Bill Text: NY S01142 | 2019-2020 | General Assembly | Introduced

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Bill Title: Authorizes Rockland county to qualify for the empire state film production credit.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S01142 Detail]

Download: New_York-2019-S01142-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          1142
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 11, 2019
                                       ___________
        Introduced  by Sen. CARLUCCI -- 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  increasing  the  number  of
          counties  in which services can be performed to qualify for the empire
          state film production credit
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Paragraph  5  of subdivision (a) of section 24 of the tax
     2  law, as amended by section 1 of part M of chapter  59  of  the  laws  of
     3  2017, is amended to read as follows:
     4    (5)  For  the period two thousand fifteen through two thousand twenty-
     5  two, in addition to the amount of credit established in paragraph two of
     6  this subdivision, a taxpayer shall be allowed  a  credit  equal  to  the
     7  product  (or pro rata share of the product, in the case of a member of a
     8  partnership) of ten percent and the amount of wages or salaries paid  to
     9  individuals  directly  employed  (excluding  those  employed as writers,
    10  directors, music directors, producers and  performers,  including  back-
    11  ground  actors  with  no  scripted lines) by a qualified film production
    12  company or a qualified independent film production company for  services
    13  performed  by those individuals in one of the counties specified in this
    14  paragraph in connection with a qualified film with a minimum  budget  of
    15  five  hundred  thousand dollars. For purposes of this additional credit,
    16  the services must be performed in one or more of the following counties:
    17  Albany, Allegany,  Broome,  Cattaraugus,  Cayuga,  Chautauqua,  Chemung,
    18  Chenango,  Clinton, Columbia, Cortland, Delaware, Dutchess, Erie, Essex,
    19  Franklin, Fulton, Genesee, Greene, Hamilton, Herkimer, Jefferson, Lewis,
    20  Livingston, Madison,  Monroe,  Montgomery,  Niagara,  Oneida,  Onondaga,
    21  Ontario,  Orange, Orleans, Oswego, Otsego, Putnam, Rensselaer, Rockland,
    22  Saratoga, Schenectady, Schoharie, Schuyler, Seneca, St. Lawrence,  Steu-
    23  ben, Sullivan, Tioga, Tompkins, Ulster, Warren, Washington, Wayne, Wyom-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02779-01-9
        S. 1142                             2
     1  ing,  or  Yates. The aggregate amount of tax credits allowed pursuant to
     2  the authority of this paragraph shall be five million dollars each  year
     3  during  the  period two thousand fifteen through two thousand twenty-two
     4  of the annual allocation made available to the program pursuant to para-
     5  graph  four of subdivision (e) of this section. Such aggregate amount of
     6  credits shall be allocated by the governor's office for  motion  picture
     7  and  television  development  among taxpayers in order of priority based
     8  upon the date of filing an application for allocation of film production
     9  credit with such office.  If  the  total  amount  of  allocated  credits
    10  applied  for  under  this  paragraph  in  any year exceeds the aggregate
    11  amount of tax credits allowed for such year under this  paragraph,  such
    12  excess  shall  be treated as having been applied for on the first day of
    13  the next year. If the total amount of allocated tax credits applied  for
    14  under  this  paragraph  at  the conclusion of any year is less than five
    15  million dollars, the remainder shall be treated as part  of  the  annual
    16  allocation  made  available to the program pursuant to paragraph four of
    17  subdivision (e) of this section. However, in no event may the  total  of
    18  the  credits  allocated  under  this paragraph and the credits allocated
    19  under paragraph five of subdivision (a) of section  thirty-one  of  this
    20  article  exceed  five  million dollars in any year during the period two
    21  thousand fifteen through two thousand twenty-two.
    22    § 2. This act shall take effect immediately.