Bill Text: NY A05621 | 2013-2014 | General Assembly | Amended

New York Assembly Bill 5621 (Prior Session Legislation)

Bill Title: Relates to the allocation of the empire state film production credit against taxes for certain film production costs issued by a city having a population of one million or more.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2014-04-04 - print number 5621a [A05621 Detail]

Download: New_York-2013-A05621-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        5621--A
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                     March 4, 2013
                                      ___________
       Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
         Committee on Ways and Means -- recommitted to the  Committee  on  Ways
         and  Means  in  accordance  with  Assembly Rule 3, sec. 2 -- committee
         discharged, bill amended, ordered reprinted as amended and recommitted
         to said committee
       AN ACT to amend the tax law, in relation to the allocation of such cred-
         it against taxes for certain film production costs issued  by  a  city
         having a population of one million or more
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivision (b) of  section  1201-a  of  the  tax  law,  as
    2  amended  by  section  5  of part Y of chapter 62 of the laws of 2006, is
    3  amended to read as follows:
    4    (b) Empire state film production credit. Any city in this state having
    5  a population of one million or more, acting through its  local  legisla-
    6  tive body, is hereby authorized to adopt and amend local laws to allow a
    7  credit  against the general corporation tax and the unincorporated busi-
    8  ness tax imposed pursuant to the  authority  of  chapter  seven  hundred
    9  seventy-two  of  the  laws  of nineteen hundred sixty-six which shall be
   10  substantially identical to the credit allowed under section  twenty-four
   11  of this chapter, except that:
   12    (A) (I) the percentage of qualified production costs used to calculate
   13  such credit shall be [five] FOUR percent,
   14    (II)  FOR  A TELEVISION SERIES WITH RESPECT TO WHICH A CREDIT HAS BEEN
   15  ALLOWED (1) IN THREE TAXABLE YEARS, THE AMOUNT OF THE  CREDIT  SHALL  BE
   16  THREE PERCENT, (2) IN FOUR TAXABLE YEARS, THE AMOUNT OF THE CREDIT SHALL
   17  BE TWO PERCENT, AND
   18    (III)  NO  CREDIT SHALL BE ALLOWED WITH RESPECT TO A TELEVISION SERIES
   19  FOR WHICH A CREDIT HAS BEEN ALLOWED IN FIVE TAXABLE YEARS;
   20    (B) SUCH CREDIT SHALL NOT EXCEED TWO HUNDRED  FIFTY  THOUSAND  DOLLARS
   21  PER  QUALIFIED  FILM  OR  EPISODE  OF A QUALIFIED TELEVISION SERIES WITH
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05563-03-4
       A. 5621--A                          2
    1  RESPECT TO QUALIFIED PRODUCTION COSTS; PROVIDED, HOWEVER,  THAT  IF  THE
    2  QUALIFIED  POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE
    3  TO THE USE OF TANGIBLE PROPERTY OR THE PERFORMANCE OF SERVICES AT A FILM
    4  POST  PRODUCTION  FACILITY WITHIN THE CITY OF NEW YORK IN THE PRODUCTION
    5  OF SUCH QUALIFIED FILM EQUAL OR EXCEED SEVENTY-FIVE PERCENT OF  ALL  THE
    6  POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE TO THE USE
    7  OF  TANGIBLE  PROPERTY  OR  THE PERFORMANCE OF SERVICES AT ANY FILM POST
    8  PRODUCTION FACILITY WITHIN AND WITHOUT THE CITY  IN  THE  PRODUCTION  OF
    9  SUCH  QUALIFIED  FILM,  THEN THE AGGREGATE ANNUAL MAXIMUM ALLOWED CREDIT
   10  SHALL BE THREE HUNDRED THOUSAND DOLLARS,
   11    [(B)] (C) whenever such section twenty-four references the state, such
   12  words shall be read as referencing the city,
   13    [(C)] (D) such credit shall be allowed only to a taxpayer which  is  a
   14  qualified film production company, [and
   15    (D)]  (E)  the  effective date of such credit shall be July first, two
   16  thousand six. Such credit shall be applied in a manner  consistent  with
   17  the  credit  allowed under subdivision thirty-six of section two hundred
   18  ten of this chapter except as may be  necessary  to  take  into  account
   19  differences  between  the general corporation tax and the unincorporated
   20  business tax, AND
   21    (F) FOR PURPOSES OF THIS SUBDIVISION, "TELEVISION SERIES" OR "EPISODIC
   22  TELEVISION SERIES" MEANS A RECURRING PRODUCTION INTENDED IN ITS  INITIAL
   23  RUN   FOR   BROADCAST   ON   TELEVISION,   WHETHER   FREE   OR   THROUGH
   24  SUBSCRIPTION-BASED SERVICE, THAT HAS A RUNNING TIME OF AT  LEAST  THIRTY
   25  MINUTES  IN  LENGTH, INCLUSIVE OF COMMERCIAL ADVERTISEMENT AND INTERSTI-
   26  TIAL PROGRAMMING.
   27    S 2. This act shall take effect immediately and shall apply to taxable
   28  years beginning on or after January 1, 2014; provided further that  this
   29  act shall apply to applications filed on or after January 1, 2014.