Bill Text: NY A09089 | 2013-2014 | General Assembly | Introduced

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Bill Title: Requires that services eligible for the empire state film production tax credit take place in certain counties.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-03-13 - referred to ways and means [A09089 Detail]

Download: New_York-2013-A09089-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         9089
                                 I N  A S S E M B L Y
                                    March 13, 2014
                                      ___________
       Introduced  by  M.  of  A. SANTABARBARA -- read once and referred to the
         Committee on Ways and Means
       AN ACT to amend the tax law, in  relation  to  requiring  that  services
         eligible for the empire state film production tax credit take place in
         certain counties
         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 added by section 7 of part B of chapter 59 of the laws of 2013,
    3  is amended to read as follows:
    4    (5) For the period two thousand fifteen through two thousand nineteen,
    5  in addition to the amount of credit established in paragraph two of this
    6  subdivision, a taxpayer shall be allowed a credit equal to  the  product
    7  (or pro rata share of the product, in the case of a member of a partner-
    8  ship)  of  ten percent and the amount of wages or salaries paid to indi-
    9  viduals directly employed (excluding those employed as  writers,  direc-
   10  tors,  music  directors,  producers and performers, including background
   11  actors with no scripted lines) by a qualified film production company or
   12  a qualified independent film production company for  services  performed
   13  by  those individuals in one of the counties specified in this paragraph
   14  in connection with a qualified  film  with  a  minimum  budget  of  five
   15  hundred  thousand dollars.   For purposes of this additional credit, the
   16  services must be performed in one or more  of  the  following  counties:
   17  ALBANY,  Allegany,  Broome,  Cattaraugus,  Cayuga,  Chautauqua, Chemung,
   18  Chenango, Clinton, COLUMBIA, Cortland, Delaware, DUTCHESS, Erie,  Essex,
   19  Franklin, Fulton, Genesee, GREENE, Hamilton, Herkimer, Jefferson, Lewis,
   20  Livingston,  Madison,  Monroe,  Montgomery,  Niagara,  Oneida, Onondaga,
   21  Ontario, ORANGE, Orleans, Oswego, Otsego, PUTNAM, RENSSELAER,  ROCKLAND,
   22  SARATOGA,  SCHENECTADY, Schoharie, Schuyler, Seneca, St. Lawrence, Steu-
   23  ben, SULLIVAN, Tioga, Tompkins, ULSTER, WARREN, WASHINGTON, Wayne, Wyom-
   24  ing, or Yates.  The aggregate amount of tax credits allowed pursuant  to
   25  the  authority of this paragraph shall be five million dollars each year
   26  during the period two thousand fifteen through two thousand nineteen  of
   27  the  annual  allocation  made available to the program pursuant to para-
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10749-03-4
       A. 9089                             2
    1  graph four of subdivision (e) of this section. Such aggregate amount  of
    2  credits  shall  be allocated by the governor's office for motion picture
    3  and television development among taxpayers in order  of  priority  based
    4  upon the date of filing an application for allocation of film production
    5  credit  with  such  office.  If  the  total  amount of allocated credits
    6  applied for under this paragraph  in  any  year  exceeds  the  aggregate
    7  amount  of  tax credits allowed for such year under this paragraph, such
    8  excess shall be treated as having been applied for on the first  day  of
    9  the  next year. If the total amount of allocated tax credits applied for
   10  under this paragraph at the conclusion of any year  is  less  than  five
   11  million  dollars,  the  remainder shall be treated as part of the annual
   12  allocation made available to the program pursuant to paragraph  four  of
   13  subdivision  (e)  of this section. However, in no event may the total of
   14  the credits allocated under this paragraph  and  the  credits  allocated
   15  under  paragraph  five  of subdivision (a) of section thirty-one of this
   16  article exceed five million dollars in any year during  the  period  two
   17  thousand fifteen through two thousand nineteen.
   18    S 2. This act shall take effect immediately and shall apply to taxable
   19  years beginning on or after January 1, 2014.