Assembly Bill A7126B

2023-2024 Legislative Session

Relates to the eligibility criteria for the digital gaming tax credit

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Sponsored By

Current 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

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Bill Amendments

2023-A7126 - Details

See Senate Version of this Bill:
S6997
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §45, Tax L

2023-A7126 - Summary

Amends the eligibility criteria for game development companies by changing the yearly timeframe structure, lowering the dollar threshold per production, and removing the in-state cost incurred threshold to accurately fit current digital gaming industry models.

2023-A7126 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7126
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 11, 2023
                                ___________
 
 Introduced by M. of A. McDONALD -- read once and referred to the Commit-
   tee on Ways and Means
 
 AN ACT to amend the tax law, in relation to the eligibility criteria for
   the digital gaming tax credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivisions (b) and (c) of section 45 of the tax  law,  as
 added  by  section  1  of  part OO of chapter 59 of the laws of 2022, is
 amended to read as follows:
   (b) Allocation of credit. The aggregate amount of tax credits  allowed
 under  this section, subdivision fifty-five of section two hundred ten-B
 and subsection (nnn) of section six hundred six of this chapter  in  any
 taxable  year  shall be five million dollars. Such credit shall be allo-
 cated by the department of economic development  in  order  of  priority
 based  upon  the date of filing an application for allocation of digital
 gaming media production credit with  such  office.  AN  APPLICANT  SHALL
 SUBMIT  AN  ANNUAL APPLICATION WHICH SHALL INCLUDE ALL QUALIFIED DIGITAL
 GAMING MEDIA PRODUCTIONS FOR THE TAXABLE YEAR ALONG WITH AN ESTIMATE  OF
 THE  DIGITAL  GAMING  MEDIA  PRODUCTION  COSTS. THE APPLICATION SHALL BE
 SUBMITTED NO LATER THAN THE END OF THE APPLICABLE TAXABLE YEAR.  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 taxable year.
   (c) Definitions. As used in this section:
   (1)  "Qualified digital gaming media production" means: (i) a website,
 the digital media production costs of which are paid or incurred  predo-
 minately  in  connection  with  (A)  video  simulation, animation, text,
 audio, graphics or similar gaming related property embodied  in  digital
 format,  and  (B)  interactive  features of digital gaming (e.g., links,
 message boards, communities or  content  manipulation);  (ii)  video  or
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11262-01-3

co-Sponsors

multi-Sponsors

2023-A7126A - Details

See Senate Version of this Bill:
S6997
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §45, Tax L

2023-A7126A - Summary

Amends the eligibility criteria for game development companies by changing the yearly timeframe structure, lowering the dollar threshold per production, and removing the in-state cost incurred threshold to accurately fit current digital gaming industry models.

2023-A7126A - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7126--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 11, 2023
                                ___________
 
 Introduced by M. of A. McDONALD -- read once and referred to the Commit-
   tee  on  Ways  and  Means  -- recommitted to the Committee on Ways and
   Means in  accordance  with  Assembly  Rule  3,  sec.  2  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee

 AN ACT to amend the tax law, in relation to the eligibility criteria for
   the digital gaming tax credit
 
   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) and subdivision (b) and  (c)
 of  section 45 of the tax law, as added by section 1 of part OO of chap-
 ter 59 of the laws of 2022, are amended to read as follows:
   (1) A taxpayer which is  a  digital  gaming  media  production  entity
 engaged  in  qualified digital gaming media production, or who is a sole
 proprietor of or a member of a partnership, which is  a  digital  gaming
 media  production  entity  engaged  in  qualified  digital  gaming media
 production, and is subject to tax under article nine-A or twenty-two  of
 this  chapter, shall be allowed a credit against such tax to be computed
 as provided herein for taxable  years  beginning  on  or  after  January
 first,  two thousand twenty-three and before January first, two thousand
 [twenty-eight] THIRTY.
   (b) Allocation of credit. The aggregate amount of tax credits  allowed
 under  this section, subdivision fifty-five of section two hundred ten-B
 and subsection (nnn) of section six hundred six of this chapter  in  any
 taxable  year  shall  be [five] ONE HUNDRED million dollars. Such credit
 shall be allocated by the department of economic development in order of
 priority based upon the date of filing an application for allocation  of
 digital  gaming  media  production credit with such office. AN APPLICANT
 SHALL SUBMIT AN ANNUAL APPLICATION WHICH  SHALL  INCLUDE  ALL  QUALIFIED
 DIGITAL  GAMING  MEDIA  PRODUCTIONS  FOR  THE TAXABLE YEAR ALONG WITH AN
 ESTIMATE OF THE DIGITAL GAMING MEDIA PRODUCTION COSTS.  THE  APPLICATION
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11262-02-4

co-Sponsors

multi-Sponsors

2023-A7126B (ACTIVE) - Details

See Senate Version of this Bill:
S6997
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §45, Tax L

2023-A7126B (ACTIVE) - Summary

Amends the eligibility criteria for game development companies by changing the yearly timeframe structure, lowering the dollar threshold per production, and removing the in-state cost incurred threshold to accurately fit current digital gaming industry models.

2023-A7126B (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7126--B
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 11, 2023
                                ___________
 
 Introduced  by  M.  of A. McDONALD, SEAWRIGHT, LUNSFORD, STIRPE, TAYLOR,
   BRABENEC, SLATER, BLUMENCRANZ, BRONSON, BICHOTTE HERMELYN,  DAVILA  --
   Multi-Sponsored  by -- M. of A. LEVENBERG -- read once and referred to
   the Committee on Ways and Means -- recommitted  to  the  Committee  on
   Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee -- recommitted to the Committee on Ways and Means in
   accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 AN ACT to amend the tax law, in relation to the eligibility criteria for
   the digital gaming tax credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivisions (b) and (c) of section 45 of the tax  law,  as
 added  by  section  1  of part OO of chapter 59 of the laws of 2022, are
 amended to read as follows:
   (b) Allocation of credit. The aggregate amount of tax credits  allowed
 under  this section, subdivision fifty-five of section two hundred ten-B
 and subsection (nnn) of section six hundred six of this chapter  in  any
 taxable  year  shall be five million dollars. Such credit shall be allo-
 cated by the department of economic development  in  order  of  priority
 based  upon  the date of filing an application for allocation of digital
 gaming media production credit with  such  office.  AN  APPLICANT  SHALL
 SUBMIT  AN  ANNUAL APPLICATION WHICH SHALL INCLUDE ALL QUALIFIED DIGITAL
 GAMING MEDIA PRODUCTIONS FOR THE TAXABLE YEAR ALONG WITH AN ESTIMATE  OF
 THE  DIGITAL  GAMING  MEDIA  PRODUCTION  COSTS.  THE  APPLICATION CAN BE
 SUBMITTED NO EARLIER THAN NINETY DAYS PRIOR TO  THE  FIRST  DAY  OF  THE
 APPLICABLE  TAXABLE  YEAR.  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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11262-07-4

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