Bill > A08200

This bill requires third-party verification of applications for the Empire State film production credit and the Empire State film post-production credit starting January 1, 2026. Specifically, the bill mandates that qualified film production companies or independent film production companies must submit a verification of their final credit application performed by approved in-state certified public accountants (CPAs) when applying for tax credits under articles nine-A or twenty-two of the tax law. The department of economic development will maintain a list of approved CPAs and will develop procedures and performance standards for these accountants. CPAs who fail to meet these standards will be immediately removed from the list. Importantly, the costs of this third-party verification cannot be claimed as an expense for the purposes of the credit. The bill aims to add an extra layer of scrutiny and independent verification to the film production credit application process, potentially reducing errors or fraudulent claims.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A8200