|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2020||referred to budget and revenue|
|Dec 04, 2019||referred to rules|
senate Bill S6882
Current Bill Status - In Senate Committee Budget And Revenue Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6882 (ACTIVE) - Details
- See Assembly Version of this Bill:
- Law Section:
- Tax Law
- Laws Affected:
- Add §45, amd §§210-B & 606, Tax L; add §242, Ec Dev L
S6882 (ACTIVE) - Summary
Creates the empire state digital gaming media production credit for a taxpayer which is a digital gaming media production entity engaged in qualified digital gaming media production or who is a sole proprietor of or a member of a partnership, which is a digital gaming media production in qualified digital gaming media production; requires the empire state development corporation to file a biannual report with the director of the division of the budget and the chairpersons of the assembly ways and means committee and the senate finance committee; makes related provisions.
S6882 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6882 SPONSOR: BRESLIN TITLE OF BILL: An act to amend the tax law and the economic development law, in relation to the creation of the empire state digital gaming media production credit; and providing for the repeal of certain provisions upon expiration thereof PURPOSE OF THE BILL: To remake the digital media gaming adopted in Part K of chapter 59 of the laws of 2015 (Revenue Bill A.3009-B) into a "below-the-line" production credit This will allow the industry to accurately calculate the benefits of the programs, allow the State to better monitor the credits, and to ease access to the incentives. SUMMARY OF SPECIFIC PROVISIONS: Section one creates a new section forty-four in the Tax Law to provide a
S6882 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6882 2019-2020 Regular Sessions I N S E N A T E December 4, 2019 ___________ Introduced by Sen. BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the tax law and the economic development law, in relation to the creation of the empire state digital gaming media production credit; and providing for the repeal of certain provisions upon expiration thereof 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 45 to read as follows: § 45. EMPIRE STATE DIGITAL GAMING MEDIA PRODUCTION CREDIT. (A) ALLOW- ANCE OF CREDIT. (1) A TAXPAYER WHICH IS A DIGITAL GAMING MEDIA PRODUCTION ENTITY ENGAGED IN QUALIFIED DIGITAL GAMING MEDIA PRODUCTION, OR WHO IS A SOLE PROPRIETOR OF OR A MEMBER OF A PARTNERSHIP, WHICH IS A DIGITAL GAMING MEDIA PRODUCTION ENTITY ENGAGED IN QUALIFIED DIGITAL GAMING MEDIA PRODUCTION, AND IS SUBJECT TO TAX UNDER ARTICLE NINE-A OR TWENTY-TWO OF THIS CHAPTER, SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX TO BE COMPUTED AS PROVIDED HEREIN. (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 OR LIMITED LIABILITY COMPANY) OF TWENTY-FIVE PERCENT AND THE ELIGIBLE PRODUCTION COSTS OF ONE OR MORE QUALIFIED DIGITAL GAMING MEDIA PRODUCTIONS. (3) ELIGIBLE DIGITAL GAMING MEDIA PRODUCTION COSTS FOR A QUALIFIED DIGITAL GAMING MEDIA PRODUCTION INCURRED AND PAID IN THIS STATE BUT OUTSIDE SUCH METROPOLITAN COMMUTER TRANSPORTATION DISTRICT SHALL BE ELIGIBLE FOR A CREDIT OF TEN PERCENT OF SUCH ELIGIBLE PRODUCTION COSTS IN ADDITION TO THE CREDIT SPECIFIED IN PARAGRAPH TWO OF THIS SUBDIVI- SION. (4) ELIGIBLE PRODUCTION COSTS SHALL NOT INCLUDE THOSE COSTS USED BY THE TAXPAYER OR ANOTHER TAXPAYER AS THE BASIS CALCULATION OF ANY OTHER TAX CREDIT ALLOWED UNDER THIS CHAPTER OR ALLOWED IN ANY OTHER STATE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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