Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 06, 2010 |
referred to ways and means |
Jun 09, 2009 |
referred to ways and means |
Assembly Bill A8805
2009-2010 Legislative Session
Sponsored By
LENTOL
Archive: Last Bill Status - In Assembly 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
co-Sponsors
Herman D. Farrell
Steven Englebright
Michael DenDekker
Joseph Morelle
2009-A8805 (ACTIVE) - Details
2009-A8805 (ACTIVE) - Sponsor Memo
BILL NUMBER:A8805 TITLE OF BILL: An act to amend the tax law and part P of chapter 60 of the laws of 2004, amending the tax law relating to the empire state film production credit, in relation to authorizing additional tax credits for certain costs incurred in film and television productions in a city having a population of one million or more PURPOSE: This legislation would ensure the continued growth of the film production industry in New York City through 2011. SUMMARY OF PROVISIONS: Section 1 of this bill would amend Tax Law 51201-a(b), the section that authorizes the City of New York to amend its General Corporation Tax ("GCT") and its Unincorporated Business Tax ("UBT") with respect to the Empire State Film Production Credit, to add the term "qualified independent film production company", which is defined therein, to the category of taxpayer's entitled to the credit. Section 2 of the bill would amend section 7(b)of part P of Chapter 60 of the Laws of 2004, as amended, to increase the aggregate amount of the tax credits allowed by the City of New York to be increased by an addi- tional $24 million a year in 2009, 2010 and 2011. Such additional credit amounts authorized may not be claimed by a taxpayer before taxable years beginning on or after January 1, 2011. Further notwithstanding the year to which such additional credits are allocated by the Mayor's film office, only $24 million can be claimed in a given year. Credits author-
2009-A8805 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8805 2009-2010 Regular Sessions I N A S S E M B L Y June 9, 2009 ___________ Introduced by M. of A. LENTOL, FARRELL, ENGLEBRIGHT, DenDEKKER, MORELLE, GIANARIS, V. LOPEZ, TITONE -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law and part P of chapter 60 of the laws of 2004, amending the tax law relating to the empire state film production credit, in relation to authorizing additional tax credits for certain costs incurred in film and television productions in 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: Section 1. Subdivision (b) of section 1201-a of the tax law, as amended by section 5 of part Y of chapter 62 of the laws of 2006, is amended to read as follows: (b) Empire state film production credit. Any city in this state having a population of one million or more, acting through its local legisla- tive body, is hereby authorized to adopt and amend local laws to allow a credit against the general corporation tax and the unincorporated busi- ness tax imposed pursuant to the authority of chapter seven hundred seventy-two of the laws of nineteen hundred sixty-six which shall be substantially identical to the credit allowed under section twenty-four of this chapter, except that (A) the percentage of qualified production costs used to calculate such credit shall be five percent, (B) whenever such section twenty-four references the state, such words shall be read as referencing the city, (C) such credit shall be allowed only to a taxpayer which is a qualified film production company OR QUALIFIED INDE- PENDENT FILM PRODUCTION COMPANY, and (D) the effective date of such credit shall be July first, two thousand six. Such credit shall be applied in a manner consistent with the credit allowed under subdivision thirty-six of section two hundred ten of this chapter except as may be necessary to take into account differences between the general corpo- ration tax and the unincorporated business tax. A "QUALIFIED INDEPEND- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14216-01-9
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