S T A T E O F N E W Y O R K ________________________________________________________________________ 5661 2011-2012 Regular Sessions I N S E N A T E June 9, 2011 ___________ Introduced by Sen. KLEIN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend chapter 60 of the laws of 2004, amending the tax law relating to providing tax credits for certain costs incurred in film and television productions, in relation to the maximum amount of such credits in 2015 and thereafter THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Section 7 of part P of chapter 60 of the laws of 2004, 2 amending the tax law relating to providing tax credits for certain costs 3 incurred in film and television productions, is amended by adding a new 4 subdivision (f) to read as follows: 5 (F) ADDITIONAL POOL 3 - THE AGGREGATE AMOUNT OF TAX CREDITS ALLOWED IN 6 SUBDIVISION (A) OF THIS SECTION SHALL BE INCREASED BY AN ADDITIONAL $420 7 MILLION BEGINNING IN 2015 AND CONTINUING EVERY YEAR THEREAFTER. THIS 8 ADDITIONAL AMOUNT SHALL BE ALLOCATED BY THE GOVERNOR'S OFFICE FOR MOTION 9 PICTURE AND TELEVISION DEVELOPMENT AMONG TAXPAYERS IN ACCORDANCE WITH 10 SUBDIVISION (A) OF THIS SECTION. 11 S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11750-01-1