Bill Text: NY S02027 | 2013-2014 | General Assembly | Amended

New York Senate Bill 2027 (Prior Session Legislation)

NY State Legislature page for S02027

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) 2014-03-28 - PRINT NUMBER 2027A [S02027 Detail]

Download: New_York-2013-S02027-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        2027--A
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations -- recommitted to the Committee on Investigations  and
         Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
         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;
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05563-02-4
       S. 2027--A                          2
    1    (B)  SUCH  CREDIT  SHALL NOT EXCEED TWO HUNDRED FIFTY THOUSAND DOLLARS
    2  PER QUALIFIED FILM OR EPISODE OF  A  QUALIFIED  TELEVISION  SERIES  WITH
    3  RESPECT  TO  QUALIFIED  PRODUCTION COSTS; PROVIDED, HOWEVER, THAT IF THE
    4  QUALIFIED POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE  ATTRIBUTABLE
    5  TO THE USE OF TANGIBLE PROPERTY OR THE PERFORMANCE OF SERVICES AT A FILM
    6  POST  PRODUCTION  FACILITY WITHIN THE CITY OF NEW YORK IN THE PRODUCTION
    7  OF SUCH QUALIFIED FILM EQUAL OR EXCEED SEVENTY-FIVE PERCENT OF  ALL  THE
    8  POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE TO THE USE
    9  OF  TANGIBLE  PROPERTY  OR  THE PERFORMANCE OF SERVICES AT ANY FILM POST
   10  PRODUCTION FACILITY WITHIN AND WITHOUT THE CITY  IN  THE  PRODUCTION  OF
   11  SUCH  QUALIFIED  FILM,  THEN THE AGGREGATE ANNUAL MAXIMUM ALLOWED CREDIT
   12  SHALL BE THREE HUNDRED THOUSAND DOLLARS,
   13    [(B)] (C) whenever such section twenty-four references the state, such
   14  words shall be read as referencing the city,
   15    [(C)] (D) such credit shall be allowed only to a taxpayer which  is  a
   16  qualified film production company, [and
   17    (D)]  (E)  the  effective date of such credit shall be July first, two
   18  thousand six. Such credit shall be applied in a manner  consistent  with
   19  the  credit  allowed under subdivision thirty-six of section two hundred
   20  ten of this chapter except as may be  necessary  to  take  into  account
   21  differences  between  the general corporation tax and the unincorporated
   22  business tax, AND
   23    (F) FOR PURPOSES OF THIS SUBDIVISION, "TELEVISION SERIES" OR "EPISODIC
   24  TELEVISION SERIES" MEANS A RECURRING PRODUCTION INTENDED IN ITS  INITIAL
   25  RUN   FOR   BROADCAST   ON   TELEVISION,   WHETHER   FREE   OR   THROUGH
   26  SUBSCRIPTION-BASED SERVICE, THAT HAS A RUNNING TIME OF AT  LEAST  THIRTY
   27  MINUTES  IN  LENGTH, INCLUSIVE OF COMMERCIAL ADVERTISEMENT AND INTERSTI-
   28  TIAL PROGRAMMING.
   29    S 2. This act shall take effect immediately and shall apply to taxable
   30  years beginning on or after January 1, 2014; provided further that  this
   31  act shall apply to applications filed on or after January 1, 2014.