NY State Senate Bill 2017-S8032

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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 21, 2018	referred to investigations and government operations

co-Sponsors

2017-S8032 (ACTIVE) - Details

See Assembly Version of this Bill:: A11096
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Add §24-b, amd §§210-B & 606, Tax L
Versions Introduced in 2019-2020 Legislative Session:: S5864, A6683

2017-S8032 (ACTIVE) - Summary

Provides a television writers' and directors' fees and salaries credit; provides that to be eligible the writer or director is a minority group member, or a woman, and provides, further, that any writer or director who is a profit participant in the qualified production shall not be eligible.

2017-S8032 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S8032

SPONSOR: ALCANTARA
 
TITLE OF BILL:  An act to amend the tax law, in relation to a tele-
vision writers' and directors' fees and salaries credit

 
PURPOSE:

This bill would create a tax credit to incentive the hiring of women and
minority television writers and directors by companies participating in
New York's film tax credit program.

 
SUMMARY OF PROVISIONS:

Section 1 adds a new section 24-b to the tax law creating the television
writers' and directors' fees and salaries credit.  Qualifying taxpayers
would be eligible of 30% of the qualifying salaries and fees paid for
hiring a minority or woman television writer or director who works or
resides in New York. The credit is capped at $150,000 in salaries or
fees per person, and $50,000 for such fees or salaries for work done for
a single episode of television. The aggregate amount of the credit is

capped at $5 million. The commissioner of economic development is
mandated to promulgate regulations for the allocation of this credit.
The department of economic development is also required to submit an
annual report evaluating the effectiveness of the credit, including
information on the number of credits claimed, and the impact the credit
has had on employment. The department is also to make recommendations on
whether to continue to the program or ways to make it more effective.

Section 2 amends § 210-B of the tax law by adding a new subdivision 53
adding the credit to the list of credits that can be claimed under the
corporate franchise tax.

Section 3 amends § 606 of the tax law by adding a new subsection (v)
adding the credit to the list of credits that can be claimed under the
personal income tax.

Section 4 amends § 606 of the tax law by adding a new clause (xlix) that
adds this credit to the innumerate list of credits that can be claimed
against the personal income tax.

Section 5 provides that the act shall take effect immediately and shall
apply to tax years beginning on or after January 1, 2019.

 
JUSTIFICATION:

The Television production industry continues to grow in New York thanks
to the success of the New York State Film Tax Credit.  According to the
Mayor's Office of Media and Entertainment, the 2015-16 television season
saw 52 prime time television series produced in New York City, an
increase of 13% over the previous television season. Shows for broad-
cast, cable, and digital networks are increasingly choosing New York as
the location to film.

This increase in the number of television productions in New York gives
the state the ability to bring about significant change to the industry
by implementing policies aimed at combating issues of diversity plaguing
the television industry.

Writers and directors have critical control over the creative direction
that a television series will take. These professionals craft the
stories that people come to enjoy on their screens and their life expe-
riences play a role in driving their creative decisions. A lack of
diversity in the backgrounds of the writing and directing staffs will
translate to a similar lack of diversity in the stories told on-screen.
Unfortunately, there remain serious issues of diversity in the tele-
vision industry.

According to data from the Writers Guild of America, East, in the past
five years, of all the individuals hired to be credited writers in tele-
vision series in the area they represent, which includes New York, only
27% of the individuals were women and only 14% were minority members.
These numbers are in line with findings from the Writers Guild, West,
which looked at the background of credited writers in television in
their region and found similarly dismal figures for their region. A
study from the Bunche Center found that for the 2014-15 television
season, a majority of television productions had writing staffs where
minority writers made up less than 10% of the writing staff.

The Directors Guild of America found a similar lack of diversity in
among the individuals hired to direct television episodes in the 2015-16
season. The Guild's latest Episodic Television Director Diversity Report
showed that Caucasian males directed just over two-thirds of all tele-
vision episodes shown that year. Minority males directed just 16% of
episodes, Caucasian females directed 14% and minority female directed
just 3% of television episodes that year. A Senate report in 2017 found
that New York productions also lacked diversity behind the director's
camera. Of the 328 episodes of television filmed for the 22 New York
filmed television series examined, Caucasian males directed 70% of
episodes, Minority males directed only 11% of episodes, Caucasian
females directed 16% of episodes, and Minority females directed only 4%
of episodes.

The television writers' and directors' salaries and fees credit is aimed
at helping to combat this lack of diversity by creating an incentive for
companies to give women and minority writers and directors a chance to
showcase their skills and building up their resume.

 
LEGISLATIVE HISTORY:

New bill

 
FISCAL IMPLICATIONS:

$5 million cost to the State.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to taxable years
beginning on or after January 1, 2019.

2017-S8032 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8032
 
                             I N  S E N A T E
 
                              March 21, 2018
                                ___________
 
 Introduced by Sen. ALCANTARA -- 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 a television writers' and
   directors' fees and salaries credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The tax law is amended by adding a new section 24-b to read
 as follows:
   §  24-B.  TELEVISION WRITERS' AND DIRECTORS' FEES AND SALARIES CREDIT.
 (A)(1) A TAXPAYER WHICH IS A QUALIFIED FILM  PRODUCTION  COMPANY,  OR  A
 QUALIFIED  INDEPENDENT  FILM  PRODUCTION  COMPANY,  OR  WHICH  IS A SOLE
 PROPRIETOR OF OR A MEMBER OF A PARTNERSHIP WHICH  IS  A  QUALIFIED  FILM
 PRODUCTION  COMPANY  OR A QUALIFIED INDEPENDENT FILM PRODUCTION COMPANY,
 AND WHICH IS SUBJECT TO TAX UNDER ARTICLES 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 HEREINAFTER PROVIDED.
   (2) THE AMOUNT OF THE CREDIT SHALL BE THE PRODUCT (OR PRO  RATA  SHARE
 OF  THE  PRODUCT,  IN  THE  CASE OF A MEMBER OF A PARTNERSHIP) OF THIRTY
 PERCENT AND THE QUALIFIED TELEVISION WRITERS' AND  DIRECTORS'  FEES  AND
 SALARIES  COSTS  PAID OR INCURRED IN THE PRODUCTION OF A QUALIFIED FILM,
 PROVIDED THAT: (I) THE CREDIT AMOUNT SHALL  NOT  EXCEED  FIFTY  THOUSAND
 DOLLARS  FOR QUALIFIED TELEVISION WRITERS' AND DIRECTORS' FEES AND SALA-
 RIES CLAIMED FOR SUCH EXPENSES INCURRED FOR THE EMPLOYMENT  OF  ANY  ONE
 SPECIFIC  WRITER  OR  DIRECTOR FOR THE PRODUCTION OF A SINGLE TELEVISION
 PILOT OR A SINGLE EPISODE OF A TELEVISION SERIES, AND  (II)  THE  CREDIT
 AMOUNT SHALL NOT EXCEED ONE HUNDRED FIFTY THOUSAND DOLLARS FOR QUALIFIED
 TELEVISION  WRITERS'  AND  DIRECTORS' FEES AND SALARIES CLAIMED FOR SUCH
 EXPENSES INCURRED FOR THE EMPLOYMENT  OF  ANY  ONE  SPECIFIC  WRITER  OR
 DIRECTOR.  THE CREDIT SHALL BE ALLOWED FOR THE TAXABLE YEAR IN WHICH THE
 PRODUCTION OF SUCH QUALIFIED FILM IS COMPLETED.
   (3) NO QUALIFIED TELEVISION WRITERS' AND DIRECTORS' FEES AND  SALARIES
 USED  BY  A TAXPAYER EITHER AS THE BASIS FOR THE ALLOWANCE OF THE CREDIT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD14849-03-8

 S. 8032                             2
 
 PROVIDED FOR PURSUANT TO THIS SECTION OR USED IN THE CALCULATION OF  THE
 CREDIT  PROVIDED PURSUANT TO THIS SECTION SHALL BE USED BY SUCH TAXPAYER
 TO CLAIM ANY OTHER CREDIT ALLOWED PURSUANT TO THIS CHAPTER.
   (B)  DEFINITIONS.  AS  USED IN THIS SECTION, THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS:
   (1) "QUALIFIED FILM PRODUCTION COMPANY" IS A CORPORATION, PARTNERSHIP,
 LIMITED PARTNERSHIP, OR OTHER ENTITY OR INDIVIDUAL WHICH OR WHO IS PRIN-
 CIPALLY ENGAGED IN THE PRODUCTION OF A QUALIFIED FILM AND  CONTROLS  THE
 QUALIFIED FILM DURING PRODUCTION.
   (2)  "QUALIFIED INDEPENDENT FILM PRODUCTION COMPANY" IS A CORPORATION,
 PARTNERSHIP, LIMITED PARTNERSHIP, OR OTHER ENTITY OR INDIVIDUAL, THAT OR
 WHO (I) IS PRINCIPALLY ENGAGED IN THE PRODUCTION  OF  A  QUALIFIED  FILM
 WITH  A  MAXIMUM  BUDGET  OF  FIFTEEN MILLION DOLLARS, (II) CONTROLS THE
 QUALIFIED FILM DURING PRODUCTION, AND (III) EITHER  IS  NOT  A  PUBLICLY
 TRADED  ENTITY, OR NO MORE THAN FIVE PERCENT OF THE BENEFICIAL OWNERSHIP
 OF WHICH IS OWNED, DIRECTLY OR INDIRECTLY, BY A PUBLICLY TRADED ENTITY.
   (3) "QUALIFIED FILM" MEANS A TELEVISION FILM, TELEVISION PILOT  AND/OR
 EACH  EPISODE  OF A TELEVISION SERIES, REGARDLESS OF THE MEDIUM BY MEANS
 OF WHICH THE FILM, PILOT OR EPISODE IS CREATED OR CONVEYED.
   (4) "QUALIFIED TELEVISION WRITERS' AND DIRECTORS' FEES  AND  SALARIES"
 MEANS: (I) SALARIES OR FEES PAID TO A WRITER OR DIRECTOR WHO RECEIVES AN
 ON-AIR  CREDIT; (II) FOR A NON-CREDITED WRITER, UP TO SEVENTY-FIVE THOU-
 SAND DOLLARS IN SALARIES OR FEES PER SERIES OF EPISODES.  PROVIDED  THAT
 IN  EACH  CASE,  SUCH  WRITER OR DIRECTOR IS A MINORITY GROUP MEMBER, AS
 DEFINED IN SUBDIVISION EIGHT OF SECTION THREE HUNDRED TEN OF THE  EXECU-
 TIVE  LAW, OR A WOMAN, AND PROVIDED, FURTHER, THAT SALARIES OR FEES PAID
 TO ANY WRITER OR DIRECTOR WHO IS A PROFIT PARTICIPANT IN  THE  QUALIFIED
 FILM SHALL NOT BE ELIGIBLE.
   (5)  "WRITER"  MEANS  A PERSON WHO IS: (I) ENGAGED BY A QUALIFIED FILM
 PRODUCTION COMPANY OR A QUALIFIED INDEPENDENT FILM PRODUCTION COMPANY TO
 WRITE LITERARY MATERIAL (INCLUDING MAKING CHANGES OR REVISIONS IN LITER-
 ARY MATERIAL), WHEN THE COMPANY HAS THE RIGHT BY CONTRACT TO DIRECT  THE
 PERFORMANCE  OF  PERSONAL SERVICES IN WRITING OR PREPARING SUCH MATERIAL
 OR IN MAKING  REVISIONS,  MODIFICATIONS  OR  CHANGES  THEREIN;  OR  (II)
 ENGAGED  BY  THE  COMPANY  AND  WHO  PERFORMS SERVICES (AT THE COMPANY'S
 DIRECTION OR WITH ITS CONSENT) IN WRITING  OR  PREPARING  SUCH  LITERARY
 MATERIAL  OR MAKING REVISIONS, MODIFICATIONS, OR CHANGES IN SUCH MATERI-
 AL; AND (III) WHO REPORTS TO WORK REGULARLY IN A WRITERS ROOM LOCATED IN
 THE STATE.
   (6) "LITERARY MATERIAL" SHALL BE DEEMED TO  INCLUDE  STORIES,  ADAPTA-
 TIONS,  TREATMENTS,  ORIGINAL TREATMENTS, SCENARIOS, CONTINUITIES, TELE-
 PLAYS, SCREENPLAYS, DIALOGUE, SCRIPTS, SKETCHES, PLOTS, OUTLINES, NARRA-
 TIVE SYNOPSES, ROUTINES, NARRATIONS, AND FORMATS.
   (7) "WRITERS ROOM" MEANS A ROOM OR  PHYSICAL  LOCATION  WHERE  WRITERS
 EMPLOYED BY A QUALIFIED FILM PRODUCTION COMPANY OR QUALIFIED INDEPENDENT
 FILM PRODUCTION COMPANY WRITE OR REVISE LITERARY MATERIALS UTILIZED IN A
 QUALIFIED FILM.
   (8)  "DIRECTOR" MEANS AN INDIVIDUAL EMPLOYED OR RETAINED TO DIRECT THE
 PRODUCTION, AS THE WORD "DIRECT" IS COMMONLY USED IN THE MOTION  PICTURE
 INDUSTRY,  AND  WHO  WOULD  BE  CLASSIFIED AS A DIRECTOR UNDER THE BASIC
 AGREEMENT IN PLACE BETWEEN THE ASSOCIATION OF MOTION PICTURE  AND  TELE-
 VISION  PRODUCERS AND THE DIRECTOR'S GUILD OF AMERICA AND WHO IS A RESI-
 DENT OF NEW YORK.
   (9) "PROFIT PARTICIPANT" IS AN INDIVIDUAL WHO  HAS  NEGOTIATED  FOR  A
 PERCENTAGE  OF  PROFITS  GENERATED  BY  A QUALIFIED FILM. PROFIT PARTIC-
 IPATION DOES NOT INCLUDE MONIES CONTRACTUALLY REQUIRED  BY  COLLECTIVELY

 S. 8032                             3
 
 BARGAINED  AGREEMENTS  FOR  REUSE OF A QUALIFIED FILM ON DIFFERENT PLAT-
 FORMS OVER TIME.
   (C)  CROSS-REFERENCES.  FOR  APPLICATION OF THE CREDIT PROVIDED FOR IN
 THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:
   (1) ARTICLE 9-A: SECTION 210-B: SUBDIVISION 53.
   (2) ARTICLE 22: SECTION 606: SUBSECTION (V).
   (D) NOTWITHSTANDING ANY PROVISION OF THIS CHAPTER, (1)  EMPLOYEES  AND
 OFFICERS  OF  THE  DEPARTMENT OF ECONOMIC DEVELOPMENT AND THE DEPARTMENT
 SHALL BE ALLOWED AND ARE DIRECTED  TO  SHARE  AND  EXCHANGE  INFORMATION
 REGARDING  THE CREDITS APPLIED FOR, ALLOWED, OR CLAIMED PURSUANT TO THIS
 SECTION AND TAXPAYERS WHO ARE APPLYING FOR CREDITS OR WHO  ARE  CLAIMING
 CREDITS, INCLUDING INFORMATION CONTAINED IN OR DERIVED FROM CREDIT CLAIM
 FORMS  SUBMITTED  TO  THE  DEPARTMENT AND APPLICATIONS FOR CERTIFICATION
 SUBMITTED TO THE DEPARTMENT OF ECONOMIC DEVELOPMENT, AND (2) THE COMMIS-
 SIONER AND THE COMMISSIONER OF THE DEPARTMENT  OF  ECONOMIC  DEVELOPMENT
 MAY RELEASE THE NAMES AND ADDRESSES OF ANY TAXPAYER CLAIMING THIS CREDIT
 AND  THE AMOUNT OF THE CREDIT EARNED BY THE TAXPAYER. PROVIDED, HOWEVER,
 IF A TAXPAYER CLAIMS THIS CREDIT BECAUSE IT IS A  MEMBER  OF  A  LIMITED
 LIABILITY  COMPANY  OR  A  PARTNER  IN A PARTNERSHIP, ONLY THE AMOUNT OF
 CREDIT EARNED BY THE ENTITY AND NOT THE AMOUNT OF CREDIT CLAIMED BY  THE
 TAXPAYER MAY BE RELEASED.
   (E) MAXIMUM AMOUNT OF CREDITS. (1) THE AGGREGATE AMOUNT OF TAX CREDITS
 ALLOWED  UNDER  THIS  SECTION,  SUBDIVISION  FIFTY-THREE  OF SECTION TWO
 HUNDRED TEN-B AND SUBSECTION (V) OF SECTION  SIX  HUNDRED  SIX  OF  THIS
 CHAPTER  IN ANY CALENDAR YEAR SHALL BE FIVE MILLION DOLLARS. SUCH AGGRE-
 GATE AMOUNT OF CREDITS SHALL BE ALLOCATED BY THE DEPARTMENT OF  ECONOMIC
 DEVELOPMENT  AMONG TAXPAYERS IN ORDER OF PRIORITY BASED UPON THE DATE OF
 FILING AN APPLICATION FOR ALLOCATION OF TELEVISION WRITERS'  AND  DIREC-
 TORS' FEES AND SALARIES CREDIT WITH SUCH DEPARTMENT. IF THE TOTAL AMOUNT
 OF  ALLOCATED  CREDITS  APPLIED  FOR  IN ANY PARTICULAR YEAR EXCEEDS THE
 AGGREGATE AMOUNT OF  TAX  CREDITS  ALLOWED  FOR  SUCH  YEAR  UNDER  THIS
 SECTION,  SUCH EXCESS SHALL BE TREATED AS HAVING BEEN APPLIED FOR ON THE
 FIRST DAY OF THE SUBSEQUENT YEAR.
   (2) THE COMMISSIONER OF ECONOMIC DEVELOPMENT,  AFTER  CONSULTING  WITH
 THE  COMMISSIONER, SHALL PROMULGATE REGULATIONS BY OCTOBER THIRTY-FIRST,
 TWO THOUSAND EIGHTEEN TO ESTABLISH PROCEDURES FOR THE ALLOCATION OF  TAX
 CREDITS  AS  REQUIRED BY SUBDIVISION (A) OF THIS SECTION. SUCH RULES AND
 REGULATIONS SHALL INCLUDE PROVISIONS DESCRIBING THE APPLICATION PROCESS,
 THE DUE DATES FOR SUCH APPLICATIONS, THE STANDARDS WHICH SHALL  BE  USED
 TO EVALUATE THE APPLICATIONS, THE DOCUMENTATION THAT WILL BE PROVIDED TO
 TAXPAYERS  TO  SUBSTANTIATE  TO THE DEPARTMENT THE AMOUNT OF TAX CREDITS
 ALLOCATED TO SUCH TAXPAYERS, AND SUCH OTHER PROVISIONS AS DEEMED  NECES-
 SARY  AND  APPROPRIATE.  NOTWITHSTANDING  ANY  OTHER  PROVISIONS  TO THE
 CONTRARY IN THE STATE ADMINISTRATIVE PROCEDURE ACT, SUCH RULES AND REGU-
 LATIONS MAY BE ADOPTED ON AN EMERGENCY BASIS IF NECESSARY TO  MEET  SUCH
 OCTOBER THIRTY-FIRST, TWO THOUSAND EIGHTEEN DEADLINE.
   (F)  THE DEPARTMENT OF ECONOMIC DEVELOPMENT SHALL SUBMIT TO THE GOVER-
 NOR, THE TEMPORARY PRESIDENT OF THE  SENATE,  AND  THE  SPEAKER  OF  THE
 ASSEMBLY,  AN  ANNUAL  REPORT  TO BE SUBMITTED ON FEBRUARY FIRST OF EACH
 YEAR EVALUATING THE EFFECTIVENESS OF THE TELEVISION WRITERS' AND  DIREC-
 TORS' FEES AND SALARIES TAX CREDIT PROVIDED BY THIS SECTION IN STIMULAT-
 ING  THE  GROWTH  OF  DIVERSITY  IN THE FILM INDUSTRY IN THE STATE. SUCH
 REPORT SHALL INCLUDE, BUT NEED NOT BE LIMITED TO, THE NUMBER  OF  QUALI-
 FIED   FILM  PRODUCTION  COMPANIES  AND/OR  QUALIFIED  INDEPENDENT  FILM
 PRODUCTION COMPANIES WHICH RECEIVED A TELEVISION WRITERS' AND DIRECTORS'
 FEES AND SALARIES CREDIT, THE CREDIT AMOUNTS CLAIMED BY  EACH  QUALIFIED

 S. 8032                             4
 
 FILM  PRODUCTION  COMPANY  AND/OR  QUALIFIED INDEPENDENT FILM PRODUCTION
 COMPANY, AS WELL AS THE IMPACT ON EMPLOYMENT  AND  THE  ECONOMY  OF  THE
 STATE. SUCH REPORT SHALL BE BASED ON DATA AVAILABLE FROM THE APPLICATION
 FILED  WITH  THE  DEPARTMENT  OF  ECONOMIC DEVELOPMENT FOR ALLOCATION OF
 TELEVISION WRITERS' AND DIRECTORS' FEES AND SALARIES CREDITS.   NOTWITH-
 STANDING ANY PROVISION OF LAW TO THE CONTRARY, THE INFORMATION CONTAINED
 IN  THE  REPORT SHALL BE PUBLIC INFORMATION. THE REPORT MAY ALSO INCLUDE
 ANY RECOMMENDATIONS OF CHANGES IN THE CALCULATION OR  ADMINISTRATION  OF
 THE  CREDIT,  AND  ANY  OTHER  RECOMMENDATION OF THE COMMISSIONER OF THE
 DEPARTMENT OF ECONOMIC DEVELOPMENT  REGARDING  CONTINUING  MODIFICATION,
 REPEAL  OF SUCH ACT, AND SUCH OTHER INFORMATION REGARDING THE ACT AS THE
 COMMISSIONER OF THE DEPARTMENT OF ECONOMIC DEVELOPMENT MAY  FEEL  USEFUL
 AND APPROPRIATE.
   §  2. Section 210-B of the tax law is amended by adding a new subdivi-
 sion 53 to read as follows:
   53. TELEVISION WRITERS' AND DIRECTORS' FEES AND SALARIES CREDIT.   (A)
 ALLOWANCE  OF  CREDIT.  A  TAXPAYER  WHO IS ELIGIBLE PURSUANT TO SECTION
 TWENTY-FOUR-B OF THIS CHAPTER SHALL BE ALLOWED A CREDIT TO  BE  COMPUTED
 AS PROVIDED IN SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
 FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO  LESS
 THAN  THE  AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D)  OF SUBDIVISION ONE OF
 SECTION TWO HUNDRED TEN OF THIS ARTICLE. PROVIDED, HOWEVER, THAT IF  THE
 AMOUNT  OF  THE  CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE
 YEAR REDUCES THE TAX TO SUCH AMOUNT OR IF THE  TAXPAYER  OTHERWISE  PAYS
 TAX BASED ON THE FIXED DOLLAR MINIMUM AMOUNT, THE EXCESS SHALL BE TREAT-
 ED  AS  AN  OVERPAYMENT  OF TAX TO BE CREDITED OR REFUNDED IN ACCORDANCE
 WITH THE PROVISIONS OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS  CHAPTER.
 PROVIDED, FURTHER, THE PROVISIONS OF SUBSECTION (C) OF SECTION ONE THOU-
 SAND  EIGHTY-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE
 PAID THEREON.
   § 3. Section 606 of the tax law is amended by adding a new  subsection
 (v) to read as follows:
   (V)  TELEVISION WRITERS' AND DIRECTORS' FEES AND SALARIES CREDIT.  (1)
 ALLOWANCE OF CREDIT. A TAXPAYER WHO  IS  ELIGIBLE  PURSUANT  TO  SECTION
 TWENTY-FOUR-B  OF  THIS CHAPTER SHALL BE ALLOWED A CREDIT TO BE COMPUTED
 AS PROVIDED IN SUCH SECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED OR REFUNDED AS PROVIDED IN SECTION SIX  HUNDRED  EIGHTY-SIX  OF  THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   §  4. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
 of the tax law is amended by adding a  new  clause  (xlix)  to  read  as
 follows:
 
 (XLIX) TELEVISION WRITERS'            AMOUNT OF CREDIT FOR THE SUM OF
 AND DIRECTORS' FEES AND SALARIES      QUALIFIED TELEVISION WRITERS' AND
 CREDIT UNDER SUBSECTION (V)           DIRECTORS' SALARIES CREDIT
                                       UNDER SUBDIVISION FIFTY-THREE OF
                                       SECTION TWO HUNDRED TEN-B
 
   §  5. This act shall take effect immediately, and shall apply to taxa-
 ble years beginning on or after January 1, 2019.

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Senate Bill S8032

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

co-Sponsors

2017-S8032 (ACTIVE) - Details

2017-S8032 (ACTIVE) - Summary

2017-S8032 (ACTIVE) - Sponsor Memo

2017-S8032 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S8032

Share this bill

Sponsored By

Marisol Alcantara

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

co-Sponsors

Luis R. Sepúlveda

2017-S8032 (ACTIVE) - Details

2017-S8032 (ACTIVE) - Summary

2017-S8032 (ACTIVE) - Sponsor Memo

2017-S8032 (ACTIVE) - Bill Text download pdf

Comments