|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to investigations and government operations|
|Jan 09, 2013||referred to investigations and government operations|
senate Bill S614
Archive: Last Bill Status - In Senate Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S614 - Details
S614 - Sponsor Memo
BILL NUMBER:S614 TITLE OF BILL: An act to amend the tax law, in relation to the amount of such credits against taxes administered by cities of one million or more PURPOSE: To increase 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. SUMMARY OF PROVISIONS: 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 authorize any city with a population of one million or more to adopt the Empire state film production tax credit acting through its local legislative body and amend local laws to allow a 15 percent credit against the general corporation tax and the unincorporated business tax. Section 2. Paragraph 2 of subdivision (e) of section 24 of the tax law, as added by chapter 268 of the laws of 2012, is amended relating to providing tax credits for certain costs incurred in film and
S614 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 614 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ 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, 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. S 2. Paragraph 2 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: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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