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

New York Senate Bill 2027 (Prior Session Legislation)

NY State Legislature page for S02027

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2027
                              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
       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
   22  RESPECT TO QUALIFIED PRODUCTION COSTS; PROVIDED, HOWEVER,  THAT  IF  THE
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05563-01-3
       S. 2027                             2
    1  QUALIFIED  POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE
    2  TO THE USE OF TANGIBLE PROPERTY OR THE PERFORMANCE OF SERVICES AT A FILM
    3  POST PRODUCTION FACILITY WITHIN THE CITY OF NEW YORK IN  THE  PRODUCTION
    4  OF  SUCH  QUALIFIED FILM EQUAL OR EXCEED SEVENTY-FIVE PERCENT OF ALL THE
    5  POST PRODUCTION COSTS PAID OR INCURRED WHICH ARE ATTRIBUTABLE TO THE USE
    6  OF TANGIBLE PROPERTY OR THE PERFORMANCE OF SERVICES  AT  ANY  FILM  POST
    7  PRODUCTION  FACILITY  WITHIN  AND  WITHOUT THE CITY IN THE PRODUCTION OF
    8  SUCH QUALIFIED FILM, THEN THE AGGREGATE ANNUAL  MAXIMUM  ALLOWED  CREDIT
    9  SHALL BE THREE HUNDRED THOUSAND DOLLARS,
   10    [(B)] (C) whenever such section twenty-four references the state, such
   11  words shall be read as referencing the city,
   12    [(C)]  (D)  such credit shall be allowed only to a taxpayer which is a
   13  qualified film production company, [and
   14    (D)] (E) the effective date of such credit shall be  July  first,  two
   15  thousand  six.  Such credit shall be applied in a manner consistent with
   16  the credit allowed under subdivision thirty-six of section  two  hundred
   17  ten  of  this  chapter  except  as may be necessary to take into account
   18  differences between the general corporation tax and  the  unincorporated
   19  business tax, AND
   20    (F) FOR PURPOSES OF THIS SUBDIVISION, "TELEVISION SERIES" OR "EPISODIC
   21  TELEVISION  SERIES" MEANS A RECURRING PRODUCTION INTENDED IN ITS INITIAL
   22  RUN   FOR   BROADCAST   ON   TELEVISION,   WHETHER   FREE   OR   THROUGH
   23  SUBSCRIPTION-BASED  SERVICE,  THAT HAS A RUNNING TIME OF AT LEAST THIRTY
   24  MINUTES IN LENGTH, INCLUSIVE OF COMMERCIAL ADVERTISEMENT  AND  INTERSTI-
   25  TIAL PROGRAMMING.
   26    S 2. This act shall take effect immediately and shall apply to taxable
   27  years  beginning on or after January 1, 2013; provided further that this
   28  act shall apply to applications filed on or after January 1, 2013.