NY State Assembly Bill 2015-A9387B

Assembly Bill A9387B

2015-2016 Legislative Session

Establishes a tax credit for the purchase and installation of a security camera system on residential, commercial and non-profit owned properties

download bill text pdf

Archive: Last Bill Status - In Assembly Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 29, 2016	print number 9387b
Jun 29, 2016	amend (t) and recommit to ways and means
Apr 05, 2016	print number 9387a
Apr 05, 2016	amend and recommit to ways and means
Feb 29, 2016	referred to ways and means

Bill Amendments

Original

B (Active)

co-Sponsors

multi-Sponsors

2015-A9387 - Details

See Senate Version of this Bill:: S6937
Current Committee:: Assembly Ways And Means
Law Section:: Tax Law
Laws Affected:: Add §§43 & 187-t, amd §§606, 210-B & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2017-2018: A6264, S3480
2019-2020: A7322
2021-2022: A2537
2023-2024: A1617

2015-A9387 - Summary

Establishes a tax credit for the purchase and installation of a security camera system on residential, commercial and non-profit owned properties.

2015-A9387 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9387

                          I N  A S S E M B L Y

                            February 29, 2016
                               ___________

Introduced by M. of A. HIKIND -- read once and referred to the Committee
  on Ways and Means

AN  ACT  to  amend the tax law, in relation to establishment of a credit
  for the purchase and installation of a security camera system on resi-
  dential-, commercial-  and  non-profit  owned  properties  located  in
  cities having a population of one million or more persons

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The tax law is amended by adding a new section 42  to  read
as follows:
  S 42. CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON  PROPERTY  LOCATED IN CITIES WITH A POPULATION OF ONE MILLION OR MORE
PERSONS. (A) ALLOWANCE OF CREDIT. IN CITIES WITH  A  POPULATION  OF  ONE
MILLION  OR  MORE, A PROPERTY OWNER WHO IS SUBJECT TO TAX UNDER ARTICLES
NINE, NINE-A, TWENTY-TWO, THIRTY-TWO OR THIRTY-THREE  OF  THIS  CHAPTER,
SHALL BE ALLOWED A ONE-TIME CREDIT AGAINST SUCH TAX FOR THE PURCHASE AND
INSTALLATION  OF  A  QUALIFIED SECURITY CAMERA SYSTEM ON A PROPERTY. THE
AMOUNT OF SUCH CREDIT SHALL BE FIVE HUNDRED DOLLARS.   THE CREDIT  SHALL
BE  ALLOWABLE FOR OWNERS OF RESIDENTIAL OR COMMERCIAL PROPERTIES AND FOR
PROPERTY OWNERS INCORPORATED PURSUANT TO THE TERMS OF THE NOT-FOR-PROFIT
CORPORATION LAW.   A PROPERTY OWNER CLAIMING A  CREDIT  AGAINST  TAX  AS
PROVIDED  IN  THIS  SECTION MAY CLAIM IT AGAINST TAX OWED UNDER ONLY ONE
ARTICLE OF THIS CHAPTER.
  (B) DEFINITIONS. THE TERM "QUALIFIED  SECURITY  CAMERA  SYSTEM"  MEANS
EXPENDITURES  FOR  THE  PURCHASE OF A CAMERA SYSTEM, MATERIALS AND LABOR
COSTS PROPERLY ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY  AND  ORIGINAL
INSTALLATION. SUCH CAMERA SYSTEM SHALL BE CAPABLE OF RECORDING AND STOR-
ING CAMERA FOOTAGE FOR UP TO FORTY-EIGHT HOURS.
  (C)  WHEN  CREDIT  ALLOWED.  THE  CREDIT  PROVIDED FOR HEREIN SHALL BE
ALLOWED WITH RESPECT TO THE TAXABLE YEAR COMMENCING IN WHICH THE SECURI-
TY CAMERA SYSTEM IS INSTALLED.
  (D) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT,  AND  CARRYOVERS
OF  SUCH  CREDIT,  ALLOWABLE  UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

                                                           LBD13781-01-6

A. 9387                             2

CARRIED OVER TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE  TAXABLE  YEAR
WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S  2. Section 606 of the tax law is amended by adding a new subsection
(v) to read as follows:
  (V) CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY CAMERA SYSTEM  ON
RESIDENTIAL  PROPERTY LOCATED IN CITIES WITH A POPULATION OF ONE MILLION
OR MORE. (1) ALLOWANCE OF CREDIT. IN CITIES WITH  A  POPULATION  OF  ONE
MILLION  OR  MORE,  A  TAXPAYER  WHO  IS  A HOMEOWNER SHALL BE ALLOWED A
ONE-TIME CREDIT FOR PURCHASE  AND  INSTALLATION  OF  A  SECURITY  CAMERA
SYSTEM  ON A RESIDENTIAL PROPERTY, TO BE COMPUTED AS PROVIDED IN SECTION
FORTY-TWO OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
  (2) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT,  AND  CARRYOVERS
OF  SUCH  CREDIT,  ALLOWABLE  UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
CARRIED OVER TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE  TAXABLE  YEAR
WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S  3.  The tax law is amended by adding a new section 187-t to read as
follows:
  S 187-T. CREDIT FOR PURCHASE AND INSTALLATION  OF  A  SECURITY  CAMERA
SYSTEM  ON PROPERTY LOCATED IN CITIES WITH POPULATIONS OF ONE MILLION OR
MORE PERSONS. 1.  ALLOWANCE OF CREDIT. A TAXPAYER  SHALL  BE  ALLOWED  A
CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-TWO OF THIS CHAPTER,
AGAINST  THE  TAXES  IMPOSED  BY  SECTIONS ONE HUNDRED EIGHTY-THREE, ONE
HUNDRED  EIGHTY-FOUR  AND  ONE  HUNDRED  EIGHTY-FIVE  OF  THIS  ARTICLE.
PROVIDED,  HOWEVER, THAT THE AMOUNT OF SUCH CREDIT ALLOWABLE AGAINST THE
TAX IMPOSED BY SECTION ONE HUNDRED EIGHTY-FOUR OF THIS ARTICLE SHALL  BE
THE  EXCESS  OF  THE AMOUNT OF SUCH CREDIT OVER THE AMOUNT OF ANY CREDIT
ALLOWED BY THIS SECTION AGAINST THE TAX IMPOSED BY SECTION  ONE  HUNDRED
EIGHTY-THREE OF THIS ARTICLE.
  2.  APPLICATION  OF  CREDIT.  IN  NO EVENT SHALL THE CREDIT UNDER THIS
SECTION BE ALLOWED IN AN AMOUNT WHICH WILL REDUCE  THE  TAX  PAYABLE  TO
LESS THAN THE APPLICABLE MINIMUM TAX FIXED BY SECTION ONE HUNDRED EIGHT-
Y-THREE  OR  ONE  HUNDRED  EIGHTY-FIVE OF THIS ARTICLE. IF, HOWEVER, THE
AMOUNT OF CREDIT ALLOWABLE UNDER  THIS  SECTION  FOR  ANY  TAXABLE  YEAR
REDUCES  THE  TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN
SUCH TAXABLE YEAR SHALL BE TREATED  AS  AN  OVERPAYMENT  OF  TAX  TO  BE
REFUNDED  IN  ACCORDANCE  WITH  THE  PROVISIONS  OF SECTION ONE THOUSAND
EIGHTY-SIX  OF  THIS  CHAPTER.  PROVIDED,  HOWEVER,  THE  PROVISIONS  OF
SUBSECTION  (C)  OF  SECTION  ONE  THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
  S 4. Section 210-B of the tax law is amended by adding a new  subdivi-
sion 51 to read as follows:
  51.  CREDIT  FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON PROPERTY LOCATED IN CITIES WITH POPULATIONS OF ONE  MILLION  OR  MORE
PERSONS.  (A) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
TO BE COMPUTED AS PROVIDED IN SUBDIVISION (A) OF  SECTION  FORTY-TWO  OF
THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
  (B)  APPLICATION  OF  CREDIT.  IN NO EVENT SHALL THE CREDIT UNDER THIS
SECTION BE ALLOWED IN AN AMOUNT WHICH WILL REDUCE THE TAX TO  LESS  THAN
THE  AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D)  OF  SUBDIVISION ONE OF THIS
SECTION. IF, HOWEVER, THE AMOUNT OF CREDIT ALLOWED  UNDER  THIS  SECTION
FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CRED-
IT  NOT  DEDUCTIBLE IN SUCH TAXABLE YEAR SHALL BE TREATED AS AN OVERPAY-
MENT OF TAX TO BE REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF  SECTION

A. 9387                             3

ONE  THOUSAND  EIGHTY-SIX  OF  THIS  CHAPTER,  PROVIDED HOWEVER, THAT NO
INTEREST SHALL BE PAID THEREON.
  S  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new  clause  (xliii)  to  read  as
follows:
(XLIII) CREDIT FOR PURCHASE          AMOUNT OF CREDIT UNDER
AND TAX INSTALLATION OF A            SECTION FORTY-TWO
SECURITY CAMERA SYSTEM UNDER
SUBSECTION (V)
  S  6.  Section 1511 of the tax law is amended by adding a new subdivi-
sion (bb) to read as follows:
  (BB) CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA  SYSTEM
ON  PROPERTY  LOCATED  IN CITIES WITH POPULATIONS OF ONE MILLION OR MORE
PERSONS. (1) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A  CREDIT,
TO BE COMPUTED AS PROVIDED IN SECTION FORTY-TWO OF THIS CHAPTER, AGAINST
THE TAXES IMPOSED BY THIS ARTICLE.
  (2)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO  LESS
THAN  THE  MINIMUM FIXED BY PARAGRAPH FOUR OF SUBDIVISION (A) OF SECTION
FIFTEEN HUNDRED TWO OF THIS ARTICLE. HOWEVER, IF THE AMOUNT  OF  CREDITS
ALLOWED  UNDER  THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO
SUCH AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE  IN  SUCH  TAXABLE
YEAR  SHALL  BE  TREATED  AS  AN  OVERPAYMENT  OF  TAX TO BE CREDITED OR
REFUNDED IN ACCORDANCE WITH  THE  PROVISIONS  OF  SECTION  ONE  THOUSAND
EIGHTY-SIX  OF  THIS  CHAPTER.    PROVIDED,  HOWEVER,  THE PROVISIONS OF
SUBSECTION (C) OF SECTION ONE  THOUSAND  EIGHTY-EIGHT  OF  THIS  CHAPTER
NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
  S 7. This act shall take effect January 1, 2017; provided, however, if
this  act  shall become a law after such date it shall take effect imme-
diately and shall be deemed to have been in full force and effect on and
after January 1, 2017.

co-Sponsors

View additional co-sponsors

multi-Sponsors

2015-A9387A - Details

See Senate Version of this Bill:: S6937
Current Committee:: Assembly Ways And Means
Law Section:: Tax Law
Laws Affected:: Add §§43 & 187-t, amd §§606, 210-B & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2017-2018: A6264, S3480
2019-2020: A7322
2021-2022: A2537
2023-2024: A1617

2015-A9387A - Summary

Establishes a tax credit for the purchase and installation of a security camera system on residential, commercial and non-profit owned properties.

2015-A9387A - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 9387--A

                          I N  A S S E M B L Y

                            February 29, 2016
                               ___________

Introduced  by M. of A. HIKIND, CRESPO, HOOPER, BLAKE, HYNDMAN -- Multi-
  Sponsored by -- M. of A. ABBATE, BRENNAN -- read once and referred  to
  the Committee on Ways and Means -- committee discharged, bill amended,
  ordered reprinted as amended and recommitted to said committee

AN  ACT  to  amend the tax law, in relation to establishment of a credit
  for the purchase and installation of a security camera system on resi-
  dential-, commercial-  and  non-profit  owned  properties  located  in
  cities having a population of one million or more persons

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The tax law is amended by adding a new section 42  to  read
as follows:
  S 42. CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON  PROPERTY  LOCATED IN CITIES WITH A POPULATION OF ONE MILLION OR MORE
PERSONS. (A) ALLOWANCE OF CREDIT. IN CITIES WITH  A  POPULATION  OF  ONE
MILLION  OR  MORE, A PROPERTY OWNER WHO IS SUBJECT TO TAX UNDER ARTICLES
NINE, NINE-A, TWENTY-TWO, THIRTY-TWO OR THIRTY-THREE  OF  THIS  CHAPTER,
SHALL BE ALLOWED A ONE-TIME CREDIT AGAINST SUCH TAX FOR THE PURCHASE AND
INSTALLATION  OF  A  QUALIFIED SECURITY CAMERA SYSTEM ON A PROPERTY. THE
AMOUNT OF SUCH CREDIT SHALL BE FIVE HUNDRED DOLLARS.   THE CREDIT  SHALL
BE  ALLOWABLE FOR OWNERS OF RESIDENTIAL OR COMMERCIAL PROPERTIES AND FOR
PROPERTY OWNERS INCORPORATED PURSUANT TO THE TERMS OF THE NOT-FOR-PROFIT
CORPORATION LAW.   A PROPERTY OWNER CLAIMING A  CREDIT  AGAINST  TAX  AS
PROVIDED  IN  THIS  SECTION MAY CLAIM IT AGAINST TAX OWED UNDER ONLY ONE
ARTICLE OF THIS CHAPTER.
  (B) DEFINITIONS. THE TERM "QUALIFIED  SECURITY  CAMERA  SYSTEM"  MEANS
EXPENDITURES  FOR  THE  PURCHASE OF A CAMERA SYSTEM, MATERIALS AND LABOR
COSTS PROPERLY ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY  AND  ORIGINAL
INSTALLATION. SUCH CAMERA SYSTEM SHALL BE CAPABLE OF RECORDING AND STOR-
ING CAMERA FOOTAGE FOR UP TO FORTY-EIGHT HOURS.
  (C)  WHEN  CREDIT  ALLOWED.  THE  CREDIT  PROVIDED FOR HEREIN SHALL BE
ALLOWED WITH RESPECT TO THE TAXABLE YEAR COMMENCING IN WHICH THE SECURI-
TY CAMERA SYSTEM IS INSTALLED.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13781-05-6

A. 9387--A                          2

  (D) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT,  AND  CARRYOVERS
OF  SUCH  CREDIT,  ALLOWABLE  UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
CARRIED OVER TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE  TAXABLE  YEAR
WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S  2. Section 606 of the tax law is amended by adding a new subsection
(v) to read as follows:
  (V) CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY CAMERA SYSTEM  ON
RESIDENTIAL  PROPERTY LOCATED IN CITIES WITH A POPULATION OF ONE MILLION
OR MORE. (1) ALLOWANCE OF CREDIT. IN CITIES WITH  A  POPULATION  OF  ONE
MILLION  OR  MORE,  A  TAXPAYER  WHO  IS  A HOMEOWNER SHALL BE ALLOWED A
ONE-TIME CREDIT FOR PURCHASE  AND  INSTALLATION  OF  A  SECURITY  CAMERA
SYSTEM  ON A RESIDENTIAL PROPERTY, TO BE COMPUTED AS PROVIDED IN SECTION
FORTY-TWO OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
  (2) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT,  AND  CARRYOVERS
OF  SUCH  CREDIT,  ALLOWABLE  UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
CARRIED OVER TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE  TAXABLE  YEAR
WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S  3.  The tax law is amended by adding a new section 187-t to read as
follows:
  S 187-T. CREDIT FOR PURCHASE AND INSTALLATION  OF  A  SECURITY  CAMERA
SYSTEM  ON PROPERTY LOCATED IN CITIES WITH POPULATIONS OF ONE MILLION OR
MORE PERSONS. 1.  ALLOWANCE OF CREDIT. A TAXPAYER  SHALL  BE  ALLOWED  A
CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-TWO OF THIS CHAPTER,
AGAINST  THE  TAXES  IMPOSED  BY  SECTIONS ONE HUNDRED EIGHTY-THREE, ONE
HUNDRED  EIGHTY-FOUR  AND  ONE  HUNDRED  EIGHTY-FIVE  OF  THIS  ARTICLE.
PROVIDED,  HOWEVER, THAT THE AMOUNT OF SUCH CREDIT ALLOWABLE AGAINST THE
TAX IMPOSED BY SECTION ONE HUNDRED EIGHTY-FOUR OF THIS ARTICLE SHALL  BE
THE  EXCESS  OF  THE AMOUNT OF SUCH CREDIT OVER THE AMOUNT OF ANY CREDIT
ALLOWED BY THIS SECTION AGAINST THE TAX IMPOSED BY SECTION  ONE  HUNDRED
EIGHTY-THREE OF THIS ARTICLE.
  2.  APPLICATION  OF  CREDIT.  IN  NO EVENT SHALL THE CREDIT UNDER THIS
SECTION BE ALLOWED IN AN AMOUNT WHICH WILL REDUCE  THE  TAX  PAYABLE  TO
LESS THAN THE APPLICABLE MINIMUM TAX FIXED BY SECTION ONE HUNDRED EIGHT-
Y-THREE  OR  ONE  HUNDRED  EIGHTY-FIVE OF THIS ARTICLE. IF, HOWEVER, THE
AMOUNT OF CREDIT ALLOWABLE UNDER  THIS  SECTION  FOR  ANY  TAXABLE  YEAR
REDUCES  THE  TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN
SUCH TAXABLE YEAR SHALL BE TREATED  AS  AN  OVERPAYMENT  OF  TAX  TO  BE
REFUNDED  IN  ACCORDANCE  WITH  THE  PROVISIONS  OF SECTION ONE THOUSAND
EIGHTY-SIX  OF  THIS  CHAPTER.  PROVIDED,  HOWEVER,  THE  PROVISIONS  OF
SUBSECTION  (C)  OF  SECTION  ONE  THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
  S 4. Section 210-B of the tax law is amended by adding a new  subdivi-
sion 51 to read as follows:
  51.  CREDIT  FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON PROPERTY LOCATED IN CITIES WITH POPULATIONS OF ONE  MILLION  OR  MORE
PERSONS.  (A) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
TO BE COMPUTED AS PROVIDED IN SUBDIVISION (A) OF  SECTION  FORTY-TWO  OF
THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
  (B)  APPLICATION  OF  CREDIT.  IN NO EVENT SHALL THE CREDIT UNDER THIS
SECTION BE ALLOWED IN AN AMOUNT WHICH WILL REDUCE THE TAX TO  LESS  THAN
THE  AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D)  OF  SUBDIVISION ONE OF THIS
SECTION. IF, HOWEVER, THE AMOUNT OF CREDIT ALLOWED  UNDER  THIS  SECTION

A. 9387--A                          3

FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CRED-
IT  NOT  DEDUCTIBLE IN SUCH TAXABLE YEAR SHALL BE TREATED AS AN OVERPAY-
MENT OF TAX TO BE REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF  SECTION
ONE  THOUSAND  EIGHTY-SIX  OF  THIS  CHAPTER,  PROVIDED HOWEVER, THAT NO
INTEREST SHALL BE PAID THEREON.
  S 5. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended by adding a new clause (xliii) to read as
follows:
(XLIII) CREDIT FOR PURCHASE          AMOUNT OF CREDIT UNDER
AND TAX INSTALLATION OF A            SECTION FORTY-TWO
SECURITY CAMERA SYSTEM UNDER
SUBSECTION (V)
  S 6. Section 1511 of the tax law is amended by adding a  new  subdivi-
sion (dd) to read as follows:
  (DD)  CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON PROPERTY LOCATED IN CITIES WITH POPULATIONS OF ONE  MILLION  OR  MORE
PERSONS.  (1) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
TO BE COMPUTED AS PROVIDED IN SECTION FORTY-TWO OF THIS CHAPTER, AGAINST
THE TAXES IMPOSED BY THIS ARTICLE.
  (2) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
FOR  ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
THAN THE MINIMUM FIXED BY PARAGRAPH FOUR OF SUBDIVISION (A)  OF  SECTION
FIFTEEN  HUNDRED  TWO OF THIS ARTICLE. HOWEVER, IF THE AMOUNT OF CREDITS
ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE  TAX  TO
SUCH  AMOUNT,  ANY  AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN SUCH TAXABLE
YEAR SHALL BE TREATED AS  AN  OVERPAYMENT  OF  TAX  TO  BE  CREDITED  OR
REFUNDED  IN  ACCORDANCE  WITH  THE  PROVISIONS  OF SECTION ONE THOUSAND
EIGHTY-SIX OF THIS  CHAPTER.    PROVIDED,  HOWEVER,  THE  PROVISIONS  OF
SUBSECTION  (C)  OF  SECTION  ONE  THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
  S 7. This act shall take effect January 1, 2017; provided, however, if
this act shall become a law after such date it shall take  effect  imme-
diately and shall be deemed to have been in full force and effect on and
after January 1, 2017.

co-Sponsors

View additional co-sponsors

multi-Sponsors

2015-A9387B (ACTIVE) - Details

See Senate Version of this Bill:: S6937
Current Committee:: Assembly Ways And Means
Law Section:: Tax Law
Laws Affected:: Add §§43 & 187-t, amd §§606, 210-B & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2017-2018: A6264, S3480
2019-2020: A7322
2021-2022: A2537
2023-2024: A1617

2015-A9387B (ACTIVE) - Summary

Establishes a tax credit for the purchase and installation of a security camera system on residential, commercial and non-profit owned properties.

2015-A9387B (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 9387--B

                          I N  A S S E M B L Y

                            February 29, 2016
                               ___________

Introduced by M. of A. HIKIND, CRESPO, HOOPER, BLAKE, HYNDMAN, SEPULVEDA
  --  Multi-Sponsored  by  --  M. of A. ABBATE, BRENNAN -- read once and
  referred to the Committee on Ways and Means --  committee  discharged,
  bill  amended,  ordered  reprinted  as amended and recommitted to said
  committee -- again  reported  from  said  committee  with  amendments,
  ordered reprinted as amended and recommitted to said committee

AN  ACT  to  amend the tax law, in relation to establishment of a credit
  for the purchase and installation of a security camera system on resi-
  dential-, commercial- and non-profit owned properties

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The tax law is amended by adding a new section 43 to read
as follows:
  S 43. CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON PROPERTY LOCATED IN NEW YORK STATE.   (A) ALLOWANCE  OF  CREDIT.    A
PROPERTY  OWNER WHO IS SUBJECT TO TAX UNDER ARTICLES NINE, NINE-A, TWEN-
TY-TWO, THIRTY-TWO OR THIRTY-THREE OF THIS CHAPTER, SHALL BE  ALLOWED  A
ONE-TIME  CREDIT AGAINST SUCH TAX FOR THE PURCHASE AND INSTALLATION OF A
QUALIFIED SECURITY CAMERA SYSTEM ON  A  PROPERTY  LOCATED  IN  NEW  YORK
STATE.    THE  AMOUNT OF SUCH CREDIT SHALL BE FIVE HUNDRED DOLLARS.  THE
CREDIT SHALL BE ALLOWABLE FOR OWNERS OF RESIDENTIAL OR COMMERCIAL  PROP-
ERTIES AND FOR PROPERTY OWNERS INCORPORATED PURSUANT TO THE TERMS OF THE
NOT-FOR-PROFIT  CORPORATION  LAW.    A  PROPERTY OWNER CLAIMING A CREDIT
AGAINST TAX AS PROVIDED IN THIS SECTION MAY CLAIM IT  AGAINST  TAX  OWED
UNDER ONLY ONE ARTICLE OF THIS CHAPTER.
  (B)  DEFINITIONS.  THE  TERM  "QUALIFIED SECURITY CAMERA SYSTEM" MEANS
EXPENDITURES FOR THE PURCHASE OF A CAMERA SYSTEM,  MATERIALS  AND  LABOR
COSTS  PROPERLY  ALLOCABLE TO ON-SITE PREPARATION, ASSEMBLY AND ORIGINAL
INSTALLATION. SUCH CAMERA SYSTEM SHALL BE CAPABLE OF RECORDING AND STOR-
ING CAMERA FOOTAGE FOR UP TO FORTY-EIGHT HOURS.
  (C) WHEN CREDIT ALLOWED. THE  CREDIT  PROVIDED  FOR  HEREIN  SHALL  BE
ALLOWED WITH RESPECT TO THE TAXABLE YEAR COMMENCING IN WHICH THE SECURI-
TY CAMERA SYSTEM IS INSTALLED.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13781-07-6

A. 9387--B                          2

  (D)  CARRYOVER  OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS
OF SUCH CREDIT, ALLOWABLE UNDER THIS SUBSECTION  FOR  ANY  TAXABLE  YEAR
SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
CARRIED  OVER  TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE TAXABLE YEAR
WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S  2. Section 606 of the tax law is amended by adding a new subsection
(v) to read as follows:
  (V) CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY CAMERA SYSTEM  ON
RESIDENTIAL  PROPERTY LOCATED IN NEW YORK STATE.  (1) ALLOWANCE OF CRED-
IT.  A TAXPAYER WHO IS A HOMEOWNER SHALL BE ALLOWED  A  ONE-TIME  CREDIT
FOR  PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM ON A RESIDEN-
TIAL PROPERTY OWNED BY SUCH TAXPAYER AND LOCATED IN NEW YORK  STATE,  TO
BE  COMPUTED AS PROVIDED IN SECTION FORTY-THREE OF THIS CHAPTER, AGAINST
THE TAX IMPOSED BY THIS ARTICLE.
  (2) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT,  AND  CARRYOVERS
OF  SUCH  CREDIT,  ALLOWABLE  UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, SUCH EXCESS AMOUNT MAY BE
CARRIED OVER TO THE FIVE TAXABLE YEARS NEXT FOLLOWING THE  TAXABLE  YEAR
WITH RESPECT TO WHICH THE CREDIT IS ALLOWED AND MAY BE DEDUCTED FROM THE
TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S  3.  The tax law is amended by adding a new section 187-t to read as
follows:
  S 187-T. CREDIT FOR PURCHASE AND INSTALLATION  OF  A  SECURITY  CAMERA
SYSTEM ON PROPERTY LOCATED IN NEW YORK STATE. 1.  ALLOWANCE OF CREDIT. A
TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT,  TO  BE COMPUTED AS PROVIDED IN
SECTION FORTY-THREE THIS CHAPTER, AGAINST THE TAXES IMPOSED BY  SECTIONS
ONE HUNDRED EIGHTY-THREE, ONE HUNDRED EIGHTY-FOUR AND ONE HUNDRED EIGHT-
Y-FIVE  OF  THIS  ARTICLE.    PROVIDED, HOWEVER, THAT THE AMOUNT OF SUCH
CREDIT ALLOWABLE AGAINST THE TAX IMPOSED BY SECTION ONE HUNDRED  EIGHTY-
FOUR  OF  THIS  ARTICLE SHALL BE THE EXCESS OF THE AMOUNT OF SUCH CREDIT
OVER THE AMOUNT OF ANY CREDIT ALLOWED BY THIS SECTION  AGAINST  THE  TAX
IMPOSED BY SECTION ONE HUNDRED EIGHTY-THREE OF THIS ARTICLE.
  2.  APPLICATION  OF  CREDIT.  IN  NO EVENT SHALL THE CREDIT UNDER THIS
SECTION BE ALLOWED IN AN AMOUNT WHICH WILL REDUCE  THE  TAX  PAYABLE  TO
LESS THAN THE APPLICABLE MINIMUM TAX FIXED BY SECTION ONE HUNDRED EIGHT-
Y-THREE  OR  ONE  HUNDRED  EIGHTY-FIVE OF THIS ARTICLE. IF, HOWEVER, THE
AMOUNT OF CREDIT ALLOWABLE UNDER  THIS  SECTION  FOR  ANY  TAXABLE  YEAR
REDUCES  THE  TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN
SUCH TAXABLE YEAR SHALL BE TREATED  AS  AN  OVERPAYMENT  OF  TAX  TO  BE
REFUNDED  IN  ACCORDANCE  WITH  THE  PROVISIONS  OF SECTION ONE THOUSAND
EIGHTY-SIX  OF  THIS  CHAPTER.  PROVIDED,  HOWEVER,  THE  PROVISIONS  OF
SUBSECTION  (C)  OF  SECTION  ONE  THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
  S 4. Section 210-B of the tax law is amended by adding a new  subdivi-
sion 52 to read as follows:
  52.  CREDIT  FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON PROPERTY LOCATED IN NEW  YORK  STATE.  (A)  ALLOWANCE  OF  CREDIT.  A
TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SUBDI-
VISION  (A)  OF  SECTION  FORTY-THREE  OF  THIS CHAPTER, AGAINST THE TAX
IMPOSED BY THIS ARTICLE.
  (B) APPLICATION OF CREDIT. IN NO EVENT SHALL  THE  CREDIT  UNDER  THIS
SECTION  BE  ALLOWED IN AN AMOUNT WHICH WILL REDUCE THE TAX TO LESS THAN
THE AMOUNT PRESCRIBED IN  PARAGRAPH  (D)  OF  SUBDIVISION  ONE  OF  THIS
SECTION.  IF,  HOWEVER,  THE AMOUNT OF CREDIT ALLOWED UNDER THIS SECTION
FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CRED-

A. 9387--B                          3

IT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR SHALL BE TREATED AS  AN  OVERPAY-
MENT  OF TAX TO BE REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION
ONE THOUSAND EIGHTY-SIX OF  THIS  CHAPTER,  PROVIDED  HOWEVER,  THAT  NO
INTEREST SHALL BE PAID THEREON.
  S  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new  clause  (xliii)  to  read  as
follows:
(XLIII) CREDIT FOR PURCHASE          AMOUNT OF CREDIT UNDER
AND TAX INSTALLATION OF A            SECTION FORTY-THREE
SECURITY CAMERA SYSTEM UNDER
SUBSECTION (V)
  S  6.  Section 1511 of the tax law is amended by adding a new subdivi-
sion (dd) to read as follows:
  (DD) CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA  SYSTEM
ON  PROPERTY  LOCATED  IN  NEW  YORK  STATE.  (1) ALLOWANCE OF CREDIT. A
TAXPAYER SHALL BE ALLOWED A  CREDIT,  TO  BE  COMPUTED  AS  PROVIDED  IN
SECTION  FORTY-THREE  OF THIS CHAPTER, AGAINST THE TAXES IMPOSED BY THIS
ARTICLE.
  (2) APPLICATION OF CREDIT. THE CREDIT ALLOWED UNDER  THIS  SUBDIVISION
FOR  ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS
THAN THE MINIMUM FIXED BY PARAGRAPH FOUR OF SUBDIVISION (A)  OF  SECTION
FIFTEEN  HUNDRED  TWO OF THIS ARTICLE. HOWEVER, IF THE AMOUNT OF CREDITS
ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE  TAX  TO
SUCH  AMOUNT,  ANY  AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN SUCH TAXABLE
YEAR SHALL BE TREATED AS  AN  OVERPAYMENT  OF  TAX  TO  BE  CREDITED  OR
REFUNDED  IN  ACCORDANCE  WITH  THE  PROVISIONS  OF SECTION ONE THOUSAND
EIGHTY-SIX OF THIS  CHAPTER.    PROVIDED,  HOWEVER,  THE  PROVISIONS  OF
SUBSECTION  (C)  OF  SECTION  ONE  THOUSAND EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
  S 7. This act shall take effect January 1, 2017; provided, however, if
this act shall become a law after such date it shall take  effect  imme-
diately and shall be deemed to have been in full force and effect on and
after January 1, 2017.

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Assembly Bill A9387B

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Sponsored By

HIKIND

Archive: Last Bill Status - In Assembly Committee

Bill Amendments

co-Sponsors

Marcos Crespo

Earlene Hooper

Michael Blake

Alicia Hyndman

multi-Sponsors

Peter Abbate

James F. Brennan

2015-A9387 - Details

2015-A9387 - Summary

2015-A9387 - Bill Text download pdf

co-Sponsors

Marcos Crespo

Earlene Hooper

Michael Blake

Alicia Hyndman

multi-Sponsors

Peter Abbate

James F. Brennan

2015-A9387A - Details

2015-A9387A - Summary

2015-A9387A - Bill Text download pdf

co-Sponsors

Marcos Crespo

Earlene Hooper

Michael Blake

Alicia Hyndman

multi-Sponsors

Peter Abbate

James F. Brennan

2015-A9387B (ACTIVE) - Details

2015-A9387B (ACTIVE) - Summary

2015-A9387B (ACTIVE) - Bill Text download pdf

Comments