For those that had not heard, the NY state budget was enacted and there is some big news for our industry. As we previously noted it was proposed that the credit receive a three year extension, through 2029, which has now been enacted. For NYPA, our partners, and fellow industry advocates a multi-year extension of the credit has been a long time goal we have all worked toward. A big thank you to Governor Kathy Hochul and the Legislature for making this a reality.
In addition, the new diversity requirement we had noted earlier and on calls was also enacted. This is the legislative language:
14 (ii) On or after January first, two thousand twenty-three, a qualified
15 film production company or qualified independent film production company
16 that has applied for credit under the provisions of this section shall,
17 as a condition for the granting of the credit, file a diversity plan
18 with the governor’s office for motion picture and television development
19 outlining specific goals for hiring a diverse workforce. The commission-
20 er of economic development shall promulgate regulations implementing the
21 requirements of this paragraph, which, notwithstanding any provisions to
22 the contrary in the state administrative procedure act, may be adopted
23 on an emergency basis, to ensure compliance with the provisions of this
24 paragraph. The governor’s office for motion picture and television
25 development shall review each submitted plan as to whether it meets the
26 requirements established by the commissioner of economic development,
27 and shall verify that the applicant has met or made good-faith efforts
28 in achieving these goals. The diversity plan also shall indicate whether
29 the qualified film production company or qualified independent film
30 production company that has applied for credit under the provisions of
31 this section intends to participate in training, education, and recruit-
32 ment programs that are designed to promote and encourage the training
33 and hiring in the film and television industry of New York residents who
34 represent the diversity of the State’s population.
When we discussed this requirement at our Open Meeting for members in March, it was noted the proposal was very similar to the
Illinois diversity requirement. Now that it has been enacted, we will keep members informed as the process unfolds and host discussions prior to implementation on best practices.