A7228A-2011 Actions

• Jan 4, 2012: referred to ways and means
• Jun 14, 2011: print number 7228a
• Jun 14, 2011: amend (t) and recommit to ways and means
• Apr 19, 2011: referred to ways and means

A7228A-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                   7228--A

                         2011-2012 Regular Sessions

                            I N  ASSEMBLY

                               April 19, 2011
                                 ___________

  Introduced  by  M.  of  A. MORELLE, BING, CYMBROWITZ, SCARBOROUGH, HOYT,
    LUPARDO, MAGNARELLI, KELLNER, LAVINE, GALEF, GABRYSZAK, JAFFEE,  MILL-
    MAN,  SCHROEDER,  TITONE,  WEISENBERG,  ZEBROWSKI, M. MILLER, BRONSON,
    CASTRO, SIMOTAS, WEPRIN, DenDEKKER -- Multi-Sponsored by -- M.  of  A.
    ABBATE,  GIBSON,  GLICK,  McENENY,  MENG, O'DONNELL, PEOPLES-STOKES --
    read once and referred to the Committee on Ways and Means -- committee
    discharged, bill amended, ordered reprinted as amended and recommitted
    to said committee

  AN ACT to amend the tax law and chapter 62 of the laws of 2006  amending
    the  tax  law  relating  to the empire state commercial production tax
    credit, in relation to tax credit disbursements and the  effectiveness
    of such provisions

    THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section 1. Paragraph 2 of subdivision (a) of section  28  of  the  tax
  law, as amended by chapter 300 of the laws of 2007, is amended by adding
  a new subparagraph (iv) to read as follows:

    (IV)  PROVIDED,  HOWEVER,  ON  AND  AFTER  JANUARY FIRST, TWO THOUSAND
  TWELVE, IF THERE ARE ANY FUNDS  REMAINING  FOR  THE  ANNUAL  TAX  CREDIT
  DISBURSEMENT  AS  DESCRIBED  IN  SUBPARAGRAPH (I), (II) OR (III) OF THIS
  PARAGRAPH ON AND AFTER JANUARY SECOND, SUCH FUNDS SHALL BE AVAILABLE  TO
  ALL  ELIGIBLE  PRODUCTION COMPANIES SATISFYING THE CRITERIA SET FORTH IN
  THIS SECTION, REGARDLESS OF GEOGRAPHIC LOCATION, UPON  APPROVAL  OF  THE
  APPLICATION REQUIRED UNDER THIS SECTION.
    S  2. Section 10 of part V of chapter 62 of the laws of 2006, amending
  the tax law relating to the empire state commercial production tax cred-
  it, is amended to read as follows:

    S 10. This act shall take effect immediately and shall apply to  taxa-
  ble years beginning on and after January 1, 2007 and shall expire and be
  deemed  repealed on December 31, [2011] 2016; provided, however that the
  IMB credit for energy taxes under subsection (t-1) and  the  state  film

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD10632-04-1

 A. 7228--A                          2

  production  credit  under  subsection (gg) of section 606 of the tax law
  contained in section four of this act shall expire on the same  date  as
  provided in subdivision (a) of section 49 of part Y of chapter 63 of the
  laws  of  2000,  as amended and section 9 of part P of chapter 60 of the
  laws of 2004, as amended, respectively.
    S 3. This act shall take effect immediately; provided,  however,  that
  the  amendments  to  paragraph 2 of subdivision (a) of section 28 of the
  tax law made by section one of this act shall not affect the  repeal  of
  such section and shall be deemed repealed therewith.