S T A T E O F N E W Y O R K
________________________________________________________________________
5621--A
2013-2014 Regular Sessions
I N A S S E M B L Y
March 4, 2013
___________
Introduced by M. of A. ENGLEBRIGHT -- read once and referred to the
Committee on Ways and Means -- recommitted to the Committee on Ways
and Means in accordance with Assembly Rule 3, sec. 2 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the tax law, in relation to the allocation of such cred-
it 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.
LBD05563-03-4
A. 5621--A 2
RESPECT TO QUALIFIED PRODUCTION COSTS; PROVIDED, HOWEVER, THAT IF THE
QUALIFIED POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE
TO THE USE OF TANGIBLE PROPERTY OR THE PERFORMANCE OF SERVICES AT A FILM
POST PRODUCTION FACILITY WITHIN THE CITY OF NEW YORK IN THE PRODUCTION
OF SUCH QUALIFIED FILM EQUAL OR EXCEED SEVENTY-FIVE PERCENT OF ALL THE
POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE TO THE USE
OF TANGIBLE PROPERTY OR THE PERFORMANCE OF SERVICES AT ANY FILM POST
PRODUCTION FACILITY WITHIN AND WITHOUT THE CITY IN THE PRODUCTION OF
SUCH QUALIFIED FILM, THEN THE AGGREGATE ANNUAL MAXIMUM ALLOWED CREDIT
SHALL BE THREE HUNDRED THOUSAND DOLLARS,
[(B)] (C) whenever such section twenty-four references the state, such
words shall be read as referencing the city,
[(C)] (D) such credit shall be allowed only to a taxpayer which is a
qualified film production company, [and
(D)] (E) the effective date of such credit shall be July first, two
thousand six. 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
differences between the general corporation tax and the unincorporated
business tax, AND
(F) FOR PURPOSES OF THIS SUBDIVISION, "TELEVISION SERIES" OR "EPISODIC
TELEVISION SERIES" MEANS A RECURRING PRODUCTION INTENDED IN ITS INITIAL
RUN FOR BROADCAST ON TELEVISION, WHETHER FREE OR THROUGH
SUBSCRIPTION-BASED SERVICE, THAT HAS A RUNNING TIME OF AT LEAST THIRTY
MINUTES IN LENGTH, INCLUSIVE OF COMMERCIAL ADVERTISEMENT AND INTERSTI-
TIAL PROGRAMMING.
S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2014; provided further that this
act shall apply to applications filed on or after January 1, 2014.