Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 07, 2014 |
referred to investigations and government operations |
Senate Bill S6766
2013-2014 Legislative Session
Sponsored By
(R, C) 60th Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-S6766 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§28 & 606, Tax L; amd Part I §7, Chap 59 of 2012
2013-S6766 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6766 TITLE OF BILL: An act to amend the tax law, in relation to empire state commercial production credit; and to amend part I of chapter 59 of the laws of 2012, amending the tax law, relating to extending the empire state commercial production tax credit; and to amend part V of chapter 62 of the laws of 2006 relating to the empire state commercial production tax credit, relating to the effectiveness thereof, in relation to the effectiveness thereof PURPOSE: This bill increases the amount of tax credit available to eligible production companies who film or record a qualified commercial in upstate New York and creates a new tax credit available to eligible post-production companies who perform work on a qualified commercial in upstate New York. SUMMARY OF PROVISIONS: Section 1 extends the tax credit for qualified commercial production companies to taxable years beginning before January first, two thousand seventeen. Section 2 amends section 28 of the tax law to increase the amount of credit available to eligible production companies to the product of
2013-S6766 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6766 I N S E N A T E March 7, 2014 ___________ Introduced by Sen. GALLIVAN -- 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 empire state commercial production credit; and to amend part I of chapter 59 of the laws of 2012, amending the tax law, relating to extending the empire state commercial production tax credit; and to amend part V of chapter 62 of the laws of 2006 relating to the empire state commercial production tax credit, relating to the effectiveness thereof, in relation to the effectiveness thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 1 of subdivision (a) of section 28 of the tax law, as amended by section 1 of part I of chapter 59 of the laws of 2012, is amended to read as follows: (1) A taxpayer which is a qualified commercial production company, or which is a sole proprietor of a qualified commercial production company, and which is subject to tax under article nine-A or twenty-two of this chapter, shall be allowed a credit against such tax, pursuant to the provisions referenced in subdivision (c) of this section, to be computed as provided in this section. Provided, however, to be eligible for such credit, at least seventy-five percent of the production costs (excluding [post production] POST-PRODUCTION costs) paid or incurred directly and predominantly in the actual filming or recording of the qualified commercial must be costs incurred in New York state. The tax credit allowed pursuant to this section shall apply to taxable years beginning before January first, two thousand [fifteen] SEVENTEEN. S 2. Subparagraph (iii) of paragraph 2 of subdivision (a) of section 28 of the tax law, as amended by section 2 of part I of chapter 59 of the laws of 2012, is amended to read as follows: (iii) The state annually will disburse three million of the total seven million in tax credits to all eligible production companies who film or record a qualified commercial outside of the metropolitan commu- ter transportation district as defined in section twelve hundred sixty- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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