Senate Bill S6997B

2023-2024 Legislative Session

Relates to the eligibility criteria for the digital gaming tax credit

download bill text pdf

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-S6997 - Details

See Assembly Version of this Bill:
A7126
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §45, Tax L

2023-S6997 - 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-S6997 - Sponsor Memo

2023-S6997 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6997
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 16, 2023
                                ___________
 
 Introduced  by  Sen. BRESLIN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 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

2023-S6997A - Details

See Assembly Version of this Bill:
A7126
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §45, Tax L

2023-S6997A - 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-S6997A - Sponsor Memo

2023-S6997A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6997--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 16, 2023
                                ___________
 
 Introduced  by  Sen. BRESLIN -- read twice and ordered printed, and when
   printed to be committed to the Committee  on  Budget  and  Revenue  --
   recommitted  to the Committee on Budget and Revenue 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 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.
                                                            LBD11262-03-4
              

co-Sponsors

2023-S6997B (ACTIVE) - Details

See Assembly Version of this Bill:
A7126
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §45, Tax L

2023-S6997B (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-S6997B (ACTIVE) - Sponsor Memo

2023-S6997B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6997--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 16, 2023
                                ___________
 
 Introduced  by  Sens. BRESLIN, COONEY -- read twice and ordered printed,
   and when printed to be committed to the Committee on Budget and Reven-
   ue -- recommitted to the Committee on Budget and Revenue in accordance
   with Senate Rule 6, sec. 8  --  committee  discharged,  bill  amended,
   ordered  reprinted  as  amended  and  recommitted to said committee --
   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. 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
 treated as having been applied for on the first day  of  the  subsequent
 taxable year.
   (c) Definitions. As used in this section:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11262-06-4
              

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