senate Bill S2027A

2013-2014 Legislative Session

Relates to the empire state film production tax credit

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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
Mar 28, 2014 print number 2027a
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)

S2027 - Details

See Assembly Version of this Bill:
A5621A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §1201-a, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S2883, A5562
2009-2010: S5674, A8761

S2027 - 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.

S2027 - Sponsor Memo

S2027 - Bill Text download pdf

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

                                  2027

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sen. SQUADRON -- 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 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
RESPECT TO QUALIFIED PRODUCTION COSTS; PROVIDED, HOWEVER,  THAT  IF  THE

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

S2027A (ACTIVE) - Details

See Assembly Version of this Bill:
A5621A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §1201-a, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S2883, A5562
2009-2010: S5674, A8761

S2027A (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.

S2027A (ACTIVE) - Sponsor Memo

S2027A (ACTIVE) - Bill Text download pdf

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

                                 2027--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sen. SQUADRON -- 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 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;

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

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