US EditionUpdate: $3.7 billion in new taxpayer handouts to corporations in 2026 state budget - Reinvent Albany
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Update: $3.7 billion in new taxpayer handouts to corporations in 2026 state budget - Reinvent Albany
Governor Hochul and the Legislature are boosting New York’s Film/TV, Broadway, Excelsior, and other reimbursable tax credit programs by at least $3.7 billion. Reimbursable tax credits are direct payments from the state to film producers and others reimbursing them for a chunk of their expenses – for instance, 30% of the cost of making a movie in New York. Outsiders may find it fiscally irresponsible that the state is increasing corporate handou…
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