senate Bill S1277

2019-2020 Legislative Session

Extends the empire state commercial production tax credit

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate


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

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 15, 2019 referred to ways and means
delivered to assembly
passed senate
Jan 14, 2019 ordered to third reading cal.20
Jan 11, 2019 referred to rules

S1277 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §§28, 210-B & 606, Tax L

S1277 (ACTIVE) - Summary

Extends the empire state commercial production tax credit until January 1, 2020.

S1277 (ACTIVE) - Sponsor Memo

S1277 (ACTIVE) - Bill Text download pdf


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

                                  1277

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 11, 2019
                               ___________

Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

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 a chapter of the laws of 2018, amending the  tax  law
relating to extending the empire state commercial production tax credit,
as  proposed  in  legislative  bills  numbers  A.  10768 and S. 8465, 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 [twenty-four] TWENTY.
  § 2. Paragraph (c) of subdivision 23 of section 210-B of the tax  law,
as amended by a chapter of the laws of 2018, amending the tax law relat-
ing  to  extending the empire state commercial production tax credit, as
proposed in legislative bills numbers A. 10768 and S. 8465,  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 [twenty-four] TWENTY.

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

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