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A02042 Summary:

BILL NOA02042
 
SAME ASSAME AS S02852
 
SPONSORLentol
 
COSPNSR
 
MLTSPNSR
 
Amd 24, Tax L
 
Authorizes documentary films to be qualified films for inclusion in the empire state film production tax credit.
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A02042 Actions:

BILL NOA02042
 
01/17/2017referred to ways and means
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A02042 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A2042
 
SPONSOR: Lentol
  TITLE OF BILL: An act to amend the tax law, in relation to the empire state film production tax credit   PURPOSE OR GENERAL IDEA OF BILL: To make documentaries a "Qualified Film" for the purposes of section 24 of the, tax law.   SUMMARY OF SPECIFIC PROVISIONS: Paragraph 3 of subdivision (b) of section 24 of the tax law, as added by section 1 of part B of chapter 59 of the laws of 2013, is amended.   JUSTIFICATION: Documentaries have been excluded from NYS film production tax credit. Yet, they require resources and effort of similar scale as the films that the tax credit covers. This bill will make it more affordable for documentary film takers to work in New York State.   PRIOR LEGISLATIVE HISTORY: A.8926 of 2012 A.1578 of 2013-14 A.A671-A of 2015-16   FISCAL IMPLICATIONS: none   EFFECTIVE DATE: Immediately and shall apply to taxable years beginning on or after Janu- ary 1, 2017.
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A02042 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          2042
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 17, 2017
                                       ___________
 
        Introduced by M. of A. LENTOL -- read once and referred to the Committee
          on Ways and Means
 
        AN  ACT  to  amend  the  tax  law,  in relation to the empire state film
          production tax credit
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Paragraph  3  of subdivision (b) of section 24 of the tax
     2  law, as amended by section 1 of part B of chapter  59  of  the  laws  of
     3  2013, is amended to read as follows:
     4    (3)  "Qualified  film"  means  a feature-length film, television film,
     5  relocated television  production,  documentary  film,  television  pilot
     6  and/or  each episode of a television series, regardless of the medium by
     7  means of which the film, pilot or episode is created or conveyed. "Qual-
     8  ified film" shall not include (i) a [documentary film,] news or  current
     9  affairs  program,  interview  or  talk program, "how-to" (i.e., instruc-
    10  tional) film or program, film or program consisting primarily  of  stock
    11  footage,  sporting event or sporting program, game show, award ceremony,
    12  film or program intended primarily for industrial, corporate or institu-
    13  tional end-users, fundraising film  or  program,  daytime  drama  (i.e.,
    14  daytime  "soap  opera"), commercials, music videos or "reality" program,
    15  or (ii) a production for which records are required under  section  2257
    16  of  title  18,  United States code, to be maintained with respect to any
    17  performer in such production  (reporting  of  books,  films,  etc.  with
    18  respect to sexually explicit conduct).
    19    § 2. This act shall take effect immediately and shall apply to taxable
    20  years beginning on or after January 1, 2017.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03402-01-7
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