NY A11579

Amends the Empire State Film Production Credit to restrict eligibility to qualified film production companies that are not eligible for the credit under Section 24 of the Tax Article.

Removes the definition of "film production company" and renumbers remaining definitions for post production costs, post production facility, and qualified post production facility.

Establishes aggregate tax credit caps tied to Section 7 of Part P of Chapter 60 of the Laws of 2004 and allocates credits through the Governor's Office for Motion Picture and Television Development.

Designates up to $7 million annually from the Additional Pool 2 allocation for the Empire State Film Post Production Credit, with the pool providing $420 million in credits for each year from 2010 through 2014.

Requires films receiving Additional Pool 2 funds to report their allocation year on tax forms and prevents credit claims before the later of either the taxable year production is complete or the year following allocation.