senate Bill S6882

2019-2020 Legislative Session

Creates the empire state digital gaming media production credit

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Budget And Revenue 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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to budget and revenue
Dec 04, 2019 referred to rules

S6882 (ACTIVE) - Details

See Assembly Version of this Bill:
A8758
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

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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