the laws of 2006,
amends the aggregate amount of tax credits allowed pursuant to the
authority of subdivision (b) of section l20l-a of the tax law in any
calendar year shall be 30 million in 2007, 32.5 million in 2008, 37.5
million ion 2009, 42.5 million in 2010, 45 million in 2011 and in
2012, and $55 million in 2013.

JUSTIFICATION:
New York's film tax credit is one of the most successful economic
development programs in recent history. Since New York State tripled
its own film production tax credit, film and television shooting days
are up 84 percent. These shoots employ more union actors and extras
than typical production days, and are thus a strong measure of the
broader employment impact of increased filming.

Since the initial credit was enacted, $600 million and over 6,000 new
jobs have been generated for the New York City's economy. This new
legislation would vastly expand on those results by tripling the
production credit from 5 percent to 15 percent. By joining the state
in this program, New York City can maximize the economic benefits for
our
region at a time when the economy is struggling. Increased tax credits
would ensure that the recent growth in New York's film production
business continues, and that our economy receives a much-needed boost
at a sensitive time.

In addition, Screen Actors Guild officials note that New York State's
newly tripled credit, along with the City's initial credit, has
brought a significant number of previously uninsured actors into the
union-sponsored healthcare program.


PRIOR LEGISLATIVE HISTORY:
None.

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
This act shall take effect
immediately and applies to
the taxable years beginning on or after July 1, 2010
and shall apply to
applications filed on or after the date it becomes a law; provided,
however, that the amendments to subdivision (b) of section 1201-a of
the tax law, made by section one of this act, and subdivision (b) of
section 7 of part p of chapter 60 of the laws of 2004, made by
section two of this act, shall not affect the repeal of such
subdivisions and shall be deemed repealed therewith.

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

                                  1975

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 14, 2011
                               ___________

Introduced  by Sen. GIANARIS -- 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 and 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 amount
  of such credits against taxes administered by cities 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) the percentage of qualified  production
costs used to calculate such credit shall be [five] FIFTEEN percent, (B)
whenever such section twenty-four references the state, such words shall
be  read  as referencing the city, (C) such credit shall be allowed only
to a taxpayer which is a qualified film production company, and (D)  the
effective  date  of  such credit shall be July first, two thousand [six]
EIGHT.  Such credit shall be applied in a  manner  consistent  with  the
credit  allowed  under subdivision thirty-six of section two hundred ten
of this chapter except as may be necessary to take into account  differ-
ences  between  the general corporation tax and the unincorporated busi-
ness tax.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05753-01-1

S. 1975                             2

  S 2.  Subdivision (b) of section 7 of 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, as amended by
section  2  of  part  Y of chapter 62 of the laws of 2006, is amended to
read as follows:
  (b)  The  aggregate  amount  of  tax  credits  allowed pursuant to the
authority of subdivision (b) of section 1201-a of the  tax  law  in  any
calendar year shall be $12.5 million in 2004 and 2005 [and], $30 million
in  2006  through  [2011]  2009, $32.5 MILLION IN 2010, $37.5 MILLION IN
2011, $42.5 MILLION IN 2012, $45 MILLION  IN  2013  AND  2014,  AND  $55
MILLION IN 2015.  Such aggregate amount of credits shall be allocated by
the  mayor's office of film, theater and broadcasting among taxpayers in
order of priority based upon the date of filing an application for allo-
cation of film production credit with such office. If the  total  amount
of  allocated  credits  applied  for  in any particular year exceeds the
aggregate amount of  tax  credits  allowed  for  such  year  under  this
section,  such excess shall be treated as having been applied for on the
first day of the subsequent year.
  S 3. This act shall take effect immediately  and  applies  to  taxable
years beginning on or after July 1, 2010 and shall apply to applications
filed on or after the date it becomes a law.

S1975A (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A4834A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §1201-a, Tax L; amd Part P §7, Chap 60 of 2004
Versions Introduced in 2009-2010 Legislative Session:
A229

S1975A (ACTIVE) - Bill Texts

view summary

Increases to 15% the amount of the empire state film production credit that can be taken against taxes administered by cities of one million or more; increases the aggregate of the credits which may be taken against such taxes.

view sponsor memo
BILL NUMBER:S1975A

TITLE OF BILL:
An act
to amend the tax law and 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 amount of such credits
against taxes administered by cities of one million or more

PURPOSE:
To increase to 15.% the amount of the empire state film production
credit that can be taken against taxes administered by cities of one
million or more.

SUMMARY OF PROVISIONS:
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 authorize any city with a population of one million or
more to adopt the Empire state film production tax credit acting
through its local legislative body and amend local laws to allow a 15
percent credit against the general corporation tax and the
unincorporated business tax.

Section 2. Subdivision (b) of section 7 of 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, as
amended by section 2 of part y of chapter 62 of the laws of 2006,
amends the aggregate amount of tax credits allowed pursuant to the
authority of subdivision (b) of section 1201a of the tax law in any
calendar year shall be 30 million in 2006 through 2010, 37.5 million
in 2011, 42.5 million in 2012, 45 million in 2013 and 2014, and $55
million in 2015.

JUSTIFICATION:
New York's film tax credit is one of the most successful economic
development programs in recent history. Since New York State tripled
its own film production tax credit, film and television shooting days
are up 84 percent. These shoots employ more union actors and extras
than typical production days, and are thus a strong measure of the
broader employment impact of increased filming.

Since the initial credit was enacted, $600 million and over 6,000 new
jobs have been generated for the New York City's economy. This new
legislation would vastly expand on those results by tripling the
production credit from 5 percent to 15 percent. By joining the state
in this program, New York City can maximize the economic benefits for
our region at a time when the economy is struggling. Increased tax
credits would ensure that the recent growth in New York's film
production business continues, and that our economy receives a
much-needed boost at a sensitive time.

In addition, Screen Actors Guild officials note that New York State's
newly tripled credit, along with the City's initial credit, has
brought a significant number of previously uninsured actors into the
union-sponsored healthcare program.

PRIOR LEGISLATIVE HISTORY: None.


FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE:
This act shall take effect immediately and applies to the taxable
years beginning on or after July 1, 2011 and shall apply to
applications filed on or after the date it becomes a law.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 1975--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 14, 2011
                               ___________

Introduced  by Sen. GIANARIS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations -- recommitted to the Committee on Investigations  and
  Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT to amend the tax law and 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 amount
  of such credits against taxes administered by cities 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) the percentage of qualified production
costs used to calculate such credit shall be [five] FIFTEEN percent, (B)
whenever such section twenty-four references the state, such words shall
be read as referencing the city, (C) such credit shall be  allowed  only
to  a taxpayer which is a qualified film production company, and (D) the
effective date of such credit shall be July first,  two  thousand  [six]
EIGHT.    Such  credit  shall be applied in a manner consistent with the
credit allowed under subdivision thirty-six of section two  hundred  ten

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05753-02-1

S. 1975--A                          2

of  this chapter except as may be necessary to take into account differ-
ences between the general corporation tax and the  unincorporated  busi-
ness tax.
  S 2.  Subdivision (b) of section 7 of 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, as amended by
section 2 of part Y of chapter 62 of the laws of  2006,  is  amended  to
read as follows:
  (b)  The  aggregate  amount  of  tax  credits  allowed pursuant to the
authority of subdivision (b) of section 1201-a of the  tax  law  in  any
calendar year shall be $12.5 million in 2004 and 2005 [and], $30 million
in  2006  through  [2011]  2010, $37.5 MILLION IN 2011, $42.5 MILLION IN
2012, $45 MILLION IN 2013 AND 2014, AND  $55  MILLION  IN  2015.    Such
aggregate  amount of credits shall be allocated by the mayor's office of
film, theater and broadcasting among  taxpayers  in  order  of  priority
based  upon  the  date  of  filing an application for allocation of film
production credit with such office. If the  total  amount  of  allocated
credits  applied for in any particular year exceeds the aggregate amount
of tax credits allowed for such year under  this  section,  such  excess
shall  be  treated  as  having  been applied for on the first day of the
subsequent year.
  S 3. This act shall take effect immediately  and  applies  to  taxable
years beginning on or after July 1, 2011 and shall apply to applications
filed on or after the date it becomes a law.

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