Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to ways and means |
Feb 25, 2015 |
print number 1465a |
Feb 25, 2015 |
amend and recommit to ways and means |
Jan 12, 2015 |
referred to ways and means |
Assembly Bill A1465A
2015-2016 Legislative Session
Sponsored By
LENTOL
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
Matthew Titone
Peter Abbate
Fred Thiele
Ellen C. Jaffee
multi-Sponsors
N. Nick Perry
2015-A1465 - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Add §42, amd §§210-B & 606, Tax L
- Versions Introduced in 2013-2014 Legislative Session:
-
A8702
2015-A1465 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1465 2015-2016 Regular Sessions I N A S S E M B L Y January 12, 2015 ___________ Introduced by M. of A. LENTOL -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to the creation of the empire state music production credit 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 42 to read as follows: S 42. EMPIRE STATE MUSIC PRODUCTION CREDIT. (A)(1) ALLOWANCE OF CRED- IT. A TAXPAYER WHICH IS A QUALIFIED MUSIC PRODUCTION COMPANY, OR A QUAL- IFIED INDEPENDENT MUSIC PRODUCTION COMPANY, OR WHICH IS A SOLE PROPRIE- TOR OF OR A MEMBER OF A PARTNERSHIP WHICH IS A QUALIFIED MUSIC PRODUCTION COMPANY OR A QUALIFIED INDEPENDENT MUSIC 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. (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) OF TWENTY PERCENT AND THE QUALIFIED PRODUCTION COSTS PAID OR INCURRED IN THE PRODUCTION OF MUSIC BY THE TAXPAYER. SUCH COSTS SHALL INCLUDE: RECORDING PRODUCTION COSTS, ARTISTS' ROYALTIES, MUSICIAN SESSION FEES, GRAPHICS, DIGITAL SCANNING, PROGRAMMING AND TESTING, PRODUCTION COSTS FOR MUSIC VIDEOS MADE IN NEW YORK STATE AND DIRECT MARKETING EXPENDITURES INCLUD- ING CONSULTANT FEES AND COSTS TO LAUNCH THE RECORDING. COSTS SHALL NOT INCLUDE TOURING, PERFORMING, MANUFACTURING AND DISTRIBUTION COSTS. (3) NO QUALIFIED PRODUCTION COSTS USED BY A TAXPAYER AS THE BASIS FOR THE ALLOWANCE OF THE CREDIT PROVIDED FOR UNDER THIS SECTION SHALL BE USED BY SUCH TAXPAYER TO CLAIM ANY OTHER CREDIT ALLOWED PURSUANT TO THIS CHAPTER. (B) ALLOCATION OF CREDIT. THE AGGREGATE AMOUNT OF TAX CREDITS ALLOWED UNDER THIS SECTION, SUBDIVISION FIFTY OF SECTION TWO HUNDRED TEN-B AND SUBSECTION (CCC) 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. LBD01211-01-5
co-Sponsors
Matthew Titone
Peter Abbate
Fred Thiele
Ellen C. Jaffee
multi-Sponsors
Kevin Cahill
William Colton
Margaret Markey
Daniel O'Donnell
2015-A1465A (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Add §42, amd §§210-B & 606, Tax L
- Versions Introduced in 2013-2014 Legislative Session:
-
A8702
2015-A1465A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1465--A 2015-2016 Regular Sessions I N A S S E M B L Y January 12, 2015 ___________ Introduced by M. of A. LENTOL, TITONE, ABBATE, THIELE, JAFFEE, COOK -- Multi-Sponsored by -- M. of A. PERRY -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to the creation of the empire state music production credit 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 42 to read as follows: S 42. EMPIRE STATE MUSIC PRODUCTION CREDIT. (A)(1) ALLOWANCE OF CRED- IT. A TAXPAYER WHICH IS A QUALIFIED MUSIC PRODUCTION COMPANY, OR A QUAL- IFIED INDEPENDENT MUSIC PRODUCTION COMPANY, OR WHICH IS A SOLE PROPRIE- TOR OF OR A MEMBER OF A PARTNERSHIP WHICH IS A QUALIFIED MUSIC PRODUCTION COMPANY OR A QUALIFIED INDEPENDENT MUSIC 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. (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) OF TWENTY-FIVE PERCENT AND THE QUALIFIED PRODUCTION COSTS PAID IN THE PRODUCTION OF MUSIC BY THE TAXPAYER. QUALIFYING MUSIC PRODUCTIONS SHALL BE COMMER- CIALLY LICENSED SOUND RECORDING PROJECTS HAVING AS THEIR PRINCIPAL PLACE OF PRODUCTION AND RECORDING THIS STATE AND REQUIRING EXPENDITURES IN EXCESS OF TWENTY-FIVE THOUSAND DOLLARS. IF THE ANNUAL COST OF SUCH PRODUCTIONS TO A TAXPAYER EXCEEDS ONE HUNDRED THOUSAND DOLLARS, BUT NO SINGLE SUCH PRODUCTION EXCEEDS ONE HUNDRED THOUSAND DOLLARS, SUCH TAXPAYER MAY APPLY FOR THE CREDIT ALLOWED BY THIS SECTION ON AN AGGRE- GATE BASIS PROVIDED SUCH TAXPAYER EMPLOYES TEN OR MORE RESIDENTS OF THIS STATE. QUALIFIED PRODUCTION COSTS SHALL MEAN COSTS FOR TANGIBLE PROPERTY USED AND SERVICES PERFORMED DIRECTLY AND PREDOMINANTLY IN THE PRODUCTION OF QUALIFIED MUSIC PRODUCTION IN THIS STATE. QUALIFYING MUSIC EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01211-03-5
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