Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to investigations and government operations |
Jan 04, 2017 |
referred to investigations and government operations |
Senate Bill S430
2017-2018 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
2017-S430 (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
2015-2016: S1297
2017-S430 (ACTIVE) - Sponsor Memo
BILL NUMBER: S430 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
2017-S430 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 430 2017-2018 Regular Sessions I N S E N A T E (PREFILED) January 4, 2017 ___________ 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 1-a of part P of chapter 60 of the laws of 2016, 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] SEVENTEEN, EXCEPT THAT IN TAX YEARS AFTER TWO THOUSAND SEVENTEEN, 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 arti- cle 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 article 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 available from additional pool 2 for the empire state film production EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.