senate Bill S6766

2013-2014 Legislative Session

Relates to raising existing and creating new tax credits for qualifying commercial production companies

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 07, 2014 referred to investigations and government operations

S6766 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§28 & 606, Tax L; amd Part I §7, Chap 59 of 2012

S6766 - Summary

Raises existing and creates new tax credits for qualifying commercial production companies and extends duration of such tax credits.

S6766 - Sponsor Memo

S6766 - Bill Text download pdf

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


                            I N  S E N A T E

                              March 7, 2014

Introduced  by Sen. GALLIVAN -- 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  empire  state  commercial
  production  credit;  and  to amend part I of chapter 59 of the laws of
  2012, amending the tax law, relating to  extending  the  empire  state
  commercial production tax credit; and to amend part V of chapter 62 of
  the  laws  of  2006 relating to the empire state commercial production
  tax credit, relating to the effectiveness thereof, in relation to  the
  effectiveness thereof


  Section 1. Paragraph 1 of subdivision (a) of section  28  of  the  tax
law,  as  amended  by  section  1 of part I of chapter 59 of the laws of
2012, is amended to read as follows:
  (1) A taxpayer which is a qualified commercial production company,  or
which is a sole proprietor of a qualified commercial production company,
and  which  is 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 referenced in subdivision (c) of this section, to be computed
as  provided in this section. Provided, however, to be eligible for such
credit, at least seventy-five percent of the production costs (excluding
[post production] POST-PRODUCTION costs) paid or incurred  directly  and
predominantly  in  the  actual  filming  or  recording  of the qualified
commercial must be costs incurred in New  York  state.  The  tax  credit
allowed  pursuant to this section shall apply to taxable years beginning
before January first, two thousand [fifteen] SEVENTEEN.
  S 2. Subparagraph (iii) of paragraph 2 of subdivision (a)  of  section
28  of  the  tax law, as amended by section 2 of part I of chapter 59 of
the laws of 2012, is amended to read as follows:
  (iii) The state annually will disburse  three  million  of  the  total
seven  million  in  tax credits to all eligible production companies who
film or record a qualified commercial outside of the metropolitan commu-
ter transportation district as defined in section twelve hundred  sixty-

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


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