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- Reported and committed to finance
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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 enacting the New York state digital game development and incentive act
In Assembly Committee · Economic Development · Sponsor Joseph Morelle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6793
Title of bill
An act to amend the urban development corporation act and the state finance law, in relation to establishing the New York state digital game development and incentive act
Purpose
To incentivize rapid growth and job creation in the digital game development industry by providing competitions and events around the state
Read the full memo (603 words)
Summary of provisions
Section 1 New 16-w in the urban development corporation act, the NYS digital game development and incentive act. Key provisions:
Raise NYS profile
* NYS digital game summit, regional events, & representation at national events. The summit will be a celebration of New York's industry spon- sored by one or more private groups, and regional support is to include support of regional and local events. The purpose is to create an ecosystem of related gatherings, meetings, and competitions. Represen- tation at events will entail ESDC organizing and/or participating in representation of New York digital game companies, entrepreneurs, academics, and others at major game events and venues.
* NYS digital game development competition, a three stage judged compe- tition for prizes over a 24-month period. Judges are from industry, academia, and economic development. Competitors must be residents of the state, new and emerging talent, and early seed stage startup entrepre- neurs. The competition is as follows:
- First competition - 10 winners from each NYS 10 economic development regions. Prize is $10,000 Requires conceptualization, design document, and at least a digital prototype. Winners use the prizes to link with incubators and to develop business attributes and product completion necessary for the next phase of the competition.
- Second competition - 10 winners from the winners of the first competi- tion, scheduled at different venues around the state. Prize is matching funds of up to $100,000. Entrants should be in pre-production, with a vertical slice, and have raised funds for match. Prizes will include access to incubator space and mentoring.
- Final competition - two winners from the ten, selected at the NYS digital game summit. Prize is $500,000. Entrants must have a completed game, and update the information required in the second competition.
- Competition 2 and 3 winners must agree to remain resident in the state for game development purposes for three years, and to return the award to the state should they leave or sell the game or the game company prior to that. Winners must also agree to contribute one percent of
profits of the game to the New York state digital game development fund for three years after publication of the game, or until the amount contributed matches the amount of the award received, whichever time period is less.
* NYS digital game development fund, To receive funds from revenues contributed by winners of the competitions.
Existing law
New bill.
Justification
The digital game industry is $21 billion domestically (2012), greater than the music industry ($16.5 billion), the movie industry ($10.44 billion) and the DVD industry ($18 billion), growing at 10% per year, with an average salary for direct employees of $90,000.
New York ranks 4th among the top states, with 71 developers and publish- ers and 5,474 direct and indirect jobs. Average compensation is $96,602. Top states are California, Washington, Texas, with Massachusetts coming up behind.
The changes in this legislation will dramatically increase New York's share of the industry they are based on recommendations and discussions conducted with the industry in all-day roundtables and other discussions.
Fiscal implications
To be determined, but minimal in the current fiscal year, and then limited thereafter to appropriations and tax credit caps.
Effective date
On the ninetieth day after it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.