Bill Text: NY S05033 | 2019-2020 | General Assembly | Introduced


Bill Title: 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-04-03 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S05033 Detail]

Download: New_York-2019-S05033-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          5033
                               2019-2020 Regular Sessions
                    IN SENATE
                                      April 3, 2019
                                       ___________
        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:
     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, Nassau, Niagara, Oneida,  Onon-
    21  daga,  Ontario,  Orange,  Orleans,  Oswego,  Otsego, Putnam, Rensselaer,
    22  Saratoga, Schenectady, Schoharie, Schuyler, Seneca, St. Lawrence,  Steu-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10863-01-9

        S. 5033                             2
     1  ben,  Suffolk,  Sullivan,  Tioga,  Tompkins, Ulster, Warren, Washington,
     2  Wayne, Wyoming, or Yates. The aggregate amount of  tax  credits  allowed
     3  pursuant  to  the  authority  of  this  paragraph  shall be five million
     4  dollars  each  year  during  the period two thousand fifteen through two
     5  thousand twenty-two of the  annual  allocation  made  available  to  the
     6  program  pursuant  to paragraph four of subdivision (e) of this section.
     7  Such aggregate amount of credits shall be allocated  by  the  governor's
     8  office  for motion picture and television development among taxpayers in
     9  order of priority based upon the date of filing an application for allo-
    10  cation of film production credit with such office. If the  total  amount
    11  of  allocated  credits  applied  for  under  this  paragraph in any year
    12  exceeds the aggregate amount of tax credits allowed for such year  under
    13  this  paragraph, such excess shall be treated as having been applied for
    14  on the first day of the next year. If the total amount of allocated  tax
    15  credits  applied  for under this paragraph at the conclusion of any year
    16  is less than five million dollars, the remainder  shall  be  treated  as
    17  part  of the annual allocation made available to the program pursuant to
    18  paragraph four of subdivision (e) of this section. However, in no  event
    19  may  the  total  of  the  credits allocated under this paragraph and the
    20  credits allocated under paragraph five of  subdivision  (a)  of  section
    21  thirty-one  of  this  article  exceed  five  million dollars in any year
    22  during the period two thousand fifteen through two thousand twenty-two.
    23    § 2. Paragraph 6 of subdivision (a) of section 31 of the tax  law,  as
    24  amended  by  section  3  of part M of chapter 59 of the laws of 2017, is
    25  amended to read as follows:
    26    (6) For the period two thousand fifteen through two  thousand  twenty-
    27  two, in addition to the amount of credit established in paragraph two of
    28  this  subdivision  [(a)  of this section], a taxpayer shall be allowed a
    29  credit equal to the product (or pro rata share of the  product,  in  the
    30  case  of  a  member  of  a partnership) of ten percent and the amount of
    31  wages or salaries paid to individuals directly employed (excluding those
    32  employed as writers, directors, music directors, producers and  perform-
    33  ers,  including  background  actors with no scripted lines) for services
    34  performed by those individuals in one of the counties specified in  this
    35  paragraph  in  connection  with  the post production work on a qualified
    36  film with a minimum budget of five hundred thousand dollars at a  quali-
    37  fied  post  production  facility  in  one of the counties listed in this
    38  paragraph. For purposes of this additional credit, the services must  be
    39  performed  in  one  or more of the following counties: Albany, Allegany,
    40  Broome, Cattaraugus, Cayuga,  Chautauqua,  Chemung,  Chenango,  Clinton,
    41  Cortland,  Delaware,  Erie,  Essex, Franklin, Fulton, Genesee, Hamilton,
    42  Herkimer, Jefferson, Lewis,  Livingston,  Madison,  Monroe,  Montgomery,
    43  Nassau,  Niagara,  Oneida,  Onondaga,  Ontario, Orleans, Oswego, Otsego,
    44  Schenectady,  Schoharie,  Schuyler,  Seneca,  St.   Lawrence,   Steuben,
    45  Suffolk, Tioga, Tompkins, Wayne, Wyoming, or Yates. The aggregate amount
    46  of tax credits allowed pursuant to the authority of this paragraph shall
    47  be five million dollars each year during the period two thousand fifteen
    48  through  two thousand twenty-two of the annual allocation made available
    49  to the empire state film post production credit  pursuant  to  paragraph
    50  four  of  subdivision  (e)  of section twenty-four of this article. Such
    51  aggregate amount of credits shall be allocated by the governor's  office
    52  for  motion  picture and television development among taxpayers in order
    53  of priority based upon the date of filing an application for  allocation
    54  of post production credit with such office. If the total amount of allo-
    55  cated  credits  applied for under this paragraph in any year exceeds the
    56  aggregate amount of tax credits allowed for such year under  this  para-

        S. 5033                             3
     1  graph,  such  excess  shall be treated as having been applied for on the
     2  first day of the next year. If the total amount of allocated tax credits
     3  applied for under this paragraph at the conclusion of any year  is  less
     4  than five million dollars, the remainder shall be treated as part of the
     5  annual  allocation  for  two  thousand  seventeen  made available to the
     6  empire state film post production credit pursuant to paragraph  four  of
     7  subdivision  (e)  of section twenty-four of this article. However, in no
     8  event may the total of the credits allocated under  this  paragraph  and
     9  the credits allocated under paragraph five of subdivision (a) of section
    10  twenty-four  of  this  article  exceed  five million dollars in any year
    11  during the period two thousand fifteen through two thousand twenty-two.
    12    § 3. This act shall take effect immediately.
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