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NY A06857
Bill
Status
4/5/2011
Primary Sponsor
Steven Englebright
Click for details
AI Summary
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Increases the empire state film post production credit rate from 10 percent to 30 percent of qualified post production costs paid at qualified in-state facilities
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Modifies eligibility requirement so taxpayers must meet a 75 percent threshold for qualified post production costs within one or more of three categories: picture and sound post production, music, or visual effects
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Credits are allowed only for the specific category or categories where the 75 percent threshold is met, rather than applying to all post production costs as a whole
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Provides detailed definitions for three post production cost categories: picture and sound post production (editorial, mixing, color grading, laboratory services); music (original scoring, music editorial); and visual effects (graphic design, compositing, animation, tracking)
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Maintains aggregate credit caps and allocation procedures under existing law (Chapter 60, Part P, Section 7)
Legislative Description
Relates to eligibility for the empire state film post production credit; provides for eligibility for the credit if expenditures meet or exceed seventy-five percent of qualified expenditures, including picture and sound post production costs, music and visual effects; defines "picture and sound post production", "music", and "visual effects".
Last Action
held for consideration in ways and means
6/19/2012