senate Bill S4669

2019-2020 Legislative Session

Phases out the empire state film production credit

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Investigations And Government Operations 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 (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 20, 2019 referred to investigations and government operations

Co-Sponsors

S4669 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §24, Tax L

S4669 (ACTIVE) - Summary

Phases out the empire state film production credit.

S4669 (ACTIVE) - Sponsor Memo

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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