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August 4, 2005 - On August 2, Governor George E. Pataki signed into law an investment tax credit for taxpayers that own qualified film production facilities. The law encourages the creation and expansion of production facilities in New York State. By supporting the modernization, expansion and creation of production facilities, the incentive is intended to grow the State's share of the entertainment production industry.
The new law comes in a year that has already seen the passage of the State's ten percent tax credit and the City's five percent tax credit for qualified film and television productions. Click here for more information on the "Made in NY" Incentive Program.
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