Read about it here and write to the Mayor's office for film and television broadcasting before June 1 (or apply to attend the hearing) if you are interested in opposing this rule:
http://www.nyc.gov/html/film/html/ne...proposal.shtml
In short, if you are going to be shooting with anything more than a camera and a tripod and/or you are going to "exert exclusive use of space" of public walkways, then you will need to apply for a permit with a $300 fee. The kicker? If your permit is denied for any reason, the city keeps the $300 and you don't get to do your shoot.
EDIT: It also states if you are required to get the permit/pay the fee, you must have proof of $1,000,000 in liability insurance. It is obvious this is aimed at TV and Film and large commercial shoots, but the fact of the way it is worded, it will affect a two person fashion shoot with one reflector on a stand.
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