Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 28, 2016 |
tabled vetoed memo.255 |
Nov 16, 2016 |
delivered to governor |
Jun 16, 2016 |
returned to assembly passed senate 3rd reading cal.1871 substituted for s7485b |
Jun 16, 2016 |
substituted by a10083b ordered to third reading cal.1871 committee discharged and committed to rules |
Jun 13, 2016 |
print number 7485b |
Jun 13, 2016 |
amend (t) and recommit to investigations and government operations |
May 27, 2016 |
print number 7485a |
May 27, 2016 |
amend and recommit to investigations and government operations |
May 04, 2016 |
referred to investigations and government operations |
Senate Bill S7485B
Vetoed By Governor2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A10083 - Vetoed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Vetoed By Governor
- Signed By Governor
Actions
Votes
Bill Amendments
2015-S7485 - Details
2015-S7485 - Sponsor Memo
BILL NUMBER: S7485 TITLE OF BILL : An act to amend the tax law and the economic development law, in relation to the creation of the empire state music production credit and the empire state digital gaming media production credit; and to repeal subdivision 11 of section 352 of the economic development law relating thereto PURPOSE : To remake the digital media gaming and music credits adopted in Part K of the Revenue bill in last year's budget, into a "below-the-line" production credit This will allow both the industries to accurately calculate the benefits of the programs, allow the State to better monitor the credits, and to ease access to the incentives. Both industries are of the opinion that the credits as currently in statute are unworkable and are actually serving as a deterrent to growth for New York companies. SUMMARY OF PROVISIONS : Section one creates a new section forty-three in the Tax Law to provide a production incentive for the creation of music products in New York.
2015-S7485 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7485 I N S E N A T E May 4, 2016 ___________ Introduced by Sen. GOLDEN -- 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 and the economic development law, in relation to the creation of the empire state music production credit and the empire state digital gaming media production credit; and to repeal subdivision 11 of section 352 of the economic development law relating thereto 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 43 to read as follows: S 43. EMPIRE STATE MUSIC PRODUCTION CREDIT. (A) ALLOWANCE OF CREDIT. (1) A TAXPAYER WHICH IS A MUSIC PRODUCTION ENTITY ENGAGED IN QUALIFIED MUSIC PRODUCTION, OR WHO IS A SOLE PROPRIETOR OF OR A MEMBER OF A PART- NERSHIP, WHICH IS A MUSIC PRODUCTION ENTITY ENGAGED IN QUALIFIED MUSIC PRODUCTION, AND IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX TO BE COMPUTED AS PROVIDED HEREIN. (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 OR LIMITED LIABILITY COMPANY) OF TWENTY-FIVE PERCENT AND THE ELIGIBLE PRODUCTION COSTS OF ONE OR MORE QUALIFIED MUSIC PRODUCTIONS. (3) ELIGIBLE PRODUCTION COSTS FOR A QUALIFIED MUSIC PRODUCTION INCURRED AND PAID IN THIS STATE BUT OUTSIDE SUCH METROPOLITAN COMMUTER TRANSPORTATION DISTRICT SHALL BE ELIGIBLE FOR A CREDIT OF TEN PERCENT OF SUCH ELIGIBLE PRODUCTION COSTS IN ADDITION TO THE CREDIT SPECIFIED IN PARAGRAPH TWO OF THIS SUBDIVISION. (4) NO ELIGIBLE PRODUCTION COSTS CLAIMED BY A TAXPAYER AS THE BASIS FOR THE CREDIT UNDER THIS SECTION SHALL BE USED BY SUCH TAXPAYER TO CLAIM ANY OTHER CREDIT PURSUANT TO THIS CHAPTER. (B) ALLOCATION OF CREDIT. THE AGGREGATE AMOUNT OF TAX CREDITS ALLOWED UNDER THIS SECTION, SUBDIVISION FIFTY-TWO OF SECTION TWO HUNDRED TEN-B AND SUBSECTION (FFF) OF SECTION SIX HUNDRED SIX OF THIS CHAPTER IN ANY EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2015-S7485A - Details
2015-S7485A - Sponsor Memo
BILL NUMBER: S7485A TITLE OF BILL : An act to amend the tax law and the economic development law, in relation to the creation of the empire state music production credit and the empire state digital gaming media production credit; and to repeal subdivision 11 of section 352 of the economic development law relating thereto PURPOSE : To remake the digital media gaming and music credits adopted in Part K of the Revenue bill in last year's budget, into a "below-the-line" production credit This will allow both the industries to accurately calculate the benefits of the programs, allow the State to better monitor the credits, and to ease access to the incentives. Both industries are of the opinion that the credits as currently in statute are unworkable and are actually serving as a deterrent to growth for New York companies. SUMMARY OF PROVISIONS : Section one creates a new section forty-three in the Tax Law to provide a production incentive for the creation of music products in New York.
2015-S7485A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7485--A I N S E N A T E May 4, 2016 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law and the economic development law, in relation to the creation of the empire state music production credit and the empire state digital gaming media production credit; and to repeal subdivision 11 of section 352 of the economic development law relating thereto 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 43 to read as follows: S 43. EMPIRE STATE MUSIC PRODUCTION CREDIT. (A) ALLOWANCE OF CREDIT. (1) A TAXPAYER WHICH IS A MUSIC PRODUCTION ENTITY ENGAGED IN QUALIFIED MUSIC PRODUCTION, OR WHO IS A SOLE PROPRIETOR OF OR A MEMBER OF A PART- NERSHIP, WHICH IS A MUSIC PRODUCTION ENTITY ENGAGED IN QUALIFIED MUSIC PRODUCTION, AND IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX TO BE COMPUTED AS PROVIDED HEREIN. (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 OR LIMITED LIABILITY COMPANY) OF TWENTY-FIVE PERCENT AND THE ELIGIBLE PRODUCTION COSTS OF ONE OR MORE QUALIFIED MUSIC PRODUCTIONS. (3) ELIGIBLE PRODUCTION COSTS FOR A QUALIFIED MUSIC PRODUCTION INCURRED AND PAID IN THIS STATE BUT OUTSIDE SUCH METROPOLITAN COMMUTER TRANSPORTATION DISTRICT SHALL BE ELIGIBLE FOR A CREDIT OF TEN PERCENT OF SUCH ELIGIBLE PRODUCTION COSTS IN ADDITION TO THE CREDIT SPECIFIED IN PARAGRAPH TWO OF THIS SUBDIVISION. (4) NO ELIGIBLE PRODUCTION COSTS CLAIMED BY A TAXPAYER AS THE BASIS FOR THE CREDIT UNDER THIS SECTION SHALL BE USED BY SUCH TAXPAYER TO CLAIM ANY OTHER CREDIT PURSUANT TO THIS CHAPTER. (B) ALLOCATION OF CREDIT. THE AGGREGATE AMOUNT OF TAX CREDITS ALLOWED UNDER THIS SECTION, SUBDIVISION FIFTY-TWO OF SECTION TWO HUNDRED TEN-B EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
(R, C) 53rd Senate District
2015-S7485B (ACTIVE) - Details
2015-S7485B (ACTIVE) - Sponsor Memo
BILL NUMBER: S7485B TITLE OF BILL : An act to amend the tax law and the economic development law, in relation to the creation of the empire state music production credit and the empire state digital gaming media production credit; to repeal subdivision 11 of section 352 of the economic development law relating thereto; and providing for the repeal of certain provisions upon expiration thereof PURPOSE : To remake the digital media gaming and music credits adopted in Part K of the Revenue bill in last year's budget, into a "below-the-line" production credit This will allow both the industries to accurately calculate the benefits of the programs, allow the State to better monitor the credits, and to ease access to the incentives. Both industries are of the opinion that the credits as currently in statute are unworkable and are actually serving as a deterrent to growth for New York companies. SUMMARY OF PROVISIONS : Section one creates a new section forty-three in the Tax Law to provide a production incentive for the creation of music products in
2015-S7485B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7485--B I N S E N A T E May 4, 2016 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- 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 and the economic development law, in relation to the creation of the empire state music production credit and the empire state digital gaming media production credit; to repeal subdivision 11 of section 352 of the economic development law relating thereto; and providing for the repeal of certain provisions upon expi- ration thereof 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 43 to read as follows: S 43. EMPIRE STATE MUSIC PRODUCTION CREDIT. (A) ALLOWANCE OF CREDIT. (1) A TAXPAYER WHICH IS A MUSIC PRODUCTION ENTITY ENGAGED IN QUALIFIED MUSIC PRODUCTION, OR WHO IS A SOLE PROPRIETOR OF OR A MEMBER OF A PART- NERSHIP, WHICH IS A MUSIC PRODUCTION ENTITY ENGAGED IN QUALIFIED MUSIC PRODUCTION, AND IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX TO BE COMPUTED AS PROVIDED HEREIN. (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 OR LIMITED LIABILITY COMPANY) OF TWENTY-FIVE PERCENT AND THE ELIGIBLE PRODUCTION COSTS OF ONE OR MORE QUALIFIED MUSIC PRODUCTIONS. (3) ELIGIBLE PRODUCTION COSTS FOR A QUALIFIED MUSIC PRODUCTION INCURRED AND PAID IN THIS STATE BUT OUTSIDE SUCH METROPOLITAN COMMUTER TRANSPORTATION DISTRICT SHALL BE ELIGIBLE FOR A CREDIT OF TEN PERCENT OF SUCH ELIGIBLE PRODUCTION COSTS IN ADDITION TO THE CREDIT SPECIFIED IN PARAGRAPH TWO OF THIS SUBDIVISION. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15150-07-6
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