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History
- 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 creation of the empire state music production tax credit
In Assembly Committee · Ways And Means · Sponsor Joseph Lentol
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6716
Title of bill
An act to amend the tax law, in relation to the creation of the empire state music production credit
Purpose
Relates to the creation of the empire state music production tax credit
Summary of provisions
The tax law in amended by adding a new section 41. Section 210 of the tax law is amended by adding a new subdivision 48. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding a new clause (xxxvii). Subsections (yy) and (zz) of section 606 of the tax law, as relettered by section 5 of part H of Chapter 1 of the laws of 2003, are relettered subsections (yyy) and (zzz) and a new subsection (xx) is added.
Justification
The music industry in New York State continues to expand our cultural frontiers while driving the creative economy to new post-recession heights. Other states have taken notice. Georgia, Tennessee and Louisiana have passed legislation that would provide production tax credits and incentives. Provinces of Canada have also introduced production tax credits. New York artists are increasingly faced with a choice of producing their music locally or traveling to other states.
Legislative History: New Bill
Fiscal implications
To be determined.
Effective date
This act shall take effect on the one hundred eightieth day after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.