Bill Text: NY A01253 | 2023-2024 | General Assembly | Introduced

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Bill Title: Defines film zone and excludes the film zone from the additional empire state film production credit.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced) 2024-01-03 - referred to ways and means [A01253 Detail]

Download: New_York-2023-A01253-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1253

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 13, 2023
                                       ___________

        Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
          Committee on Ways and Means

        AN ACT to amend the tax law, in relation to the definition of film  zone
          and  the  exclusion  of the film zone from the additional empire state
          film production credit

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Paragraph  5  of subdivision (a) of section 24 of the tax
     2  law, as amended by section 2 of part M of chapter  59  of  the  laws  of
     3  2022, is amended to read as follows:
     4    (5)  For  the period two thousand fifteen through two thousand twenty-
     5  nine, in addition to the amount of credit established in  paragraph  two
     6  of  this  subdivision, a taxpayer shall be allowed a credit equal to the
     7  product (or pro rata share of the product, in the case of a member of  a
     8  partnership)  of ten percent and the amount of wages or salaries paid to
     9  individuals directly employed  (excluding  those  employed  as  writers,
    10  directors,  music  directors,  producers and performers, including back-
    11  ground actors with no scripted lines) by  a  qualified  film  production
    12  company  or a qualified independent film production company for services
    13  performed by those individuals in one of the counties or areas specified
    14  in this paragraph in connection with a qualified  film  with  a  minimum
    15  budget of five hundred thousand dollars. For purposes of this additional
    16  credit,  the  services must be performed in one or more of the following
    17  counties or areas : Albany, Allegany, Broome, Cattaraugus, Cayuga, Chau-
    18  tauqua, Chemung, Chenango, Clinton, Columbia, Cortland, Delaware, Dutch-
    19  ess, Erie, Essex, Franklin, Fulton, Genesee, Greene, Hamilton, Herkimer,
    20  Jefferson, Lewis,  Livingston,  Madison,  Monroe,  Montgomery,  Niagara,
    21  Oneida,  Onondaga,  Ontario,  Orange,  Orleans,  Oswego, Otsego, Putnam,
    22  Rensselaer, Saratoga,  Schenectady,  Schoharie,  Schuyler,  Seneca,  St.
    23  Lawrence,  Steuben,  Sullivan, Tioga, Tompkins, Ulster, Warren, Washing-
    24  ton, Wayne, Wyoming, [or] Yates, or any area in the counties of Rockland

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01558-01-3
        A. 1253                             2

     1  or Westchester which is not located in the film zone as defined in para-
     2  graph nine of subdivision (b) of this section. The aggregate  amount  of
     3  tax credits allowed pursuant to the authority of this paragraph shall be
     4  five  million  dollars  each year during the period two thousand fifteen
     5  through two thousand twenty-nine of the annual allocation made available
     6  to the program pursuant to paragraph four of  subdivision  (e)  of  this
     7  section.  Such  aggregate  amount  of  credits shall be allocated by the
     8  governor's office for motion picture and  television  development  among
     9  taxpayers in order of priority based upon the date of filing an applica-
    10  tion  for allocation of film production credit with such office.  If the
    11  total amount of allocated credits applied for under  this  paragraph  in
    12  any  year  exceeds  the aggregate amount of tax credits allowed for such
    13  year under this paragraph, such excess shall be treated as  having  been
    14  applied  for  on  the first day of the next year. If the total amount of
    15  allocated tax credits applied for under this paragraph at the conclusion
    16  of any year is less than five million dollars, the  remainder  shall  be
    17  treated  as  part of the annual allocation made available to the program
    18  pursuant to paragraph four of subdivision (e) of this section.  However,
    19  in  no event may the total of the credits allocated under this paragraph
    20  and the credits allocated under paragraph five  of  subdivision  (a)  of
    21  section  thirty-one  of  this article exceed five million dollars in any
    22  year during the period two thousand fifteen through two  thousand  twen-
    23  ty-nine.
    24    § 2. Subdivision (b) of section 24 of the tax law is amended by adding
    25  a new paragraph 9 to read as follows:
    26    (9) "Film zone" shall mean an area within a twenty-five mile radius of
    27  Columbus Circle in the borough of Manhattan.
    28    § 3. This act shall take effect immediately.