Bill
Bill > S04862
NY S04862
NY S04862Establishes the New York city musical and theatrical production tax credit; establishes credit shall be 25% of qualified production expenses, not to exceed five million dollars per qualified New York city musical and theatrical production.
summary
Introduced
02/16/2021
02/16/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Establishes the New York city musical and theatrical production tax credit; establishes credit shall be 25% of qualified production expenses, not to exceed five million dollars per qualified New York city musical and theatrical production.
AI Summary
This bill establishes the New York City Musical and Theatrical Production Tax Credit, which provides a 25% tax credit on qualified production expenses, up to $5 million per production, for eligible companies producing live, for-profit stage presentations in qualified production facilities within New York City. The bill also creates the New York State Arts and Cultural Programs Fund to support arts and cultural programs for secondary and elementary students, particularly in underserved communities, using a portion of the tax credit revenue. The credit is available for taxable years beginning on or after January 1, 2021 and is set to expire 8 years after the effective date.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS (on 01/05/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S4862 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S04862&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S04862 |
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