assembly Bill A8758

2019-2020 Legislative Session

Creates the empire state digital gaming media production credit

download bill text pdf

Sponsored By

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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to ways and means
Nov 25, 2019 referred to ways and means

Co-Sponsors

A8758 (ACTIVE) - Details

See Senate Version of this Bill:
S6882
Law Section:
Tax Law
Laws Affected:
Add §45, amd §§210-B & 606, Tax L; add §242, Ec Dev L
Versions Introduced in 2021-2022 Legislative Session:
A9194, S4107

A8758 (ACTIVE) - Summary

Creates the empire state digital gaming media production credit for 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 in qualified digital gaming media production; requires the empire state development corporation to file a biannual report with the director of the division of the budget and the chairpersons of the assembly ways and means committee and the senate finance committee; makes related provisions.

A8758 (ACTIVE) - Bill Text download pdf


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

                                  8758

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                            November 25, 2019
                               ___________

Introduced by M. of A. McDONALD, FAHY, WOERNER -- 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  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 45 to read
as follows:
  § 45. 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.
  (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.