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Bill

S 4715

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

2025 Regular Session Introduced by Jeremy Cooney and 1 co-sponsor

Bill S 4715 extends the Empire State Digital Gaming Tax Credit, allowing rollovers and clearer eligibility, boosting investment in New York's digital gaming industry.

PRINT NUMBER 4715A
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WeVote Research Nonpartisan
Bill Summary · S 4715

Summary of Bill S 4715

Overview

Bill S 4715 aims to amend existing legislation regarding the Empire State Digital Gaming Tax Credit. The bill seeks to extend the period during which this tax credit can be claimed, establish specific criteria for eligibility, and allow for the rollover of unused credits.

Purpose and Intent

The primary purpose of Bill S 4715 is to enhance the attractiveness of digital gaming in New York State by providing clearer guidelines and extended benefits for businesses engaged in this sector. By allowing a rollover of the tax credit, the bill intends to encourage investment and growth in the digital gaming industry, ultimately contributing to economic development.

Key Provisions

  • Extended Claim Period: The bill proposes to extend the duration during which eligible entities can claim the Empire State Digital Gaming Tax Credit. This change is designed to provide businesses with more flexibility in utilizing the credit.

  • Criteria for Eligibility: The bill outlines specific criteria that must be met to qualify for the tax credit. While the exact criteria are not detailed in the provided information, they are expected to focus on the nature of the digital gaming operations and the economic impact on the state.

  • Rollover of Tax Credit: One of the significant changes introduced by this bill is the provision allowing businesses to roll over any unused portion of the tax credit to future tax years. This feature aims to ensure that businesses can maximize their benefits from the credit over time.

Affected Parties

The bill primarily affects:
- Digital Gaming Companies: Businesses engaged in digital gaming operations in New York State will benefit from the extended claim period and the ability to roll over unused credits.
- State Revenue: The changes may impact state tax revenue, depending on the uptake of the tax credit by eligible businesses.

Legislative Timeline

  • Introduced: February 12, 2025
  • Referred to Committee: The bill was referred to the Budget and Revenue Committee on the same day it was introduced.
  • Amendments and Recommitment: On March 5, 2025, the bill was amended and recommitted to the Budget and Revenue Committee, indicating ongoing discussions and potential adjustments to the bill's provisions.

Related Legislation

  • S 6997: A related bill from the prior session that may address similar issues in digital gaming taxation.
  • A 7126: Another prior-session bill that could have implications for the same sector.
  • A 3457: A companion bill that may provide additional context or support for the provisions outlined in S 4715.

Conclusion

Bill S 4715 represents a strategic effort to bolster the digital gaming industry in New York State through tax incentives. By extending the claim period, clarifying eligibility criteria, and allowing for credit rollovers, the bill aims to foster a more favorable business environment for digital gaming companies. As the legislative process continues, stakeholders will be closely monitoring any amendments or changes to the bill's provisions.

Compiled from official sources — confirm details with the bill’s official record.

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