Cuts to New York State Tax Credit Could Threaten Production of Independent Film

Filmmaker Michael Stever hopes to begin production on his first independent feature Ghost of Zion sometime later this year, but his budget hinges on the Empire State Film Production Tax Credit which narrowly escaped getting cut on April 1st.
By: Brian Geldin & Michael Stever
 
April 2, 2009 - PRLog -- As suggested by the New York Production Alliance (NYPA), Stever took action by calling New York State representatives last week before the budget was approved to speak with them about his film and how it would be affected by the potential cuts.

Last year, Stever became signatory with The Screen Actors' Guild for Ghosts Of Zion.  While slowly assembling select cast and crew for the film, funding is still underway.  The budget is in place, and Stever is ready to take proposals from interested investors. He’s hoping to lure them in by telling them about New York State’s production tax incentives, but if the State ultimately passes legislation to cut those incentives, he may be forced to shoot the film in another state.

NYPA on its website gave out telephone numbers for New York State government officials and representatives, urging people to call them in hopes of green lighting the Empire State Production Tax Credit.  From his calls, Stever learned from sources that the State ran out of funds to continue to provide its production tax incentive, which would be 30%.  The State is looking to extend this credit, but only as part of the overall budget adoption.  The State fiscal year begins April 1, which was the theoretical target date for a vote to be made by the State Senate and Assembly.

The bill expected to be voted on in the State Senate was S02724, which removes the cap on the aggregate amount of tax credits allowed pursuant to the Empire State film production credit.  In the State Assembly, the bills were A00160 that enacts into law major components of legislation, which are necessary to implement the state fiscal plan for the 2009-2010 state fiscal year, and bill A5784 that establishes an Empire State film post-production tax credit.

Stever seemed somewhat optimistic as the bill apparently did pass, for a lesser period of time, just one year. He was told that historically most credits have gotten renewed, however not always on a permanent basis. “Every few years they get renewed, but politicians in Albany tinker with them. All negotiations are being done behind closed doors, which make industry types uncomfortable,” said the source.

“I’m just one of the many independent filmmakers who would be adversely affected by these continued cuts, because I'm relying on tax credits to keep my budget affordable,” Stever said.

As the tax credit has been renewed for a year, Stever will continue to prep for Ghosts Of Zion in New York. The film is a 'cautionary tale' about a young, newly married Mormon couple that enters into their marriage with some secrets they've chosen to keep from the other until all hell breaks loose when they open a 'Pandora's Box.' Ghosts of Zion is also a dramatic commentary on our society’s various religious sub divisions, and how they are often breeding grounds for segregation, violence and fear.  Video clips from a recent table read of Ghosts of Zion as well as a trailer can be viewed at Stever's Official website which is http://www.MichaelStever.net on the “Videos” page.

# # #

Michael Stever is a full time freelance camera man, filmmaker and writer shooting and editing mini-DV projects all over New York City. Having worked for nearly 3 years as Unit Production Manager on the critically acclaimed documentary Broadway: The Golden Age and its two sequels, Stever has been merging the 'Perfect Union' of industry smarts, & technical savvy. Recent clients include Broadway vets Mary Bond Davis as well as Judy McLane at West Bank Cafe's Laurie Beechman Theatre, musical virtuoso Janice Martin, the Screen Actors Guild's BookPals group, Barnes & Noble and PlayBill magazine columnist Ellis Nassour. Having added the title of 'Producer' to his resume, Michael recently wrapped filming on a two-part instructional DVD series for Actors Connection; New York City's premiere instructional 'hub' for those seeking careers in entertainment.
End
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share