New York Senate Bill S04662

New York 2025-2026 Regular Session

• Introduced: 2/11/25
• Refer: 2/11/25
• Refer: 1/7/26

Caption

Requires the department of economic development issue a quarterly report on film production and post-production tax credits by project and by county in the aggregate and publish such reports on such department's website.

Summary

This bill would require the New York State Department of Economic Development to produce and publish a quarterly report on film production and post-production tax credits. The report would be due within 15 days after the end of each calendar quarter and would be sent to the Governor, the Division of the Budget, and the chairs of the Assembly Ways and Means Committee and Senate Finance Committee, as well as posted on the department’s public website. The required report would provide project-level and county-level information on film tax credits claimed under the state’s film incentive provisions. For each project and in the aggregate by county, it would include qualified production costs, where those costs were incurred, days of principal photography, where filming occurred, employee counts and residency/work locations, credit-eligible work hours, and the amount of tax credits issued. The bill would take effect one year after becoming law.

Impact

The bill would amend the Economic Development Law to add a new reporting duty for the Department of Economic Development, increasing transparency around the state’s film production and post-production tax credit programs. It would not change eligibility rules or the amount of the credits themselves, but it would require regular disclosure of how credits are used and where related economic activity occurs, affecting the department, budget officials, legislative fiscal committees, and film production companies that claim the credits.

Sentiment

Based on the bill text and the absence of recorded committee debate or votes, the measure appears to be a transparency and oversight proposal rather than a controversial policy change. Its focus on public reporting suggests a generally neutral-to-supportive framing, especially for lawmakers interested in monitoring the cost and geographic distribution of film tax incentives. No formal opposition or recorded vote history is provided in the materials.

Contention

The main potential point of contention is the level of disclosure required from film production and post-production tax credit recipients. Supporters are likely to favor the bill for improving accountability, public access, and legislative oversight of incentive spending, while critics could object to the administrative burden on the department and the possible exposure of project-specific business information, even though the bill does not alter the underlying tax credit program.