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History
- Signed chap.448
- Delivered to governor
- Returned to assembly
- Passed senateVote 57–0
- 3rd reading cal.935
- Substituted for S5998
- Referred to rules
- Delivered to senate
- Passed assembly
- Ordered to third reading rules cal.651
- Rules report cal.651
- Reported
Show 4 earlier actions
- Reported referred to rules
- Print number 8018a
- Amend and recommit to ways and means
- Referred to ways and means
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to the commercial production credit
Senate Floor Calendar · Sponsor Jeffrey D. Klein
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A8018A
Title of bill
An act to amend the tax law, in relation to the commer- cial production credit
Purpose or general idea of bill
To provide clarification for the meas- uring standards applicable to the growth credit and to amend the defi- nition of production costs to include various techniques used in the industry.
Summary of specific provisions
Section one of the bill makes two amendments to section 28 of the tax law.
First, the bill clarifies the measuring standards to access the "growth credit" available to the qualified production companies as part of the empire state commercial production credit.
Second, the bill amends the definition of production costs so that vari- ous production techniques shall be deemed qualified production costs.
Section two of the bill provides the effective date.
Justification
This technical amendment to the tax credit provides clarification of measuring standards and in the definition of qualified production costs. The measuring standards are clarified to guide the calculation used by qualified production companies to access the "growth credit" as part of the empire state commercial production credit. The definition of qualified production costs is clarified to clearly include certain production techniques that are used in commercial production within the eligible qualified production costs.
Prior legislative history
FISCAL IMPLICATIONS:
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.