Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 20, 2018 |
referred to ways and means delivered to assembly passed senate ordered to third reading cal.2044 committee discharged and committed to rules |
May 23, 2018 |
print number 5887a |
May 23, 2018 |
amend and recommit to investigations and government operations |
Jan 03, 2018 |
referred to investigations and government operations returned to senate died in assembly |
Jun 20, 2017 |
referred to ways and means delivered to assembly passed senate ordered to third reading cal.2052 committee discharged and committed to rules |
May 04, 2017 |
referred to investigations and government operations |
Senate Bill S5887A
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
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
Votes
Bill Amendments
co-Sponsors
(D, WF) 46th Senate District
2017-S5887 - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Add §44, amd §§210-B & 606, Tax L; amd §352, add §242, Ec Dev L
2017-S5887 - Summary
Establishes the empire state digital gaming media production credit; provides such credit shall be calculated as a percentage of eligible production costs incurred within this state; provides such credits be allocated on a regional basis; limits credits to an aggregate of twenty-five million dollars per year.
2017-S5887 - Sponsor Memo
BILL NUMBER: S5887 TITLE OF BILL : An act to amend the tax law and the economic development law, in relation to the creation of the empire state digital gaming media production credit; and providing for the repeal of certain provisions upon expiration thereof PURPOSE : To remake the digital media gaming adopted in Part K of the SF 2016 Revenue bill 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-four in the Tax Law to provide a production incentive for the creation of video gaming in New York. Subdivision (a) lays out eligibility criteria for companies that file under the corporate franchise or personal income taxes. Subdivision (b) limits the annual amount of refundable credits
2017-S5887 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5887 2017-2018 Regular Sessions I N S E N A T E May 4, 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 digital gaming media production credit; and providing for the repeal of certain provisions upon expiration 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 DIGITAL GAMING MEDIA PRODUCTION CREDIT. (A) ALLOW- ANCE OF CREDIT. (1) A TAXPAYER WHICH IS A DIGITAL GAMING MEDIA PRODUCTION ENTITY ENGAGED IN QUALIFIED DIGITAL GAMING MEDIA PRODUCTION, OR WHO IS A SOLE PROPRIETOR OF OR A MEMBER OF A PARTNERSHIP, WHICH IS A DIGITAL GAMING MEDIA PRODUCTION ENTITY ENGAGED IN QUALIFIED DIGITAL GAMING MEDIA 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 DIGITAL GAMING MEDIA PRODUCTIONS. (3) ELIGIBLE DIGITAL GAMING MEDIA PRODUCTION COSTS FOR A QUALIFIED DIGITAL GAMING MEDIA 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 SUBDIVI- SION. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11396-02-7
co-Sponsors
(D, WF) 46th Senate District
2017-S5887A (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Add §44, amd §§210-B & 606, Tax L; amd §352, add §242, Ec Dev L
2017-S5887A (ACTIVE) - Summary
Establishes the empire state digital gaming media production credit; provides such credit shall be calculated as a percentage of eligible production costs incurred within this state; provides such credits be allocated on a regional basis; limits credits to an aggregate of twenty-five million dollars per year.
2017-S5887A (ACTIVE) - Sponsor Memo
BILL NUMBER: S5887A SPONSOR: GOLDEN TITLE OF BILL: An act to amend the tax law and the economic develop- ment law, in relation to the creation of the empire state digital gaming media production credit; and providing for the repeal of certain provisions upon expiration thereof PURPOSE: To remake the digital media gaming adopted in Part K of the SF 2016 Revenue bill into a "below-the-line" production credit. This will allow both 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 deter- rent to growth for New York companies. SUMMARY OF PROVISIONS: Section one creates a new section forty-four in the Tax Law to provide a
2017-S5887A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5887--A 2017-2018 Regular Sessions I N S E N A T E May 4, 2017 ___________ Introduced by Sens. GOLDEN, BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- recommitted to the Committee on Investi- gations and Government Operations in accordance with Senate Rule 6, sec. 8 -- 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 digital gaming media production credit; and providing for the repeal of certain provisions upon expiration 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 DIGITAL GAMING MEDIA PRODUCTION CREDIT. (A) ALLOW- ANCE OF CREDIT. (1) A TAXPAYER WHICH IS A DIGITAL GAMING MEDIA PRODUCTION ENTITY ENGAGED IN QUALIFIED DIGITAL GAMING MEDIA PRODUCTION, OR WHO IS A SOLE PROPRIETOR OF OR A MEMBER OF A PARTNERSHIP, WHICH IS A DIGITAL GAMING MEDIA PRODUCTION ENTITY ENGAGED IN QUALIFIED DIGITAL GAMING MEDIA 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 DIGITAL GAMING MEDIA PRODUCTIONS. (3) ELIGIBLE DIGITAL GAMING MEDIA PRODUCTION COSTS FOR A QUALIFIED DIGITAL GAMING MEDIA 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11396-03-8
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