40% tax rebate
FILM TAX CREDIT FOR ADDITIONAL UPSTATE COUNTIES PASSES SENATE
June 14, 2016
The New York State Senate today passed legislation (S.6987), sponsored by Senator George Amedore, to extend the New York State Film Production Tax Credit to include an additional 12 upstate counties, including Greene and Ulster Counties in the 46th Senate District.
“The film production tax credit has encouraged production outside of the studio zone in New York City because the additional costs can be offset with the tax credit,” said Senator George Amedore. “But many upstate counties – including Ulster and Greene in the 46th Senate district -- that weren’t included have found themselves at a disadvantage when it comes to competing with surrounding counties to attract companies to film there.
The 2013-14 State Budget created an additional ten percent Film Production Tax Credit for production companies who film in forty Upstate counties. In 2015, two counties – Albany and Schenectady – were added.
This legislation passed today makes an additional 12 counties eligible for the Film Production Tax Credit: Greene, Ulster, Columbia, Warren, Saratoga, Washington, Rensselaer, Dutchess, Sullivan, Orange, Putnam and Suffolk.
“Right now, too many counties are being shut out of a program that has proved successful in other parts of the state. This legislation levels the playing field and will ensure that more areas of the state – including the Capital Region and the Hudson Valley -- can take advantage of this program,” said Senator George Amedore.
The bill was sent to the Assembly, where it is sponsored by Assembly Aileen Gunther.