A Letter from Your NY Local President

Dear Member,

Film and television production has proven again and again to be a lucrative part of New York State’s economy. Thanks to the advocacy efforts of SAG-AFTRA, Directors Guild of America, Writers Guild of America East, International Alliance of Theatrical Stage Employees, Teamsters, and our New York Local Board and staff, the New York state budget laid out yesterday includes a proposal to expand and enhance the film and television tax credit.

The budget would extend the production and post-production credits an additional five years through 2034 and would make the following additional improvements: 

• Increase the annual funding cap of the credits to $700 million starting in tax year 2024, including $45 million of this being allocated to the post-production credit
• Increase the credit base rate from 25 to 30 percent
• Provide an additional 5 percentage points credit for eligible relocating television series
• Include a capped credit for “above the line” salaries like those for writers and directors
• Reduce the number of seasons that a relocated variety series must be filmed outside New York prior to its first relocated season in New York to be eligible for the credits.  

SAG-AFTRA and our sibling film and TV unions released the following statement yesterday: “New York's film and television unions would like to thank Governor Hochul for her strong support of union workers, union jobs and union benefits. The Governor's proposed enhancements to the film and television tax credit in her Executive Budget will sustain and create strong union jobs with critical health and retirement benefits for many years to come. These proposed reforms will stem a current loss of production and lift our industry to new heights. Thanks to the Governor, New York will remain a strong union state and a global destination for film and television production.”

As the legislature reviews and proposes their budget, keep an eye out for action alerts to let your representatives know how important these tax credits are to the workers in New York.

Forward together,

Ezra Knight

New York Local President