senate Bill S115A

2013-2014 Legislative Session

Provides for an annual increase in the aggregate annual amount of empire state film production credits taken, based upon inflation

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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 23, 2014 print number 115a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

Bill Amendments

Original
A (Active)
Original
A (Active)

S115 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §24, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7023

S115 - Summary

Provides for an annual increase in the aggregate annual amount of empire state film production credits taken, based upon inflation.

S115 - Sponsor Memo

S115 - Bill Text download pdf

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

                                   115

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen. PERALTA -- 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, in relation to the aggregate annual  amount
  of the empire state film production credit against state taxes

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

  Section 1.  Paragraph 4 of subdivision (e) of section 24  of  the  tax
law,  as added by chapter 268 of the laws of 2012, is amended to read as
follows:
  (4) Additional pool 2 - The aggregate amount of tax credits allowed in
subdivision (a) of this section shall  be  increased  by  an  [addition]
ADDITIONAL four hundred twenty million dollars in two thousand ten, four
hundred  twenty  million  dollars  in  two thousand eleven, four hundred
twenty million dollars in  two  thousand  twelve,  four  hundred  twenty
million  dollars  in  two  thousand  thirteen [and], four hundred twenty
million dollars in two thousand fourteen AND THEREAFTER, EXCEPT THAT  IN
TAX  YEARS  AFTER  TWO  THOUSAND FOURTEEN, SUCH AMOUNT SHALL BE ADJUSTED
ANNUALLY ON THE FIRST OF JANUARY FOR INFLATION ACCORDING TO THE CONSUMER
PRICE  INDEX  FOR  ALL  CONSUMERS,  ALL  ITEMS,  NORTHEAST  REGION,  NOT
SEASONALLY  ADJUSTED,  OF  THE PREVIOUS YEAR, BUT IN NO EVENT SHALL SUCH
AMOUNT BE LESS THAN FOUR HUNDRED TWENTY MILLION DOLLARS; provided howev-
er, seven million dollars of the annual allocation  shall  be  available
for  the  empire  state  film post production credit pursuant to section
thirty-one of this chapter. This amount shall be allocated by the gover-
nor's office for motion picture and television development among taxpay-
ers in accordance with subdivision (a) of this section. If the  director
of  the  governor's office for motion picture and television development
determines that the aggregate amount of tax credits available from addi-
tional pool 2 for the empire state film production tax credit have  been

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

S115A (ACTIVE) - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §24, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S7023

S115A (ACTIVE) - Summary

Provides for an annual increase in the aggregate annual amount of empire state film production credits taken, based upon inflation.

S115A (ACTIVE) - Sponsor Memo

S115A (ACTIVE) - Bill Text download pdf

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

                                 115--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen. PERALTA -- 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, in relation to the aggregate annual amount
  of the empire state film production credit against state taxes

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

  Section  1.    Paragraph 4 of subdivision (e) of section 24 of the tax
law, as amended by section 3 of part B of chapter  59  of  the  laws  of
2013, is amended to read as follows:
  (4) Additional pool 2 - The aggregate amount of tax credits allowed in
subdivision (a) of this section shall be increased by an additional four
hundred twenty million dollars in each year starting in two thousand ten
through two thousand [nineteen] FOURTEEN, EXCEPT THAT IN TAX YEARS AFTER
TWO  THOUSAND  FOURTEEN,  SUCH  AMOUNT SHALL BE ADJUSTED ANNUALLY ON THE
FIRST OF JANUARY FOR INFLATION ACCORDING TO THE CONSUMER PRICE INDEX FOR
ALL CONSUMERS, ALL ITEMS, NORTHEAST REGION, NOT SEASONALLY ADJUSTED,  OF
THE  PREVIOUS  YEAR, BUT IN NO EVENT SHALL SUCH AMOUNT BE LESS THAN FOUR
HUNDRED TWENTY MILLION DOLLARS; provided however, seven million  dollars
of  the  annual  allocation shall be available for the empire state film
post production credit pursuant to section thirty-one of this article in
two thousand thirteen and two thousand fourteen and twenty-five  million
dollars of the annual allocation shall be available for the empire state
film post production credit pursuant to section thirty-one of this arti-
cle  in  each year starting in two thousand fifteen through two thousand
nineteen. This amount shall be allocated by the  governor's  office  for
motion  picture and television development among taxpayers in accordance

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

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