Danielle Muoio Dunn
June 2, 2026
The state requires “highly successful productions” to contribute up to 50% of the tax credit to the New York State Council on the Arts cultural program fund. But none of the productions have hit the state’s target, which requires them to generate more than 200% of their ongoing production costs, according to Empire State Development Corp.
Manhattan Borough President Brad Hoylman-Sigal, who helped created the program as a Democratic state senator, said the state should keep the subsidy but the program should be restructured to return some of the credit when a show turns a profit.
Click here to read the full story in Bloomberg.
