More Productions Eligible for Higher New York Film Tax Credit

New York Gov. Kathy Hochul on Wednesday signed a bill allowing more television and movie productions to qualify for the state’s newly increased film tax incentive.

Lawmakers boosted the program’s annual credit cap from $420 million to $700 million in this year’s state budget, making it one of the largest film tax breaks in the country. The legislation, S7562, will make the increased funding available retroactively to studios that applied to the program before the expansion went into effect on April 1.

Two budget watchdog groups, Reinvent Albany and the Citizens Budget Commission, had called on Hochul (D) ...