New York is not getting rid of its $420 million dollar Film Tax Credit Program, according to New York State Sen. Liz Krueger.
Krueger praised the program, which offers a 30 percent rebate on in-state, below-the-line production costs — making N.Y.C. a haven for small, medium and large film and television companies.
“This tax credit has a documented value year after year after year,” Krueger said Thursday on WNYC radio. “It’s working, and the senate is certainly not proposing ending this credit.”
Krueger, who represents Manhattan’s Midtown and East Side communities and is chair of the Senate Finance Committee, made the comments as a rebuttal to Gov. Andrew Cuomo who on Tuesday suggested ending the tax credit.
See more at NY Business Journal