S07562 modifies the process for claiming tax credits under the Empire State Film Production Credit and applies specific provisions of the tax law concerning the empire state film production credit and the empire state film post-production credit.
The New York State Senate passed S07562 on June 9, 2023 by a vote of 50 to 13. We have assigned pluses to the nays because providing tax credits to a specific industry—particularly the film industry—is not appropriate because most of the film industry supports woke Marxist ideology. Taxpayers should not be financially responsible for supporting movie productions that are associated with leftists. Furthermore, government should not intervene in the marketplace by selectively granting tax incentives to specific industries.