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Who cares
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Sponsors
2 Co-sponsors
History
- Signed chap.268
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.327
- Substituted for A10244A
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 56–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.977
Show 3 earlier actions
- Print number 7244a
- Amend and recommit to investigations and government operations
- Referred to investigations and government operations
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 allocation of credit for the empire state film production credit; repealer
Assembly Floor Calendar · Sponsor Deborah Glick
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7244A
Title of bill
An act to amend the tax law, in relation to the allocation of credit for the empire state film production credit; and to repeal section 7 of part P of chapter 60 of the laws of 2004, amending the tax law relating to the empire state film production credit, relating thereto
Purpose
This bill would increase the percentage amount of funds currently available for post production film tax credits to facilitate a greater utilization of those funds, throughout New York State.
Summary of provisions
Section 1 - Section 7 of part P of Chapter 60 of the laws of 2004, amending the tax law relating to the empire state film production credit is repealed.
Section 2 - Section 24 of the tax law is amended by adding a new subdivision (e) which creates film tax credit and post production tax credit language in the tax law. This language was previously unconsolidated law.
Section 3 - Paragraph 2 of subdivision (a) and subdivision (c) of section 31 of the tax law, as added by section 12 of part Q of chapter 57 of the laws of 2010 are amended to reflect an increase of the post production credit from 10 to 30% within the MTA region and to 35% outside the MTA region with no change to qualified expenses.
Section 4 - Effective date.
Justification
Currently the $7M allocated for post production film tax credits within the film tax credit funding pool has been under utilized. Increasing the percentage would create a greater incentive for production companies to conduct business within New York State.
Legislative history
New bill
Fiscal implications
None. This funding was previously allocated within the State Budget for the NYS film tax credit.
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.