What's happening
This bill adds Rockland County to the list of counties eligible for the Empire State film production tax credit.
Why it matters
Could boost local job opportunities. By making Rockland County eligible for the extra 10% film production wage credit, the bill could attract more film and TV projects to the area, leading to increased hiring of local crew and support staff.
Potential economic ripple effect. More productions in Rockland mean increased business for local vendors, hotels, restaurants, and service providers, which can stimulate the regional economy beyond just the film sector.
Enhances regional competitiveness. Rockland County would join a select list of counties with this tax incentive, potentially making it more appealing than neighboring counties not on the list when productions are choosing locations.
Limited fiscal impact due to statewide cap. The overall annual cap for this specific credit remains at $5 million, meaning the addition of Rockland County spreads the same pool of tax benefits across more areas, possibly affecting the distribution but not increasing state costs.
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Add Rockland to Film Credit
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to ways and means
- Referred to ways and means
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.
Add Rockland to Film Credit
In Senate Committee · Investigations And Government Operations · Sponsor David Carlucci
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1101
2019-2020 Regular Sessions
IN ASSEMBLY
January 14, 2019
Introduced by M. of A. JAFFEE, ZEBROWSKI, BRABENEC -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to increasing the number of counties in which services can be performed to qualify for the empire state film production credit
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph 5 of subdivision (a) of section 24 of the tax law, as amended by section 1 of part M of chapter 59 of the laws of 2017, is amended to read as follows:
(5) For the period two thousand fifteen through two thousand twentytwo, in addition to the amount of credit established in paragraph two of this subdivision, a taxpayer shall be allowed a credit equal to the product (or pro rata share of the product, in the case of a member of a partnership) of ten percent and the amount of wages or salaries paid to individuals directly employed (excluding those employed as writers, directors, music directors, producers and performers, including background actors with no scripted lines) by a qualified film production company or a qualified independent film production company for services performed by those individuals in one of the counties specified in this paragraph in connection with a qualified film with a minimum budget of five hundred thousand dollars. For purposes of this additional credit, the services must be performed in one or more of the following counties: Albany, Allegany, Broome, Cattaraugus, Cayuga, Chautauqua, Chemung, Chenango, Clinton, Columbia, Cortland, Delaware, Dutchess, Erie, Essex, Franklin, Fulton, Genesee, Greene, Hamilton, Herkimer, Jefferson, Lewis, Livingston, Madison, Monroe, Montgomery, Niagara, Oneida, Onondaga, Ontario, Orange, Orleans, Oswego, Otsego, Putnam, Rensselaer, Rockland, Saratoga, Schenectady, Schoharie, Schuyler, Seneca, St. Lawrence, Steuben, Sullivan, Tioga, Tompkins, Ulster, Warren, Washington, Wayne, Wyoming, or Yates. The aggregate amount of tax credits allowed pursuant to
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02779-01-9
A. 1101 2
the authority of this paragraph shall be five million dollars each year during the period two thousand fifteen through two thousand twenty-two of the annual allocation made available to the program pursuant to paragraph four of subdivision (e) of this section. Such aggregate amount of credits shall be allocated by the governor's office for motion picture and television development among taxpayers in order of priority based upon the date of filing an application for allocation of film production credit with such office. If the total amount of allocated credits applied for under this paragraph in any year exceeds the aggregate amount of tax credits allowed for such year under this paragraph, such excess shall be treated as having been applied for on the first day of the next year. If the total amount of allocated tax credits applied for under this paragraph at the conclusion of any year is less than five million dollars, the remainder shall be treated as part of the annual allocation made available to the program pursuant to paragraph four of subdivision (e) of this section. However, in no event may the total of the credits allocated under this paragraph and the credits allocated under paragraph five of subdivision (a) of section thirty-one of this article exceed five million dollars in any year during the period two thousand fifteen through two thousand twenty-two.
§ 2. This act shall take effect immediately.
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.