Extends provisions relating to the New York city musical and theatrical production tax credit and the New York state council on the arts cultural.

The bill amends the tax law and the state finance law to extend provisions relating to the New York city musical and theatrical production tax credit and the New York state council on the arts cultural program fund. It modifies the credit amount, credit period, and maximum amount of credits for qualified New York city musical and theatrical productions. The bill also establishes procedures for the allocation of tax credits and requires certain contributions to the New York state council on the arts cultural program fund.

Extends provisions relating to the New York city musical and theatrical production tax credit and the New York state council on the arts cultural.

The bill amends the tax law and the state finance law to extend provisions relating to the New York city musical and theatrical production tax credit and the New York state council on the arts cultural program fund. It modifies the credit amount, credit period, and maximum amount of credits for qualified New York city musical and theatrical productions. The bill also establishes procedures for the allocation of tax credits and requires certain contributions to the New York state council on the arts cultural program fund.