|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 20, 2019||referred to investigations and government operations|
senate Bill S4669
Current Bill Status - In Senate Committee Investigations And Government Operations Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S4669 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §24, Tax L
S4669 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4669 SPONSOR: ANTONACCI TITLE OF BILL: An act to amend the tax law, in relation to phasing out the empire state film production credit PURPOSE: To phase out the empire state film production tax credit SUMMARY OF PROVISIONS: Section 1 - Paragraph 4 of subdivision (e) of section 24 of the tax law is amended. Section 2 - Establishes the effective date. JUSTIFICATION: The film tax credit should be eliminated. The overwhelming majority of
S4669 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4669 2019-2020 Regular Sessions I N S E N A T E March 20, 2019 ___________ Introduced by Sen. ANTONACCI -- 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 phasing out the empire state film production credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 4 of subdivision (e) of section 24 of the tax law, as amended by section 2 of part M of chapter 59 of the laws of 2017, 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-two] TWENTY, TWO HUNDRED EIGHTY MILLION DOLLARS IN TWO THOUSAND TWENTY-ONE AND ONE HUNDRED FORTY MILLION DOLLARS IN TWO THOUSAND TWENTY-TWO 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 arti- cle in each year starting in two thousand fifteen through two thousand twenty-two. 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 avail- able from additional pool 2 for the empire state film production tax credit have been previously allocated, and determines that the pending 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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