Bill
A 3457
The bill modifies the Empire State Digital Gaming Tax Credit by changing the claim period, eligibility criteria, and allowing unused credits to roll over.
Overview
- Bill: A 3457A
- Title: Relates to the period during which the Empire State Digital Gaming Tax Credit may be claimed, criteria for such tax credit, and allowing a rollover of such credit
- Status: PRINT NUMBER 3457A
- Introduced: January 27, 2025
- Primary sponsor: John T. McDonald III (with a broad list of cosponsors)
- Related: A 7126 (prior-session), S 4715 (companion)
What the bill would do
- Purpose and intent: The bill seeks to modify key aspects of the Empire State Digital Gaming Tax Credit program, focusing on when the credit can be claimed, the criteria for eligibility, and the handling of unused credits (rollover).
Key provisions (as described by the bill’s title and summary)
- Claim period for the credit: The bill would alter the period during which taxpayers may claim the Empire State Digital Gaming Tax Credit. This could change filing windows, tax-year alignment, or related timing requirements.
- Eligibility criteria: The bill would revise the criteria necessary to qualify for the credit. This may involve updated thresholds, project types, location or job-creation requirements, or other programmatic standards.
- Rollover of unused credits: The bill would authorize a rollover of unused credits to future tax years, allowing taxpayers to apply credits beyond the year in which they were earned, subject to any specified limits or conditions.
Who would be affected
- Primary beneficiaries: Digital gaming developers, production companies, and investors operating in New York State who seek the Empire State Digital Gaming Tax Credit.
- State agencies: Department of Taxation and Finance and Empire State Development, which administer tax credits and related eligibility criteria.
- Broader impact: The changes could influence investment timing, project planning, and job creation within the New York digital gaming industry.
Procedural and timeline aspects
- Introduction and referral: Introduced January 27, 2025, and referred to Ways and Means.
- Legislative actions: On March 6, 2025, amendments were filed and the bill was reprinted as A 3457A, with additional amendments and recombination to Ways and Means noted in the actions.
- Legislative context: Related companion bills exist (S 4715; A 7126 from a prior session), indicating ongoing interest in refining the credit program.
Notes and considerations
- The exact text of the provisions (specific eligibility thresholds, rollover limits, and precise claim periods) is not provided here. Readers should review the bill’s official text for detailed language and any fiscal impact statements.
- If enacted, the bill would take effect as provided in the statute, typically with an effective date specified within the enacted version. The current summary does not specify the effective date.
Compiled from official sources — confirm details with the bill’s official record.
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