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

                                 5621--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              March 4, 2013
                               ___________

Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
  Committee on Ways and Means -- recommitted to the  Committee  on  Ways
  and  Means  in  accordance  with  Assembly Rule 3, sec. 2 -- 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;
  (B) SUCH CREDIT SHALL NOT EXCEED TWO HUNDRED  FIFTY  THOUSAND  DOLLARS
PER  QUALIFIED  FILM  OR  EPISODE  OF A QUALIFIED TELEVISION SERIES WITH

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05563-03-4
              

A. 5621--A                          2

RESPECT TO QUALIFIED PRODUCTION COSTS; PROVIDED, HOWEVER,  THAT  IF  THE
QUALIFIED  POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE
TO THE USE OF TANGIBLE PROPERTY OR THE PERFORMANCE OF SERVICES AT A FILM
POST  PRODUCTION  FACILITY WITHIN THE CITY OF NEW YORK IN THE PRODUCTION
OF SUCH QUALIFIED FILM EQUAL OR EXCEED SEVENTY-FIVE PERCENT OF  ALL  THE
POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE TO THE USE
OF  TANGIBLE  PROPERTY  OR  THE PERFORMANCE OF SERVICES AT ANY FILM POST
PRODUCTION FACILITY WITHIN AND WITHOUT THE CITY  IN  THE  PRODUCTION  OF
SUCH  QUALIFIED  FILM,  THEN THE AGGREGATE ANNUAL MAXIMUM ALLOWED CREDIT
SHALL BE THREE HUNDRED THOUSAND DOLLARS,
  [(B)] (C) whenever such section twenty-four references the state, such
words shall be read as referencing the city,
  [(C)] (D) such credit shall be allowed only to a taxpayer which  is  a
qualified film production company, [and
  (D)]  (E)  the  effective date of such credit shall be July first, two
thousand six. 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
differences  between  the general corporation tax and the unincorporated
business tax, AND
  (F) FOR PURPOSES OF THIS SUBDIVISION, "TELEVISION SERIES" OR "EPISODIC
TELEVISION SERIES" MEANS A RECURRING PRODUCTION INTENDED IN ITS  INITIAL
RUN   FOR   BROADCAST   ON   TELEVISION,   WHETHER   FREE   OR   THROUGH
SUBSCRIPTION-BASED SERVICE, THAT HAS A RUNNING TIME OF AT  LEAST  THIRTY
MINUTES  IN  LENGTH, INCLUSIVE OF COMMERCIAL ADVERTISEMENT AND INTERSTI-
TIAL PROGRAMMING.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2014; provided further that  this
act shall apply to applications filed on or after January 1, 2014.