Bill Text: NY S05661 | 2011-2012 | General Assembly | Introduced
Bill Title: Increases the maximum amount of empire state film production credits available in 2015 and thereafter to $420,000,000.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2012-01-04 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S05661 Detail]
Download: New_York-2011-S05661-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
5661
2011-2012 Regular Sessions
I N S E N A T E
June 9, 2011
___________
Introduced by Sen. KLEIN -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations
AN ACT to amend chapter 60 of the laws of 2004, amending the tax law
relating to providing tax credits for certain costs incurred in film
and television productions, in relation to the maximum amount of such
credits in 2015 and thereafter
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Section 7 of part P of chapter 60 of the laws of 2004,
2 amending the tax law relating to providing tax credits for certain costs
3 incurred in film and television productions, is amended by adding a new
4 subdivision (f) to read as follows:
5 (F) ADDITIONAL POOL 3 - THE AGGREGATE AMOUNT OF TAX CREDITS ALLOWED IN
6 SUBDIVISION (A) OF THIS SECTION SHALL BE INCREASED BY AN ADDITIONAL $420
7 MILLION BEGINNING IN 2015 AND CONTINUING EVERY YEAR THEREAFTER. THIS
8 ADDITIONAL AMOUNT SHALL BE ALLOCATED BY THE GOVERNOR'S OFFICE FOR MOTION
9 PICTURE AND TELEVISION DEVELOPMENT AMONG TAXPAYERS IN ACCORDANCE WITH
10 SUBDIVISION (A) OF THIS SECTION.
11 S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11750-01-1
