2023 New York Laws › COM - Economic Development Law › Article 12 - Economic Information and Research › 242 - Reports on the Digital Gaming Industries in New York.

§  242.  Reports  on the digital gaming industries in New York. 1. The
department of economic development shall file a  report  on  a  biannual
basis  with  the  director  of  the  division  of  the  budget  and  the
chairpersons of the assembly ways and means committee and senate finance
committee. The report shall be filed no later than  thirty  days  before
the  mid-point  and  the  end of the state fiscal year. The first report
shall cover the calendar half year that begins  on  January  first,  two
thousand twenty-four. Each report must contain the following information
for the covered calendar half year:
(a)  the  total dollar amount of credits allocated pursuant to section
forty-five of the tax law during the half year, broken down by month;
(b) the number of digital gaming projects, which have  been  allocated
tax  credits of less than one million dollars per project, and the total
dollar amount of credits allocated to those projects;
(c) the number of digital gaming projects, which have  been  allocated
tax  credits  of  more  than  one  million dollars, and the total dollar
amount of credits allocated to those projects;
(d) a list of each eligible digital gaming project  and  for  each  of
those  projects,  (i)  the estimated number of employees associated with
the project, (ii) the estimated qualifying costs for the project,  (iii)
the  estimated  total  costs  of  the  project, (iv) the credit eligible
employee hours for each project, and (v) total  wages  for  such  credit
eligible employee hours for each project; and
(e)  (i)  the  name  of  each taxpayer allocated a tax credit for each
project and the county of residence or incorporation  of  such  taxpayer
or,  if the taxpayer does not reside or is not incorporated in New York,
the state of residence or incorporation; however, if the taxpayer claims
a tax credit because the taxpayer is a member  of  a  limited  liability
company,  a  partner in a partnership or a shareholder in a subchapter S
corporation, the name of each limited liability company, partnership  or
subchapter  S  corporation  earning  any  of  those  tax credits must be
included in  the  report  instead  of  information  about  the  taxpayer
claiming the tax credit, (ii) the amount of tax credit allocated to each
taxpayer;  provided however, if the taxpayer claims a tax credit because
the taxpayer is a member of a limited liability company, a partner in  a
partnership  or  a shareholder in a subchapter S corporation, the amount
of tax credit earned by each entity  must  be  included  in  the  report
instead  of  information about the taxpayer claiming the tax credit, and
(iii) information identifying the project associated with each  taxpayer
for  which  a tax credit was claimed under section forty-five of the tax
law.
2. The department of economic development shall file  a  report  on  a
triennial  basis with the director of the division of the budget and the
chairpersons of the assembly ways and means committee and senate finance
committee. The first report shall be filed no later  than  March  first,
two  thousand twenty-five. The report must be prepared by an independent
third party auditor and include: (a) information  regarding  the  empire
state  digital gaming production credit program including the efficiency
of operations, reliability of financial reporting, compliance with  laws
and  regulations  and  distribution of assets and funds; (b) an economic
impact study prepared by an independent third party of the program;  and
(c)   any   other   information  or  statistical  information  that  the
commissioner of economic development deems to be useful in analyzing the
effects of the programs.
3. In the event that this tax credit program is no longer  legally  in
effect,  the  department  shall  not  be required to produce the reports
referenced in subdivisions one and two of this section.