Senate Bill S3159A

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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Sponsored By

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

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Bill Amendments

2017-S3159 - Details

See Assembly Version of this Bill:
A2670
Current Committee:
Assembly Ways And Means
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: S7485, A10083
2019-2020: S2966, A1943
2021-2022: A5267

2017-S3159 - Summary

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

2017-S3159 - Sponsor Memo

2017-S3159 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3159
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2017
                                ___________
 
 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; 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.
                                                            LBD03921-02-7

              

co-Sponsors

2017-S3159A (ACTIVE) - Details

See Assembly Version of this Bill:
A2670
Current Committee:
Assembly Ways And Means
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: S7485, A10083
2019-2020: S2966, A1943
2021-2022: A5267

2017-S3159A (ACTIVE) - Summary

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

2017-S3159A (ACTIVE) - Sponsor Memo

2017-S3159A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3159--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2017
                                ___________
 
 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; 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
 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.
                                                            LBD03921-06-7
              

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