assembly Bill A2670B

2017-2018 Legislative Session

Establishes the empire state music production credit and the empire state digital gaming media production credit; repealer

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Archive: Last Bill Status - In Assembly Committee


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

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Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to ways and means
Jun 12, 2017 print number 2670b
Jun 12, 2017 amend (t) and recommit to ways and means
Feb 01, 2017 print number 2670a
Feb 01, 2017 amend and recommit to ways and means
Jan 20, 2017 referred to ways and means

Co-Sponsors

view additional co-sponsors

A2670 - Details

See Senate Version of this Bill:
S3159
Law Section:
Tax Law
Laws Affected:
Add §§44 & 45, amd §§210-B & 606, Tax L; rpld §352 sub 13, amd §§353 & 352, add §243, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10083, S7485
2019-2020: A1943, S2966

A2670 - Summary

Establishes the empire state music production credit and the empire state digital gaming media production credit; defines terms.

A2670 - Bill Text download pdf


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

                                  2670

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2017
                               ___________

Introduced by M. of A. LENTOL -- read once and referred to the Committee
  on Ways and Means

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:
  §  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)  ELIGIBLE  PRODUCTION  COSTS SHALL NOT INCLUDE THOSE COSTS USED BY
THE TAXPAYER OR ANOTHER TAXPAYER AS THE BASIS CALCULATION OF  ANY  OTHER
TAX CREDIT ALLOWED UNDER THIS CHAPTER OR ALLOWED IN ANY OTHER STATE.

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

Co-Sponsors

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Multi-Sponsors

A2670A - Details

See Senate Version of this Bill:
S3159
Law Section:
Tax Law
Laws Affected:
Add §§44 & 45, amd §§210-B & 606, Tax L; rpld §352 sub 13, amd §§353 & 352, add §243, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10083, S7485
2019-2020: A1943, S2966

A2670A - Summary

Establishes the empire state music production credit and the empire state digital gaming media production credit; defines terms.

A2670A - Bill Text download pdf


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

                                 2670--A

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2017
                               ___________

Introduced  by  M. of A. LENTOL, TITONE, COLTON, BRINDISI, NIOU, HARRIS,
  McDONALD, CARROLL, COOK -- 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  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:
  § 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.
                                                           LBD03921-03-7

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

A2670B (ACTIVE) - Details

See Senate Version of this Bill:
S3159
Law Section:
Tax Law
Laws Affected:
Add §§44 & 45, amd §§210-B & 606, Tax L; rpld §352 sub 13, amd §§353 & 352, add §243, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10083, S7485
2019-2020: A1943, S2966

A2670B (ACTIVE) - Summary

Establishes the empire state music production credit and the empire state digital gaming media production credit; defines terms.

A2670B (ACTIVE) - Bill Text download pdf


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

                                 2670--B

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2017
                               ___________

Introduced  by  M. of A. LENTOL, TITONE, COLTON, BRINDISI, NIOU, HARRIS,
  McDONALD,  CARROLL,  COOK,  JENNE,  PEOPLES-STOKES,  HEVESI,   JAFFEE,
  D'URSO,  ABBATE, BLAKE, CRESPO, MORELLE -- Multi-Sponsored by -- M. of
  A. HYNDMAN -- read once and referred to  the  Committee  on  Ways  and
  Means  --  committee  discharged,  bill  amended, ordered reprinted as
  amended and recommitted to said committee -- again reported from  said
  committee  with amendments, ordered reprinted as amended and recommit-
  ted 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 13 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 44 to read
as follows:
  § 44. 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

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

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