S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5864--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               May 15, 2019
                                ___________
 
 Introduced by Sens. JACKSON, RAMOS, BAILEY, BENJAMIN, BIAGGI, GOUNARDES,
   KAPLAN,  KENNEDY,  MAY, MYRIE, PERSAUD, SALAZAR, SANDERS, SEPULVEDA --
   read twice and ordered printed, and when printed to  be  committed  to
   the Committee on Investigations and Government Operations -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN  ACT  to  amend the tax law, in relation to a television writers' and
   directors' fees and salaries credit
 
   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 24-b to read
 as follows:
   §  24-B.  TELEVISION WRITERS' AND DIRECTORS' FEES AND SALARIES CREDIT.
 (A)(1) A TAXPAYER WHICH IS A QUALIFIED FILM  PRODUCTION  COMPANY,  OR  A
 QUALIFIED  INDEPENDENT  FILM  PRODUCTION  COMPANY,  OR  WHICH  IS A SOLE
 PROPRIETOR OF OR A MEMBER OF A PARTNERSHIP WHICH  IS  A  QUALIFIED  FILM
 PRODUCTION  COMPANY  OR A QUALIFIED INDEPENDENT FILM PRODUCTION COMPANY,
 AND WHICH IS SUBJECT TO TAX UNDER ARTICLES 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 HEREINAFTER PROVIDED.
   (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) OF THIRTY
 PERCENT AND THE QUALIFIED TELEVISION WRITERS' AND  DIRECTORS'  FEES  AND
 SALARIES  COSTS  PAID OR INCURRED IN THE PRODUCTION OF A QUALIFIED FILM,
 PROVIDED THAT: (I) THE CREDIT AMOUNT SHALL  NOT  EXCEED  FIFTY  THOUSAND
 DOLLARS  FOR QUALIFIED TELEVISION WRITERS' AND DIRECTORS' FEES AND SALA-
 RIES CLAIMED FOR SUCH EXPENSES INCURRED FOR THE EMPLOYMENT  OF  ANY  ONE
 SPECIFIC  WRITER  OR  DIRECTOR FOR THE PRODUCTION OF A SINGLE TELEVISION
 PILOT OR A SINGLE EPISODE OF A TELEVISION SERIES, AND  (II)  THE  CREDIT
 AMOUNT SHALL NOT EXCEED ONE HUNDRED FIFTY THOUSAND DOLLARS FOR QUALIFIED
 TELEVISION  WRITERS'  AND  DIRECTORS' FEES AND SALARIES CLAIMED FOR SUCH
 EXPENSES INCURRED FOR THE EMPLOYMENT  OF  ANY  ONE  SPECIFIC  WRITER  OR
 
              

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10593-04-9

 S. 5864--A                          2
 
 DIRECTOR.  THE CREDIT SHALL BE ALLOWED FOR THE TAXABLE YEAR IN WHICH THE
 PRODUCTION OF SUCH QUALIFIED FILM IS COMPLETED.
   (3)  NO QUALIFIED TELEVISION WRITERS' AND DIRECTORS' FEES AND SALARIES
 USED BY A TAXPAYER EITHER AS THE BASIS FOR THE ALLOWANCE OF  THE  CREDIT
 PROVIDED  FOR PURSUANT TO THIS SECTION OR USED IN THE CALCULATION OF THE
 CREDIT PROVIDED PURSUANT TO THIS SECTION SHALL BE USED BY SUCH  TAXPAYER
 TO CLAIM ANY OTHER CREDIT ALLOWED PURSUANT TO THIS CHAPTER.
   (B)  DEFINITIONS.  AS  USED IN THIS SECTION, THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "QUALIFIED FILM PRODUCTION COMPANY" IS A CORPORATION, PARTNERSHIP,
 LIMITED PARTNERSHIP, OR OTHER ENTITY OR INDIVIDUAL WHICH OR WHO IS PRIN-
 CIPALLY ENGAGED IN THE PRODUCTION OF A QUALIFIED FILM AND  CONTROLS  THE
 QUALIFIED FILM DURING PRODUCTION.
   (2)  "QUALIFIED INDEPENDENT FILM PRODUCTION COMPANY" IS A CORPORATION,
 PARTNERSHIP, LIMITED PARTNERSHIP, OR OTHER ENTITY OR INDIVIDUAL, THAT OR
 WHO (I) IS PRINCIPALLY ENGAGED IN THE PRODUCTION  OF  A  QUALIFIED  FILM
 WITH  A  MAXIMUM  BUDGET  OF  FIFTEEN MILLION DOLLARS, (II) CONTROLS THE
 QUALIFIED FILM DURING PRODUCTION, AND (III) EITHER  IS  NOT  A  PUBLICLY
 TRADED  ENTITY, OR NO MORE THAN FIVE PERCENT OF THE BENEFICIAL OWNERSHIP
 OF WHICH IS OWNED, DIRECTLY OR INDIRECTLY, BY A PUBLICLY TRADED ENTITY.
   (3) "QUALIFIED FILM" MEANS A TELEVISION FILM, TELEVISION PILOT  AND/OR
 EACH  EPISODE  OF A TELEVISION SERIES, REGARDLESS OF THE MEDIUM BY MEANS
 OF WHICH THE FILM, PILOT OR EPISODE IS CREATED OR CONVEYED.
   (4) "QUALIFIED TELEVISION WRITERS' AND DIRECTORS' FEES  AND  SALARIES"
 MEANS: (I) SALARIES OR FEES PAID TO A WRITER OR DIRECTOR WHO RECEIVES AN
 ON-AIR  CREDIT; (II) FOR A NON-CREDITED WRITER, UP TO SEVENTY-FIVE THOU-
 SAND DOLLARS IN SALARIES OR FEES PER SERIES OF EPISODES.  PROVIDED  THAT
 IN  EACH  CASE,  SUCH  WRITER OR DIRECTOR IS A MINORITY GROUP MEMBER, AS
 DEFINED IN SUBDIVISION EIGHT OF SECTION THREE HUNDRED TEN OF THE  EXECU-
 TIVE  LAW, OR A WOMAN, AND PROVIDED, FURTHER, THAT SALARIES OR FEES PAID
 TO ANY WRITER OR DIRECTOR WHO IS A PROFIT PARTICIPANT IN  THE  QUALIFIED
 FILM SHALL NOT BE ELIGIBLE.
   (5)  "WRITER"  MEANS  A PERSON WHO IS: (I) ENGAGED BY A QUALIFIED FILM
 PRODUCTION COMPANY OR A QUALIFIED INDEPENDENT FILM PRODUCTION COMPANY TO
 WRITE LITERARY MATERIAL (INCLUDING MAKING CHANGES OR REVISIONS IN LITER-
 ARY MATERIAL), WHEN THE COMPANY HAS THE RIGHT BY CONTRACT TO DIRECT  THE
 PERFORMANCE  OF  PERSONAL SERVICES IN WRITING OR PREPARING SUCH MATERIAL
 OR IN MAKING  REVISIONS,  MODIFICATIONS  OR  CHANGES  THEREIN;  OR  (II)
 ENGAGED  BY  THE  COMPANY  AND  WHO  PERFORMS SERVICES (AT THE COMPANY'S
 DIRECTION OR WITH ITS CONSENT) IN WRITING  OR  PREPARING  SUCH  LITERARY
 MATERIAL  OR MAKING REVISIONS, MODIFICATIONS, OR CHANGES IN SUCH MATERI-
 AL; AND (III) WHO REPORTS TO WORK REGULARLY IN A WRITERS ROOM LOCATED IN
 THE STATE.
   (6) "LITERARY MATERIAL" SHALL BE DEEMED TO  INCLUDE  STORIES,  ADAPTA-
 TIONS,  TREATMENTS,  ORIGINAL TREATMENTS, SCENARIOS, CONTINUITIES, TELE-
 PLAYS, SCREENPLAYS, DIALOGUE, SCRIPTS, SKETCHES, PLOTS, OUTLINES, NARRA-
 TIVE SYNOPSES, ROUTINES, NARRATIONS, AND FORMATS.
   (7) "WRITERS ROOM" MEANS A ROOM OR  PHYSICAL  LOCATION  WHERE  WRITERS
 EMPLOYED BY A QUALIFIED FILM PRODUCTION COMPANY OR QUALIFIED INDEPENDENT
 FILM PRODUCTION COMPANY WRITE OR REVISE LITERARY MATERIALS UTILIZED IN A
 QUALIFIED FILM.
   (8)  "DIRECTOR" MEANS AN INDIVIDUAL EMPLOYED OR RETAINED TO DIRECT THE
 PRODUCTION, AS THE WORD "DIRECT" IS COMMONLY USED IN THE MOTION  PICTURE
 INDUSTRY,  AND  WHO  WOULD  BE  CLASSIFIED AS A DIRECTOR UNDER THE BASIC
 AGREEMENT IN PLACE BETWEEN THE ASSOCIATION OF MOTION PICTURE  AND  TELE-

 S. 5864--A                          3
 
 VISION  PRODUCERS AND THE DIRECTOR'S GUILD OF AMERICA AND WHO IS A RESI-
 DENT OF NEW YORK.
   (9)  "PROFIT  PARTICIPANT"  IS  AN INDIVIDUAL WHO HAS NEGOTIATED FOR A
 PERCENTAGE OF PROFITS GENERATED BY  A  QUALIFIED  FILM.  PROFIT  PARTIC-
 IPATION  DOES  NOT INCLUDE MONIES CONTRACTUALLY REQUIRED BY COLLECTIVELY
 BARGAINED AGREEMENTS FOR REUSE OF A QUALIFIED FILM  ON  DIFFERENT  PLAT-
 FORMS OVER TIME.
   (C)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B: SUBDIVISION 54.
   (2) ARTICLE 22: SECTION 606: SUBSECTION (V).
   (D) NOTWITHSTANDING ANY PROVISION OF THIS CHAPTER, (1)  EMPLOYEES  AND
 OFFICERS  OF  THE  DEPARTMENT OF ECONOMIC DEVELOPMENT AND THE DEPARTMENT
 SHALL BE ALLOWED AND ARE DIRECTED  TO  SHARE  AND  EXCHANGE  INFORMATION
 REGARDING  THE CREDITS APPLIED FOR, ALLOWED, OR CLAIMED PURSUANT TO THIS
 SECTION AND TAXPAYERS WHO ARE APPLYING FOR CREDITS OR WHO  ARE  CLAIMING
 CREDITS, INCLUDING INFORMATION CONTAINED IN OR DERIVED FROM CREDIT CLAIM
 FORMS  SUBMITTED  TO  THE  DEPARTMENT AND APPLICATIONS FOR CERTIFICATION
 SUBMITTED TO THE DEPARTMENT OF ECONOMIC DEVELOPMENT, AND (2) THE COMMIS-
 SIONER AND THE COMMISSIONER OF THE DEPARTMENT  OF  ECONOMIC  DEVELOPMENT
 MAY RELEASE THE NAMES AND ADDRESSES OF ANY TAXPAYER CLAIMING THIS CREDIT
 AND  THE AMOUNT OF THE CREDIT EARNED BY THE TAXPAYER. PROVIDED, HOWEVER,
 IF A TAXPAYER CLAIMS THIS CREDIT BECAUSE IT IS A  MEMBER  OF  A  LIMITED
 LIABILITY  COMPANY  OR  A  PARTNER  IN A PARTNERSHIP, ONLY THE AMOUNT OF
 CREDIT EARNED BY THE ENTITY AND NOT THE AMOUNT OF CREDIT CLAIMED BY  THE
 TAXPAYER MAY BE RELEASED.
   (E) MAXIMUM AMOUNT OF CREDITS. (1) THE AGGREGATE AMOUNT OF TAX CREDITS
 ALLOWED  UNDER  THIS  SECTION,  SUBDIVISION  FIFTY-FOUR  OF  SECTION TWO
 HUNDRED TEN-B AND SUBSECTION (V) OF SECTION  SIX  HUNDRED  SIX  OF  THIS
 CHAPTER  IN ANY CALENDAR YEAR SHALL BE FIVE MILLION DOLLARS. SUCH AGGRE-
 GATE AMOUNT OF CREDITS SHALL BE ALLOCATED BY THE DEPARTMENT OF  ECONOMIC
 DEVELOPMENT  AMONG TAXPAYERS IN ORDER OF PRIORITY BASED UPON THE DATE OF
 FILING AN APPLICATION FOR ALLOCATION OF TELEVISION WRITERS'  AND  DIREC-
 TORS' FEES AND SALARIES CREDIT WITH SUCH DEPARTMENT. IF THE TOTAL AMOUNT
 OF  ALLOCATED  CREDITS  APPLIED  FOR  IN ANY PARTICULAR YEAR EXCEEDS THE
 AGGREGATE AMOUNT OF  TAX  CREDITS  ALLOWED  FOR  SUCH  YEAR  UNDER  THIS
 SECTION,  SUCH EXCESS SHALL BE TREATED AS HAVING BEEN APPLIED FOR ON THE
 FIRST DAY OF THE SUBSEQUENT YEAR.
   (2) THE COMMISSIONER OF ECONOMIC DEVELOPMENT,  AFTER  CONSULTING  WITH
 THE  COMMISSIONER, SHALL PROMULGATE REGULATIONS BY OCTOBER THIRTY-FIRST,
 TWO THOUSAND NINETEEN TO ESTABLISH PROCEDURES FOR THE ALLOCATION OF  TAX
 CREDITS  AS  REQUIRED BY SUBDIVISION (A) OF THIS SECTION. SUCH RULES AND
 REGULATIONS SHALL INCLUDE PROVISIONS DESCRIBING THE APPLICATION PROCESS,
 THE DUE DATES FOR SUCH APPLICATIONS, THE STANDARDS WHICH SHALL  BE  USED
 TO EVALUATE THE APPLICATIONS, THE DOCUMENTATION THAT WILL BE PROVIDED TO
 TAXPAYERS  TO  SUBSTANTIATE  TO THE DEPARTMENT THE AMOUNT OF TAX CREDITS
 ALLOCATED TO SUCH TAXPAYERS, AND SUCH OTHER PROVISIONS AS DEEMED  NECES-
 SARY  AND  APPROPRIATE.  NOTWITHSTANDING  ANY  OTHER  PROVISIONS  TO THE
 CONTRARY IN THE STATE ADMINISTRATIVE PROCEDURE ACT, SUCH RULES AND REGU-
 LATIONS MAY BE ADOPTED ON AN EMERGENCY BASIS IF NECESSARY TO  MEET  SUCH
 OCTOBER THIRTY-FIRST, TWO THOUSAND NINETEEN DEADLINE.
   (F)  THE DEPARTMENT OF ECONOMIC DEVELOPMENT SHALL SUBMIT TO THE GOVER-
 NOR, THE TEMPORARY PRESIDENT OF THE  SENATE,  AND  THE  SPEAKER  OF  THE
 ASSEMBLY,  AN  ANNUAL  REPORT  TO BE SUBMITTED ON FEBRUARY FIRST OF EACH
 YEAR EVALUATING THE EFFECTIVENESS OF THE TELEVISION WRITERS' AND  DIREC-
 TORS' FEES AND SALARIES TAX CREDIT PROVIDED BY THIS SECTION IN STIMULAT-

 S. 5864--A                          4
 
 ING  THE  GROWTH  OF  DIVERSITY  IN THE FILM INDUSTRY IN THE STATE. SUCH
 REPORT SHALL INCLUDE, BUT NEED NOT BE LIMITED TO, THE NUMBER  OF  QUALI-
 FIED   FILM  PRODUCTION  COMPANIES  AND/OR  QUALIFIED  INDEPENDENT  FILM
 PRODUCTION COMPANIES WHICH RECEIVED A TELEVISION WRITERS' AND DIRECTORS'
 FEES  AND  SALARIES CREDIT, THE CREDIT AMOUNTS CLAIMED BY EACH QUALIFIED
 FILM PRODUCTION COMPANY AND/OR  QUALIFIED  INDEPENDENT  FILM  PRODUCTION
 COMPANY,  AS  WELL  AS  THE  IMPACT ON EMPLOYMENT AND THE ECONOMY OF THE
 STATE. SUCH REPORT SHALL BE BASED ON DATA AVAILABLE FROM THE APPLICATION
 FILED WITH THE DEPARTMENT OF  ECONOMIC  DEVELOPMENT  FOR  ALLOCATION  OF
 TELEVISION  WRITERS' AND DIRECTORS' FEES AND SALARIES CREDITS.  NOTWITH-
 STANDING ANY PROVISION OF LAW TO THE CONTRARY, THE INFORMATION CONTAINED
 IN THE REPORT SHALL BE PUBLIC INFORMATION. THE REPORT MAY  ALSO  INCLUDE
 ANY  RECOMMENDATIONS  OF CHANGES IN THE CALCULATION OR ADMINISTRATION OF
 THE CREDIT, AND ANY OTHER RECOMMENDATION  OF  THE  COMMISSIONER  OF  THE
 DEPARTMENT  OF  ECONOMIC  DEVELOPMENT REGARDING CONTINUING MODIFICATION,
 REPEAL OF SUCH ACT, AND SUCH OTHER INFORMATION REGARDING THE ACT AS  THE
 COMMISSIONER  OF  THE DEPARTMENT OF ECONOMIC DEVELOPMENT MAY FEEL USEFUL
 AND APPROPRIATE.
   § 2. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 54 to read as follows:
   54.  TELEVISION WRITERS' AND DIRECTORS' FEES AND SALARIES CREDIT.  (A)
 ALLOWANCE OF CREDIT. A TAXPAYER WHO  IS  ELIGIBLE  PURSUANT  TO  SECTION
 TWENTY-FOUR-B  OF  THIS CHAPTER SHALL BE ALLOWED A CREDIT TO BE COMPUTED
 AS PROVIDED IN SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
 FOR  ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
 THAN THE AMOUNT PRESCRIBED  IN  PARAGRAPH  (D)  OF  SUBDIVISION  ONE  OF
 SECTION  TWO HUNDRED TEN OF THIS ARTICLE. PROVIDED, HOWEVER, THAT IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBDIVISION  FOR  ANY  TAXABLE
 YEAR  REDUCES  THE  TAX TO SUCH AMOUNT OR IF THE TAXPAYER OTHERWISE PAYS
 TAX BASED ON THE FIXED DOLLAR MINIMUM AMOUNT, THE EXCESS SHALL BE TREAT-
 ED AS AN OVERPAYMENT OF TAX TO BE CREDITED  OR  REFUNDED  IN  ACCORDANCE
 WITH  THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER.
 PROVIDED, FURTHER, THE PROVISIONS OF SUBSECTION (C) OF SECTION ONE THOU-
 SAND EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL  BE
 PAID THEREON.
   §  3. Section 606 of the tax law is amended by adding a new subsection
 (v) to read as follows:
   (V) TELEVISION WRITERS' AND DIRECTORS' FEES AND SALARIES CREDIT.   (1)
 ALLOWANCE  OF  CREDIT.  A  TAXPAYER  WHO IS ELIGIBLE PURSUANT TO SECTION
 TWENTY-FOUR-B OF THIS CHAPTER SHALL BE ALLOWED A CREDIT TO  BE  COMPUTED
 AS PROVIDED IN SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED  OR  REFUNDED  AS  PROVIDED IN SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   § 4. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of  the  tax  law  is  amended  by  adding a new clause (xlv) to read as
 follows:
 
 (XLV) TELEVISION WRITERS'             AMOUNT OF CREDIT FOR THE SUM OF
 AND DIRECTORS' FEES AND SALARIES      QUALIFIED TELEVISION WRITERS' AND
 CREDIT UNDER SUBSECTION (V)           DIRECTORS' SALARIES CREDIT
                                       UNDER SUBDIVISION FIFTY-FOUR OF
                                       SECTION TWO HUNDRED TEN-B

 S. 5864--A                          5
 
   § 5. Paragraph 4 of subdivision (e) of section 24 of the tax  law,  as
 amended  by  section 2 of part SSS of chapter 59 of the laws of 2019, is
 amended to read as follows:
   (4) Additional pool 2 - The aggregate amount of tax credits allowed in
 subdivision (a) of this section shall be increased by an additional four
 hundred twenty million dollars in each year starting in two thousand ten
 through two thousand twenty-four provided however, seven million dollars
 of  the  annual  allocation shall be available for the empire state film
 post production credit pursuant to section thirty-one of this article in
 two thousand thirteen  and  two  thousand  fourteen  [and],  twenty-five
 million  dollars  of  the  annual  allocation shall be available for the
 empire state film post production credit pursuant to section  thirty-one
 of  this  article  in each year starting in two thousand fifteen through
 two thousand twenty-four AND FIVE MILLION DOLLARS OF  THE  ANNUAL  ALLO-
 CATION  SHALL  BE  MADE AVAILABLE FOR THE TELEVISION WRITERS' AND DIREC-
 TORS' FEES AND SALARIES CREDIT PURSUANT TO SECTION TWENTY-FOUR-B OF THIS
 ARTICLE IN EACH YEAR STARTING IN TWO THOUSAND TWENTY THROUGH  TWO  THOU-
 SAND  TWENTY-FOUR.  This  amount  shall  be  allocated by the governor's
 office for motion picture and television development among taxpayers  in
 accordance  with subdivision (a) of this section. If the commissioner of
 economic development determines that the aggregate amount of tax credits
 available from additional pool 2 for the empire  state  film  production
 tax credit have been previously allocated, and determines that the pend-
 ing applications from eligible applicants for the empire state film post
 production  tax credit pursuant to section thirty-one of this article is
 insufficient to utilize the balance of  unallocated  empire  state  film
 post  production  tax  credits from such pool, the remainder, after such
 pending applications are considered, shall be made available  for  allo-
 cation  in  the  empire  state film tax credit pursuant to this section,
 subdivision twenty of section two hundred ten-B and subsection  (gg)  of
 section  six  hundred  six of this chapter. Also, if the commissioner of
 economic development determines that the aggregate amount of tax credits
 available from  additional  pool  2  for  the  empire  state  film  post
 production  tax  credit  have  been previously allocated, and determines
 that the pending applications from eligible applicants  for  the  empire
 state  film  production  tax credit pursuant to this section is insuffi-
 cient to utilize the balance of unallocated film production tax  credits
 from  such  pool,  then all or part of the remainder, after such pending
 applications are considered, shall be made available for allocation  for
 the  empire  state film post production credit pursuant to this section,
 subdivision thirty-two of section two hundred ten-B and subsection  (qq)
 of  section  six  hundred six of this chapter. The governor's office for
 motion picture and television development must notify taxpayers of their
 allocation year and include the allocation year on  the  certificate  of
 tax  credit.  Taxpayers eligible to claim a credit must report the allo-
 cation year directly on their empire state film  production  credit  tax
 form for each year a credit is claimed and include a copy of the certif-
 icate  with  their  tax  return.  In  the  case of a qualified film that
 receives funds from additional pool 2, no empire state  film  production
 credit  shall  be  claimed  before  the  later  of  the taxable year the
 production of the qualified film is complete, or the taxable year  imme-
 diately  following the allocation year for which the film has been allo-
 cated credit by the governor's office for motion picture and  television
 development.
   §  6. This act shall take effect immediately, and shall apply to taxa-
 ble years beginning on or after January 1, 2020.