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NY A11096
Bill
Status
6/4/2018
Primary Sponsor
Marcos Crespo
Click for details
AI Summary
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Creates a tax credit equal to 30% of qualified television writers' and directors' fees and salaries, with a maximum of $50,000 per individual per pilot or episode and $150,000 per individual overall.
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Limits credit eligibility to writers and directors who are minority group members or women, and excludes profit participants in the production.
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Applies to qualified film production companies and qualified independent film production companies (with budgets up to $15 million) subject to corporate or personal income tax.
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Caps total annual credits at $5 million across all qualified television production tax credits, allocated on a first-come, first-served basis by the Department of Economic Development.
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Requires regulations by October 31, 2018, and annual reporting to the Governor and Legislature on credit effectiveness in stimulating diversity in the film industry; effective for taxable years beginning January 1, 2019.
Legislative Description
Provides a television writers' and directors' fees and salaries credit; provides that to be eligible the writer or director is a minority group member, or a woman, and provides, further, that any writer or director who is a profit participant in the qualified production shall not be eligible.
Last Action
ordered to third reading rules cal.463
6/20/2018