Senate Bill S420

2023-2024 Legislative Session

Relates to providing an additional ten percent credit on qualified labor expenses under the empire state film production and post production credits in Nassau and Suffolk counties

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Investigations And Government Operations Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S420 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§24 & 31, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: S5033
2021-2022: S98

2023-S420 (ACTIVE) - Summary

Provides an additional ten percent credit on qualified labor expenses under the empire state film production credit and empire state film post production credit in Nassau and Suffolk counties.

2023-S420 (ACTIVE) - Sponsor Memo

2023-S420 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    420
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 4, 2023
                                ___________
 
 Introduced  by  Sen.  THOMAS -- 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 providing an additional  ten
   percent credit on qualified labor expenses under the empire state film
   production  credit  and  empire  state  film post production credit in
   Nassau and Suffolk counties
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  5  of subdivision (a) of section 24 of the tax
 law, as amended by section 2 of part M of chapter  59  of  the  laws  of
 2022, is amended to read as follows:
   (5)  For  the period two thousand fifteen through two thousand twenty-
 nine, in addition to the amount of credit established in  paragraph  two
 of  this  subdivision, a taxpayer shall be allowed a credit equal to the
 product (or pro rata share of the product, in the case of a member of  a
 partnership)  of ten percent and the amount of wages or salaries paid to
 individuals directly employed  (excluding  those  employed  as  writers,
 directors,  music  directors,  producers and performers, including back-
 ground actors with no scripted lines) by  a  qualified  film  production
 company  or a qualified independent film production company for services
 performed by those individuals in one of the counties specified in  this
 paragraph  in  connection with a qualified film with a minimum budget of
 five hundred thousand dollars. For purposes of this  additional  credit,
 the services must be performed in one or more of the following counties:
 Albany,  Allegany,  Broome,  Cattaraugus,  Cayuga,  Chautauqua, Chemung,
 Chenango, Clinton, Columbia, Cortland, Delaware, Dutchess, Erie,  Essex,
 Franklin, Fulton, Genesee, Greene, Hamilton, Herkimer, Jefferson, Lewis,
 Livingston,  Madison, Monroe, Montgomery, NASSAU, Niagara, Oneida, Onon-
 daga, Ontario, Orange,  Orleans,  Oswego,  Otsego,  Putnam,  Rensselaer,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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