Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 12, 2016 |
print number 1297a |
Jan 12, 2016 |
amend and recommit to investigations and government operations |
Jan 06, 2016 |
referred to investigations and government operations |
Jan 09, 2015 |
referred to investigations and government operations |
Senate Bill S1297A
2015-2016 Legislative Session
Sponsored By
(D, WF) 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
Bill Amendments
2015-S1297 - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §24, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S7023
2013-2014: S115
2017-2018: S430
2015-S1297 - Sponsor Memo
BILL NUMBER:S1297 TITLE OF BILL: An act to amend the tax law, in relation to the aggregate annual amount of the empire state film production credit against state taxes PURPOSE: Provides for an annual increase in the aggregate annual amount of empire state film production credits taken, based upon inflation SUMMARY OF PROVISIONS: Section 1 of the bill amends paragraph 4 of subdivision e of section 24 of the tax law relating to the empire state film production credit, as added by chapter 268 of the laws of 2012, to provide for an annual aggregate amount of the Empire State Film Credits that may be taken against state taxes in 2015 and beyond, based on an inflation adjusted calculation of the amount provided in the final funded year of 2014. Section 2 establishes the effective date. JUSTIFICATION: The Empire State Film Production Tax Credit has been an unqualified
2015-S1297 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1297 2015-2016 Regular Sessions I N S E N A T E January 9, 2015 ___________ Introduced by Sen. PERALTA -- 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 the aggregate annual amount of the empire state film production credit against state taxes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 4 of subdivision (e) of section 24 of the tax law, as amended by section 3 of part B of chapter 59 of the laws of 2013, is amended to read as follows: (4) Additional pool 2 - The aggregate amount of tax credits allowed in subdivision (a) of this section shall be increased by an additional four hundred twenty million dollars in each year starting in two thousand ten through two thousand [nineteen] FIFTEEN, EXCEPT THAT IN TAX YEARS AFTER TWO THOUSAND FIFTEEN, SUCH AMOUNT SHALL BE ADJUSTED ANNUALLY ON THE FIRST OF JANUARY FOR INFLATION ACCORDING TO THE CONSUMER PRICE INDEX FOR ALL CONSUMERS, ALL ITEMS, NORTHEAST REGION, NOT SEASONALLY ADJUSTED, OF THE PREVIOUS YEAR, BUT IN NO EVENT SHALL SUCH AMOUNT BE LESS THAN FOUR HUNDRED TWENTY MILLION DOLLARS; provided however, seven million dollars of the annual allocation shall be available for the empire state film post production credit pursuant to section thirty-one of this article in two thousand thirteen and two thousand fourteen and twenty-five million dollars of the annual allocation shall be available for the empire state film post production credit pursuant to section thirty-one of this arti- cle in each year starting in two thousand fifteen through two thousand nineteen. This amount shall be allocated by the governor's office for motion picture and television development among taxpayers in accordance with subdivision (a) of this section. If the commissioner of economic development determines that the aggregate amount of tax credits avail- able from additional pool 2 for the empire state film production tax credit have been previously allocated, and determines that the pending EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00350-01-5
2015-S1297A (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §24, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S7023
2013-2014: S115
2017-2018: S430
2015-S1297A (ACTIVE) - Sponsor Memo
BILL NUMBER: S1297A TITLE OF BILL : An act to amend the tax law, in relation to the aggregate annual amount of the empire state film production credit against state taxes PURPOSE : Provides for an annual increase in the aggregate annual amount of empire state film production credits taken, based upon inflation SUMMARY OF PROVISIONS : Section 1 of the bill amends paragraph 4 of subdivision e of section 24 of the tax law relating to the empire state film production credit, as added by chapter 268 of the laws of 2012, to provide for an annual aggregate amount of the Empire State Film Credits that may be taken against state taxes in 2016 and beyond, based on an inflation adjusted calculation of the amount provided in the final funded year of 2014. Section 2 establishes the effective date. JUSTIFICATION : The Empire State Film Production Tax Credit has been an unqualified success for the State of New York, both culturally and financially.
2015-S1297A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1297--A 2015-2016 Regular Sessions I N S E N A T E January 9, 2015 ___________ Introduced by Sen. PERALTA -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- recommitted to the Committee on Investigations and Government Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to the aggregate annual amount of the empire state film production credit against state taxes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 4 of subdivision (e) of section 24 of the tax law, as amended by section 3 of part B of chapter 59 of the laws of 2013, is amended to read as follows: (4) Additional pool 2 - The aggregate amount of tax credits allowed in subdivision (a) of this section shall be increased by an additional four hundred twenty million dollars in each year starting in two thousand ten through two thousand [nineteen] SIXTEEN, EXCEPT THAT IN TAX YEARS AFTER TWO THOUSAND SIXTEEN, SUCH AMOUNT SHALL BE ADJUSTED ANNUALLY ON THE FIRST OF JANUARY FOR INFLATION ACCORDING TO THE CONSUMER PRICE INDEX FOR ALL CONSUMERS, ALL ITEMS, NORTHEAST REGION, NOT SEASONALLY ADJUSTED, OF THE PREVIOUS YEAR, BUT IN NO EVENT SHALL SUCH AMOUNT BE LESS THAN FOUR HUNDRED TWENTY MILLION DOLLARS; provided however, seven million dollars of the annual allocation shall be available for the empire state film post production credit pursuant to section thirty-one of this article in two thousand thirteen and two thousand fourteen and twenty-five million dollars of the annual allocation shall be available for the empire state film post production credit pursuant to section thirty-one of this arti- cle in each year starting in two thousand fifteen through two thousand nineteen. This amount shall be allocated by the governor's office for motion picture and television development among taxpayers in accordance with subdivision (a) of this section. If the commissioner of economic EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00350-02-6
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