§ 242. Reports on the digital gaming industries in New York. 1. The
department of economic development shall file a report on a biannual
basis with the director of the division of the budget and the
chairpersons of the assembly ways and means committee and senate finance
committee. The report shall be filed no later than thirty days before
the mid-point and the end of the state fiscal year. The first report
shall cover the calendar half year that begins on January first, two
thousand twenty-four. Each report must contain the following information
for the covered calendar half year:

(a) the total dollar amount of credits allocated pursuant to section
forty-five of the tax law during the half year, broken down by month;

(b) the number of digital gaming projects, which have been allocated
tax credits of less than one million dollars per project, and the total
dollar amount of credits allocated to those projects;

(c) the number of digital gaming projects, which have been allocated
tax credits of more than one million dollars, and the total dollar
amount of credits allocated to those projects;

(d) a list of each eligible digital gaming project and for each of
those projects, (i) the estimated number of employees associated with
the project, (ii) the estimated qualifying costs for the project, (iii)
the estimated total costs of the project, (iv) the credit eligible
employee hours for each project, and (v) total wages for such credit
eligible employee hours for each project; and

(e) (i) the name of each taxpayer allocated a tax credit for each
project and the county of residence or incorporation of such taxpayer
or, if the taxpayer does not reside or is not incorporated in New York,
the state of residence or incorporation; however, if the taxpayer claims
a tax credit because the taxpayer is a member of a limited liability
company, a partner in a partnership or a shareholder in a subchapter S
corporation, the name of each limited liability company, partnership or
subchapter S corporation earning any of those tax credits must be
included in the report instead of information about the taxpayer
claiming the tax credit, (ii) the amount of tax credit allocated to each
taxpayer; provided however, if the taxpayer claims a tax credit because
the taxpayer is a member of a limited liability company, a partner in a
partnership or a shareholder in a subchapter S corporation, the amount
of tax credit earned by each entity must be included in the report
instead of information about the taxpayer claiming the tax credit, and
(iii) information identifying the project associated with each taxpayer
for which a tax credit was claimed under section forty-five of the tax
law.

2. The department of economic development shall file a report on a
triennial basis with the director of the division of the budget and the
chairpersons of the assembly ways and means committee and senate finance
committee. The first report shall be filed no later than March first,
two thousand twenty-five. The report must be prepared by an independent
third party auditor and include: (a) information regarding the empire
state digital gaming production credit program including the efficiency
of operations, reliability of financial reporting, compliance with laws
and regulations and distribution of assets and funds; (b) an economic
impact study prepared by an independent third party of the program; and
(c) any other information or statistical information that the
commissioner of economic development deems to be useful in analyzing the
effects of the programs.

3. In the event that this tax credit program is no longer legally in
effect, the department shall not be required to produce the reports
referenced in subdivisions one and two of this section.