Bill Text: NY S06987 | 2015-2016 | General Assembly | Introduced

New York Senate Bill 6987 (Prior Session Legislation)

Introduced

Bill Title: Increases the number of counties in which services can be performed to qualify for the empire state film production credit.

Spectrum: Partisan Bill (Republican 6-0)

Status: (Passed) 2016-11-04 - APPROVAL MEMO.9 [S06987 Detail]

Download: New_York-2015-S06987-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          6987
                    IN SENATE
                                     March 14, 2016
                                       ___________
        Introduced by Sens. AMEDORE, LARKIN, MARCHIONE -- read twice and ordered
          printed, and when printed to be committed to the Committee on Investi-
          gations and Government 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 JJ of chapter 59 of the laws of
     3  2014, is amended to read as follows:
     4    (5) For the period two thousand fifteen through two thousand nineteen,
     5  in addition to the amount of credit established in paragraph two of this
     6  subdivision, a taxpayer shall be allowed a credit equal to  the  product
     7  (or pro rata share of the product, in the case of a member of a partner-
     8  ship)  of  ten percent and the amount of wages or salaries paid to indi-
     9  viduals directly employed (excluding those employed as  writers,  direc-
    10  tors,  music  directors,  producers and performers, including background
    11  actors with no scripted lines) by a qualified film production company or
    12  a qualified independent film production company for  services  performed
    13  by  those individuals in one of the counties specified in this paragraph
    14  in connection with a qualified  film  with  a  minimum  budget  of  five
    15  hundred  thousand  dollars.  For purposes of this additional credit, the
    16  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,  Saratoga,
    22  Schenectady,   Schoharie,   Schuyler,  Seneca,  St.  Lawrence,  Steuben,
    23  Suffolk, Sullivan, Tioga, Tompkins, Ulster, Warren,  Washington,  Wayne,
    24  Wyoming,  or Yates. The aggregate amount of tax credits allowed pursuant
    25  to the authority of this paragraph shall be five  million  dollars  each
    26  year  during  the period two thousand fifteen through two thousand nine-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14462-01-6