Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 28, 2018 |
approval memo.20 signed chap.518 |
Dec 17, 2018 |
delivered to governor |
Jun 19, 2018 |
returned to assembly passed senate 3rd reading cal.2008 substituted for s8465 |
Jun 19, 2018 |
substituted by a10768 ordered to third reading cal.2008 committee discharged and committed to rules |
May 08, 2018 |
referred to investigations and government operations |
Senate Bill S8465
Signed By Governor2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A10768 - Signed by Governor
- 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
Votes
2017-S8465 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10768
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§28, 210-B & 606, Tax L
2017-S8465 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8465 SPONSOR: GOLDEN TITLE OF BILL: An act to amend the tax law, in relation to extending the empire state commercial production tax credit PURPOSE: This bill would extend the Empire State Commercial Production tax cred- it, as enumerated in section 28 of the Tax Law, until the end of calen- dar year 2023. The credit is scheduled to sunset for taxable years beginning before the end of 2018. SUMMARY OF PROVISIONS: Section one of the bill extends the sunset for the qualified commercial production companies, currently scheduled in section 28 of the Tax Law for taxable years beginning before the January 1, 2019, until taxable years beginning on or after January 1, 2024. Section 2 and 3 make corresponding extensions to the provisions Covering
2017-S8465 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8465 I N S E N A T E May 8, 2018 ___________ 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, in relation to extending the empire state commercial production tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 1 of subdivision (a) of section 28 of the tax law, as amended by section 1 of part J of chapter 60 of the laws of 2016, 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 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 [nineteen] TWENTY-FOUR. § 2. Paragraph (c) of subdivision 23 of section 210-B of the tax law, as amended by section 2 of part J of chapter 60 of the laws of 2016, is amended to read as follows: (c) Expiration of credit. The credit allowed under this subdivision shall not be applicable to taxable years beginning on or after January first, two thousand [nineteen] TWENTY-FOUR. § 3. Paragraph 1 of subsection (jj) of section 606 of the tax law, as amended by section 3 of part J of chapter 60 of the laws of 2016, is amended to read as follows: (1) Allowance of credit. A taxpayer that is eligible pursuant to the provisions of section twenty-eight of this chapter shall be allowed a credit to be computed as provided in such section against the tax EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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