What's happening
This bill expands the Empire State film production tax credit to include animated short films and broadcast series/features.
Why it matters
Encourages growth in New York's animation and broadcast sectors. by making animated short films and broadcast series/features eligible for the same film production tax incentives as traditional films and television.
Broadens the definition of “qualified film” for tax purposes,. potentially attracting new types of productions and investment to the state, which could result in more local jobs and economic activity in related industries (animation studios, post-production, etc.).
Positions New York to compete with other states and countries. that already offer tax credits or incentives for animated and broadcast content, helping retain and attract creative talent and companies that might otherwise leave for more favorable locations.
Signals legislative support for evolving media formats,. acknowledging the changing landscape of filmed entertainment and the growing importance of animation and broadcast content beyond traditional film and TV.
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Who cares
Headline styles
Expand Film Tax Credit
Plain English, a few words. Used as the page title.
Sponsors
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History
- Held for consideration in ways and means
- Referred to ways and means
- Referred to ways and means
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5386
2017-2018 Regular Sessions
IN ASSEMBLY
February 8, 2017
Introduced by M. of A. DiPIETRO -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to the empire state film production tax credit
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph 3 of subdivision (b) of section 24 of the tax law, as amended by section 1 of part B of chapter 59 of the laws of 2013, is amended to read as follows:
(3) "Qualified film" means a feature-length film, television film, animated short film, broadcast series and/or features, relocated television production, television pilot and/or each episode of a television series, regardless of the medium by means of which the film, pilot or episode is created or conveyed. "Qualified film" shall not include (i) a documentary film, news or current affairs program, interview or talk program, "how-to" (i.e., instructional) film or program, film or program consisting primarily of stock footage, sporting event or sporting program, game show, award ceremony, film or program intended primarily for industrial, corporate or institutional end-users, fundraising film or program, daytime drama (i.e., daytime "soap opera"), commercials, music videos or "reality" program, or (ii) a production for which records are required under section 2257 of title 18, United States code, to be maintained with respect to any performer in such production (reporting of books, films, etc. with respect to sexually explicit conduct).
§ 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2018.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05922-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.