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Sponsors
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History
- Substituted by A7262
- Advanced to third reading
- 2nd report cal.
- 1st report cal.838
- 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 definition of the term "recorded programs" for purposes of the sales tax exemption for machinery or equipment for use or consumption by a broadcaster
Signed by Governor · Sponsor Richard Gottfried
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4696 REVISED 5/16/13
Title of bill
An act to amend the tax law, in relation to the definition of the term "recorded programs" for purposes of the sales tax exemption for machinery or equipment for use or consumption by a broadcaster directly and predominantly in the production of certain live or recorded programs
Purpose
This bill would clarify the definition of the term "recorded programs" for purposes of the sales tax exemption for machinery or equipment for use or consumption by a broadcaster directly and predominantly in the production of certain live or recorded programs.
Summary of provisions
Section 1 - Amends subparagraph (C) of paragraph 38 of subdivision (a) of section 1115 of the tax law, as added by section 1 of part T of Chapter 63 of the laws of 2000.
Section 2 - Effective Date
Justification
Due to the evolution of production technology from physical recording to a digital based industry, this bill will clarify that the current tax exemption for production equipment would apply to digital production.
Legislative history
New legislation
Fiscal implications
This bill is revenue neutral as the current exemption which applies to taped recording equipment would be applied to digital recording equipment which over time will replace existing tape recording equipment. According to the 2013-14 annual report on New York tax expenditures, the exemption has totaled $4M annually since 2006.
Effective date
This act shall tax effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.