S5577-2011 Actions

• Jan 4, 2012: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
• Jan 4, 2012: returned to senate
• Jan 4, 2012: died in assembly
• Jun 23, 2011: referred to ways and means
• Jun 23, 2011: DELIVERED TO ASSEMBLY
• Jun 23, 2011: PASSED SENATE
• Jun 16, 2011: ORDERED TO THIRD READING CAL.1343
• Jun 10, 2011: PRINT NUMBER 5577A
• Jun 10, 2011: AMEND AND RECOMMIT TO RULES
• Jun 3, 2011: REFERRED TO RULES

S5577-2011 Votes

S5577-2011 Memo

BILL NUMBER:S5577

TITLE OF BILL:
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

PURPOSE:
To amend paragraph 2 of sub. (a) of section 28 of the tax law, as
amended by chapter 300 of the laws of 2007.

JUSTIFICATION:
Establishes a procedure to disburse any money left in the annual
commercial production tax credit fund account.

EFFECTIVE DATE:
Immediately; with provisions.

S5577-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         5577
 2011-2012 Regular Sessions
 I N  SENATE
 June 3, 2011
 
 Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
 printed to be committed to the Committee on Rules
 

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, IF THERE IS ANY MONEY REMAINING FOR THE ANNUAL
 TAX  CREDIT DISBURSEMENT AS DESCRIBED IN SUBPARAGRAPH (I), (II) OR (III)
 OF THIS PARAGRAPH ON AND AFTER JANUARY SECOND, TWO THOUSAND TWELVE, SUCH
 MONEY 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
 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.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11746-01-1

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