Senate Bill S5033

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5033
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               April 3, 2019
                                ___________
 
 Introduced  by  Sen.  THOMAS -- 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, in relation to providing an additional  ten
   percent credit on qualified labor expenses under the empire state film
   production  credit  and  empire  state  film post production credit in
   Nassau and Suffolk counties
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  5  of subdivision (a) of section 24 of the tax
 law, as amended by section 1 of part M of chapter  59  of  the  laws  of
 2017, is amended to read as follows:
   (5)  For  the period two thousand fifteen through two thousand twenty-
 two, in addition to the amount of credit established in paragraph two of
 this subdivision, a taxpayer shall be allowed  a  credit  equal  to  the
 product  (or pro rata share of the product, in the case of a member of a
 partnership) of ten percent and the amount of wages or salaries paid  to
 individuals  directly  employed  (excluding  those  employed as writers,
 directors, music directors, producers and  performers,  including  back-
 ground  actors  with  no  scripted lines) by a qualified film production
 company or a qualified independent film production company for  services
 performed  by those individuals in one of the counties specified in this
 paragraph in connection with a qualified film with a minimum  budget  of
 five  hundred  thousand dollars. For purposes of this additional credit,
 the services must be performed in one or more of the following counties:
 Albany, Allegany,  Broome,  Cattaraugus,  Cayuga,  Chautauqua,  Chemung,
 Chenango,  Clinton, Columbia, Cortland, Delaware, Dutchess, Erie, Essex,
 Franklin, Fulton, Genesee, Greene, Hamilton, Herkimer, Jefferson, Lewis,
 Livingston, Madison, Monroe, Montgomery, NASSAU, Niagara, Oneida,  Onon-
 daga,  Ontario,  Orange,  Orleans,  Oswego,  Otsego, Putnam, Rensselaer,
 Saratoga, Schenectady, Schoharie, Schuyler, Seneca, St. Lawrence,  Steu-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD10863-01-9

 S. 5033                             2
 
 ben,  SUFFOLK,  Sullivan,  Tioga,  Tompkins, Ulster, Warren, Washington,
 Wayne, Wyoming, or Yates. The aggregate amount of  tax  credits  allowed
 pursuant  to  the  authority  of  this  paragraph  shall be five million
 dollars  each  year  during  the period two thousand fifteen through two
 thousand twenty-two of the  annual  allocation  made  available  to  the
 program  pursuant  to paragraph four of subdivision (e) of this section.
 Such aggregate amount of credits shall be allocated  by  the  governor's
 office  for motion picture and television development among taxpayers in
 order of priority based upon the date of filing an application for allo-
 cation of film production credit with such office. If the  total  amount
 of  allocated  credits  applied  for  under  this  paragraph in any year
 exceeds the aggregate amount of tax credits allowed for such year  under
 this  paragraph, such excess shall be treated as having been applied for
 on the first day of the next year. If the total amount of allocated  tax
 credits  applied  for under this paragraph at the conclusion of any year
 is less than five million dollars, the remainder  shall  be  treated  as
 part  of the annual allocation made available to the program pursuant to
 paragraph four of subdivision (e) of this section. However, in no  event
 may  the  total  of  the  credits allocated under this paragraph and the
 credits allocated under paragraph five of  subdivision  (a)  of  section
 thirty-one  of  this  article  exceed  five  million dollars in any year
 during the period two thousand fifteen through two thousand twenty-two.
   § 2. Paragraph 6 of subdivision (a) of section 31 of the tax  law,  as
 amended  by  section  3  of part M of chapter 59 of the laws of 2017, is
 amended to read as follows:
   (6) For the period two thousand fifteen through two  thousand  twenty-
 two, in addition to the amount of credit established in paragraph two of
 THIS  subdivision  [(a)  of this section], a taxpayer shall be allowed a
 credit equal to the product (or pro rata share of the  product,  in  the
 case  of  a  member  of  a partnership) of ten percent and the amount of
 wages or salaries paid to individuals directly employed (excluding those
 employed as writers, directors, music directors, producers and  perform-
 ers,  including  background  actors with no scripted lines) for services
 performed by those individuals in one of the counties specified in  this
 paragraph  in  connection  with  the post production work on a qualified
 film with a minimum budget of five hundred thousand dollars at a  quali-
 fied  post  production  facility  in  one of the counties listed in this
 paragraph. For purposes of this additional credit, the services must  be
 performed  in  one  or more of the following counties: Albany, Allegany,
 Broome, Cattaraugus, Cayuga,  Chautauqua,  Chemung,  Chenango,  Clinton,
 Cortland,  Delaware,  Erie,  Essex, Franklin, Fulton, Genesee, Hamilton,
 Herkimer, Jefferson, Lewis,  Livingston,  Madison,  Monroe,  Montgomery,
 NASSAU,  Niagara,  Oneida,  Onondaga,  Ontario, Orleans, Oswego, Otsego,
 Schenectady,  Schoharie,  Schuyler,  Seneca,  St.   Lawrence,   Steuben,
 SUFFOLK, Tioga, Tompkins, Wayne, Wyoming, or Yates. The aggregate amount
 of tax credits allowed pursuant to the authority of this paragraph shall
 be five million dollars each year during the period two thousand fifteen
 through  two thousand twenty-two of the annual allocation made available
 to the empire state film post production credit  pursuant  to  paragraph
 four  of  subdivision  (e)  of section twenty-four of this article. Such
 aggregate amount of credits shall be allocated by the governor's  office
 for  motion  picture and television development among taxpayers in order
 of priority based upon the date of filing an application for  allocation
 of post production credit with such office. If the total amount of allo-
 cated  credits  applied for under this paragraph in any year exceeds the
 aggregate amount of tax credits allowed for such year under  this  para-

 S. 5033                             3
 
 graph,  such  excess  shall be treated as having been applied for on the
 first day of the next year. If the total amount of allocated tax credits
 applied for under this paragraph at the conclusion of any year  is  less
 than five million dollars, the remainder shall be treated as part of the
 annual  allocation  for  two  thousand  seventeen  made available to the
 empire state film post production credit pursuant to paragraph  four  of
 subdivision  (e)  of section twenty-four of this article. However, in no
 event may the total of the credits allocated under  this  paragraph  and
 the credits allocated under paragraph five of subdivision (a) of section
 twenty-four  of  this  article  exceed  five million dollars in any year
 during the period two thousand fifteen through two thousand twenty-two.
   § 3. This act shall take effect immediately.