NY Lawmakers Endorsing Music & Digital Games Production Tax Credits
New York lawmakers have endorsed $50 million in annual tax credits for producing music and digital games in the state. That's on top of $420 million in yearly breaks now available to television and movie producers. Sponsors of the economic stimulus bill now heading to Governor Andrew Cuomo's desk say New York does less than 4 percent of music production estimated at $17 billion nationally. And they estimate New York has only a 1 percent share of the nation's $25 billion U.S. gaming industry. The governor's office says the bill is under review.