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

download bill text pdf

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Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (4)
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

S1975 - 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 - 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.

S1975 - Sponsor Memo

S1975 - Bill Text download pdf

                    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

S1975A (ACTIVE) - 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) - 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.

S1975A (ACTIVE) - Sponsor Memo

S1975A (ACTIVE) - Bill 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

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