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NY S08829
Bill
Status
12/23/2022
Primary Sponsor
Brad Hoylman-Sigal
Click for details
AI Summary
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Amends the definition of "qualified film" under New York's empire state film production credit to allow television series that change their title and/or principal cast before March 31, 2023, to maintain continuous production status.
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Requires that series with title or cast changes must film at the same location as prior seasons, be produced by the same entity, and retain at least 80 percent of staff from the previous season to qualify for the exemption.
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Applies to series that were conditionally eligible for the tax credit prior to April 1, 2020, and continue submitting annual applications for each season.
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Takes effect immediately and applies to tax years beginning on or after January 1, 2022.
Legislative Description
Provides that a television series that changes the title of the series and/or the principal cast prior to March 31, 2023, shall be considered to remain in continuous production for each season, provided the series films at the same location as prior seasons, is produced by the same entity, and retains at least eighty percent of the staff from the prior season for purposes of being a qualified film for the empire state film production credit.
Last Action
VETOED MEMO.172
12/23/2022