senate Bill S614

2013-2014 Legislative Session

Increases to 15% the amount of the empire state film production credit that can be taken against taxes administered by the city of New York

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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 08, 2014 referred to investigations and government operations
Jan 09, 2013 referred to investigations and government operations

Co-Sponsors

S614 - Details

Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §§1201-a & 24, Tax L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S1975A
2009-2010: A229

S614 - Summary

Increases 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; increases the aggregate of the credits which may be taken against such taxes.

S614 - Sponsor Memo

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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