senate Bill S5163A

2013-2014 Legislative Session

Establishes a musical and theatrical production credit against business franchise and personal income taxes for certain pre-Broadway and post-Broadway productions

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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

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 13, 2014 print number 5163b
amend and recommit to investigations and government operations
Jan 24, 2014 print number 5163a
amend and recommit to investigations and government operations
Jan 08, 2014 referred to investigations and government operations
May 13, 2013 referred to investigations and government operations

Bill Amendments

Original
A
B (Active)
Original
A
B (Active)

S5163 - Details

See Assembly Version of this Bill:
A8730
Current Committee:
Law Section:
Tax Law
Laws Affected:
Add §24-a, amd §§210 & 606, Tax L

S5163 - Summary

Establishes a musical and theatrical production credit against business franchise and personal income taxes for certain pre-Broadway and post-Broadway productions.

S5163 - Sponsor Memo

S5163 - Bill Text download pdf

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

                                  5163

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              May 13, 2013
                               ___________

Introduced  by  Sen.  LITTLE -- 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 establishing business  fran-
  chise and personal income tax credits for certain musical and theatri-
  cal production expenses

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

  Section 1. The tax law is amended by adding a new section 24-a to read
as follows:
  S 24-A. MUSICAL AND THEATRICAL PRODUCTION CREDIT. (A) (1) ALLOWANCE OF
CREDIT. A TAXPAYER WHICH IS A QUALIFIED PRODUCTION FACILITY, OR WHICH IS
A SOLE PROPRIETOR OF OR A MEMBER OF A PARTNERSHIP WHICH IS  A  QUALIFIED
PRODUCTION  FACILITY,  AND  WHICH SUBJECT TO TAX UNDER ARTICLE NINE-A OR
TWENTY-TWO OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST SUCH  TAX,
PURSUANT  TO  THE  PROVISIONS  REFERRED  TO  IN  SUBDIVISION (C) OF THIS
SECTION, AND TO BE COMPUTED AS PROVIDED IN THIS SECTION.
  (2) THE AMOUNT OF THE CREDIT SHALL BE THE PRODUCT (OR PRO  RATA  SHARE
OF THE PRODUCT, IN THE CASE OF A MEMBER OF A PARTNERSHIP) OF TWENTY-FIVE
PERCENT  AND  THE SUM OF THE PRODUCTION AND PERFORMANCE EXPENDITURES AND
THE TRANSPORTATION EXPENDITURES. IF THE AMOUNT OF THE CREDIT IS AT LEAST
ONE MILLION DOLLARS BUT LESS THAN FIVE MILLION DOLLARS, THE CREDIT SHALL
BE CLAIMED OVER A TWO YEAR PERIOD BEGINNING IN THE FIRST TAXABLE YEAR IN
WHICH THE CREDIT MAY BE CLAIMED AND IN THE NEXT SUCCEEDING TAXABLE YEAR,
WITH ONE-HALF OF THE AMOUNT OF CREDIT  ALLOWED  BEING  CLAIMED  IN  EACH
YEAR.  IF THE AMOUNT OF THE CREDIT IS AT LEAST FIVE MILLION DOLLARS, THE
CREDIT SHALL BE CLAIMED OVER A THREE YEAR PERIOD BEGINNING IN THE  FIRST
TAXABLE  YEAR  IN  WHICH  THE  CREDIT MAY BE CLAIMED AND IN THE NEXT TWO
SUCCEEDING TAXABLE YEARS, WITH ONE-THIRD OF THE  AMOUNT  OF  THE  CREDIT
ALLOWED BEING CLAIMED IN EACH YEAR.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09449-02-3

Co-Sponsors

S5163A - Details

See Assembly Version of this Bill:
A8730
Current Committee:
Law Section:
Tax Law
Laws Affected:
Add §24-a, amd §§210 & 606, Tax L

S5163A - Summary

Establishes a musical and theatrical production credit against business franchise and personal income taxes for certain pre-Broadway and post-Broadway productions.

S5163A - Sponsor Memo

S5163A - Bill Text download pdf

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

                                 5163--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              May 13, 2013
                               ___________

Introduced  by  Sen.  LITTLE -- 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 establishing business fran-
  chise and personal income tax credits for certain musical and theatri-
  cal production expenses

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

  Section 1. The tax law is amended by adding a new section 24-a to read
as follows:
  S 24-A. MUSICAL AND THEATRICAL PRODUCTION CREDIT. (A) (1) ALLOWANCE OF
CREDIT. A TAXPAYER WHICH IS A QUALIFIED PRODUCTION FACILITY, OR WHICH IS
A  SOLE  PROPRIETOR OF OR A MEMBER OF A PARTNERSHIP WHICH IS A QUALIFIED
PRODUCTION FACILITY, AND WHICH SUBJECT TO TAX UNDER  ARTICLE  NINE-A  OR
TWENTY-TWO  OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX,
PURSUANT TO THE PROVISIONS  REFERRED  TO  IN  SUBDIVISION  (C)  OF  THIS
SECTION, AND TO BE COMPUTED AS PROVIDED IN THIS SECTION.
  (2)  THE  AMOUNT OF THE CREDIT SHALL BE THE PRODUCT (OR PRO RATA SHARE
OF THE PRODUCT, IN THE CASE OF A MEMBER OF A PARTNERSHIP) OF TWENTY-FIVE
PERCENT AND THE SUM OF THE PRODUCTION AND PERFORMANCE  EXPENDITURES  AND
THE TRANSPORTATION EXPENDITURES. IF THE AMOUNT OF THE CREDIT IS AT LEAST
ONE MILLION DOLLARS BUT LESS THAN FIVE MILLION DOLLARS, THE CREDIT SHALL
BE CLAIMED OVER A TWO YEAR PERIOD BEGINNING IN THE FIRST TAXABLE YEAR IN
WHICH THE CREDIT MAY BE CLAIMED AND IN THE NEXT SUCCEEDING TAXABLE YEAR,
WITH  ONE-HALF  OF  THE  AMOUNT  OF CREDIT ALLOWED BEING CLAIMED IN EACH
YEAR. IF THE AMOUNT OF THE CREDIT IS AT LEAST FIVE MILLION DOLLARS,  THE
CREDIT  SHALL BE CLAIMED OVER A THREE YEAR PERIOD BEGINNING IN THE FIRST
TAXABLE YEAR IN WHICH THE CREDIT MAY BE CLAIMED  AND  IN  THE  NEXT  TWO

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09449-03-4

Co-Sponsors

S5163B (ACTIVE) - Details

See Assembly Version of this Bill:
A8730
Current Committee:
Law Section:
Tax Law
Laws Affected:
Add §24-a, amd §§210 & 606, Tax L

S5163B (ACTIVE) - Summary

Establishes a musical and theatrical production credit against business franchise and personal income taxes for certain pre-Broadway and post-Broadway productions.

S5163B (ACTIVE) - Sponsor Memo

S5163B (ACTIVE) - Bill Text download pdf

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

                                 5163--B

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              May 13, 2013
                               ___________

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

AN ACT to amend the tax law, in relation to establishing business  fran-
  chise and personal income tax credits for certain musical and theatri-
  cal production expenses

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

  Section 1. The tax law is amended by adding a new section 24-a to read
as follows:
  S 24-A. MUSICAL AND THEATRICAL PRODUCTION CREDIT. (A) (1) ALLOWANCE OF
CREDIT. A TAXPAYER WHICH IS A QUALIFIED THEATER PRODUCTION  COMPANY,  OR
WHICH  IS  A  SOLE PROPRIETOR OF OR A MEMBER OF A PARTNERSHIP WHICH IS A
QUALIFIED THEATER PRODUCTION COMPANY, AND WHICH  SUBJECT  TO  TAX  UNDER
ARTICLE  NINE-A OR TWENTY-TWO OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT
AGAINST SUCH TAX, PURSUANT TO THE PROVISIONS REFERRED TO IN  SUBDIVISION
(C) OF THIS SECTION, AND TO BE COMPUTED AS PROVIDED IN THIS SECTION.
  (2)  THE  AMOUNT OF THE CREDIT SHALL BE THE PRODUCT (OR PRO RATA SHARE
OF THE PRODUCT, IN THE CASE OF A MEMBER OF A PARTNERSHIP) OF TWENTY-FIVE
PERCENT AND THE SUM OF THE PRODUCTION AND PERFORMANCE  EXPENDITURES  AND
THE TRANSPORTATION EXPENDITURES. IF THE AMOUNT OF THE CREDIT IS AT LEAST
ONE MILLION DOLLARS BUT LESS THAN FIVE MILLION DOLLARS, THE CREDIT SHALL
BE CLAIMED OVER A TWO YEAR PERIOD BEGINNING IN THE FIRST TAXABLE YEAR IN
WHICH THE CREDIT MAY BE CLAIMED AND IN THE NEXT SUCCEEDING TAXABLE YEAR,
WITH  ONE-HALF  OF  THE  AMOUNT  OF CREDIT ALLOWED BEING CLAIMED IN EACH
YEAR. IF THE AMOUNT OF THE CREDIT IS AT LEAST FIVE MILLION DOLLARS,  THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09449-05-4

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