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Senate Bill S4662

2025-2026 Legislative Session

Increases transparency in certain film production and post-production tax credits

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Current Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

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2025-S4662 (ACTIVE) - Details

Current Committee:
Senate Commerce, Economic Development And Small Business
Law Section:
Economic Development Law
Laws Affected:
Amd §100, Ec Dev L

2025-S4662 (ACTIVE) - Summary

Requires the department of economic development issue a quarterly report on film production and post-production tax credits by project and by county in the aggregate and publish such reports on such department's website.

2025-S4662 (ACTIVE) - Sponsor Memo

2025-S4662 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4662
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 11, 2025
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Commerce, Economic  Devel-
   opment and Small Business
 
 AN  ACT  to amend the economic development law, in relation to requiring
   the department of economic development issue  a  quarterly  report  on
   film  production  and  post  production  tax credits by project and by
   county in the aggregate and publish such reports on such  department's
   website
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 100 of the economic development law is  amended  by
 adding a new subdivision 50 to read as follows:
   50.  TO SUBMIT A QUARTERLY REPORT ON FILM TAX CREDITS TO THE GOVERNOR,
 THE DIRECTOR OF THE DIVISION OF THE BUDGET, THE CHAIR  OF  THE  ASSEMBLY
 WAYS  AND MEANS COMMITTEE, AND THE CHAIR OF THE SENATE FINANCE COMMITTEE
 AND PUBLISH SUCH REPORT ON THE DEPARTMENT'S PUBLIC FACING WEBSITE.  SUCH
 REPORT  SHALL BE FILED WITHIN FIFTEEN DAYS AFTER THE CLOSE OF THE CALEN-
 DAR QUARTER FOR SUCH CALENDAR QUARTER.   SUCH REPORT SHALL  INCLUDE  ALL
 TAX  CREDITS CLAIMED UNDER SECTIONS TWENTY-FOUR AND THIRTY-ONE, AS ADDED
 BY SECTION TWELVE OF PART Q OF CHAPTER FIFTY-SEVEN OF THE  LAWS  OF  TWO
 THOUSAND  TEN,  OF THE TAX LAW.    SUCH REPORT SHALL INCLUDE, BUT NOT BE
 LIMITED TO, FOR EACH PROJECT, BY NAME,  AND  FOR  EACH  COUNTY,  IN  THE
 AGGREGATE:
   (A)   QUALIFIED PRODUCTION COSTS AND IN WHICH COUNTIES SUCH COSTS WERE
 INCURRED.
   (B) DAYS OF PRINCIPAL PHOTOGRAPHY AND IN WHICH COUNTIES SUCH PRINCIPAL
 PHOTOGRAPHY TOOK PLACE.
   (C) NUMBER OF  EMPLOYEES  ASSOCIATED  AND  TOTAL  EMPLOYEES  HIRED  IN
 RELATION TO SUCH PROJECT AND IN WHICH COUNTIES SUCH EMPLOYEES RESIDE AND
 WORK.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09283-01-5
 S. 4662                             2

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