§ 15-05 Allocation of New York City Made in New York Marketing Credit.
RCNY § 15-05
(a)When an application has been approved the Office will allocate the credit in order of priority based upon submission date of an application and subject to the availability of media assets. In the event that an marketing credit recipient is unable to use the media assets after the credit has been allocated, such recipient will lose its "first come, first served" status and will be accommodated subject to availability without guarantee of reallocation.
(b)The Office will allocate the credit based on a project's qualified production costs. The amount of qualified production costs will determine which of the following three tiers an applicant would qualify for: Tier 1: Qualified production costs of $10 million (ten million dollars) or more Tier 2: Qualified production costs of at least $5 million (five million dollars) and less than $10 million (ten million dollars) Tier 3: Qualified production costs of at least $400,000 (four hundred thousand dollars) and less than $5 million (five million dollars) (c) Depending on the availability of media assets, the Office will determine the amount and type of media assets assigned to each tier, which will be allocated to marketing credit recipients according to their tier category.
(d)Productions that have qualified production costs of $10 million or more, or are produced (i) by a company of which more than 5 percent of the beneficial ownership is owned directly or indirectly by a publicly traded entity, or (ii) by a company having more than $35 million in annual revenue, must pay for the costs, if any, of printing materials for distribution through the media assets assigned under the credit.
(e)If a marketing credit recipient does not pay the Community Benefit within thirty (30) days of the completion of such recipient's media campaign, such recipient may be required to make a payment to MOME in an amount equivalent to 100% of the value of the media assets received, as determined by MOME. (Amended City Record 3/30/2018, eff. 4/29/2018)
