STATE OF NEW YORK
________________________________________________________________________
8465
IN SENATE
May 8, 2018
___________
Introduced by Sen. GOLDEN -- 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 extending the empire state
commercial 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 1 of subdivision (a) of section 28 of the tax
2 law, as amended by section 1 of part J of chapter 60 of the laws of
3 2016, is amended to read as follows:
4 (1) A taxpayer which is a qualified commercial production company, or
5 which is a sole proprietor of a qualified commercial production company,
6 and which is subject to tax under article nine-A or twenty-two of this
7 chapter, shall be allowed a credit against such tax, pursuant to the
8 provisions referenced in subdivision (c) of this section, to be computed
9 as provided in this section. Provided, however, to be eligible for such
10 credit, at least seventy-five percent of the production costs (excluding
11 post production costs) paid or incurred directly and predominantly in
12 the actual filming or recording of the qualified commercial must be
13 costs incurred in New York state. The tax credit allowed pursuant to
14 this section shall apply to taxable years beginning before January
15 first, two thousand [nineteen] twenty-four.
16 § 2. Paragraph (c) of subdivision 23 of section 210-B of the tax law,
17 as amended by section 2 of part J of chapter 60 of the laws of 2016, is
18 amended to read as follows:
19 (c) Expiration of credit. The credit allowed under this subdivision
20 shall not be applicable to taxable years beginning on or after January
21 first, two thousand [nineteen] twenty-four.
22 § 3. Paragraph 1 of subsection (jj) of section 606 of the tax law, as
23 amended by section 3 of part J of chapter 60 of the laws of 2016, is
24 amended to read as follows:
25 (1) Allowance of credit. A taxpayer that is eligible pursuant to the
26 provisions of section twenty-eight of this chapter shall be allowed a
27 credit to be computed as provided in such section against the tax
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD15804-01-8
S. 8465 2
1 imposed by this article. The tax credit allowed pursuant to this section
2 shall apply to taxable years beginning before January first, two thou-
3 sand [nineteen] twenty-four.
4 § 4. This act shall take effect immediately.
