NY State Senate Bill 2017-S5514

Senate Bill S5514

2017-2018 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 Senate Committee Investigations And Government Operations 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
Jan 03, 2018	referred to investigations and government operations
Apr 04, 2017	referred to investigations and government operations

2017-S5514 (ACTIVE) - Details

See Assembly Version of this Bill:: A6264
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Add §§43 & 187-t, amd §§606, 210-B & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2015-2016: A9387
2019-2020: A7322
2021-2022: A2537
2023-2024: A1617

2017-S5514 (ACTIVE) - Summary

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

2017-S5514 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S5514

 TITLE OF BILL :  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 residential-, commercial- and non-profit
owned properties in cities having a population of one million or more
persons

 PURPOSE OR GENERAL IDEA OF BILL :

This bill will establish a one-time tax credit for purchase and
installation of a security system in residential and commercial
properties.

 SUMMARY OF PROVISIONS :

Section one amends section 43 of the Tax Law by adding a new section
allowing residential and commercial property owners a one-time five
hundred dollar credit against taxes for the purchase and installation
of a qualified security camera system on a property. The credit will
be allowed in the taxable year in which the system is installed.

Section two amends section 606 of the Tax Law, allowing a one-time tax
credit to homeowners who purchase and install a security camera system
on a residential property. If the amount of the credit exceeds the
taxpayer's tax for the year, the excess may be carried over to the

next five taxable years.

Section three amends the Tax Law by adding a new section 187-t to
allow a credit for the purchase and installation of a security camera
system on property located in a city having a population of one
million or more persons. If the credit amount reduces the taxable
amount to less than the applicable minimum tax, any amount not
deducted in the tax year shall be treated as an overpayment to be
refunded.

Section four amends section 210-B of the Tax Law to allow a credit for
the purchase and installation of a security camera system at a
commercial property. If the credit amount reduces the taxable amount
to less than the applicable minimum tax, any amount not deducted in
the tax year shall be treated as an overpayment to be refunded.

Section five amends section 606 of the tax law by adding a new clause
(xliii) with reference to a tax credit for individual homeowners.

Section six amends section 1511 of the tax law by adding a new
subdivision (dd) allowing a onetime franchise tax credit to insurance
companies.

Section seven provides that this act shall take effect January 1,
2018; provided, however, if this act shall become law after such date
it shall take effect immediately and shall be deemed to have been in
full force and effect on and after January 1, 2018.

 JUSTIFICATION :

New York State has a responsibility to keep all of its communities
safe from crime. This proposal will make the purchase of this
equipment more affordable by offering a $500 tax credit on such
purchases.

Private security camera systems have proven to be an indispensable and
effective tool for law enforcement officials when solving crimes.
Video from these systems have assisted police in identifying and
prosecuting perpetrators whom otherwise would have escaped justice.
Community residents should feel that their home or place of business
is safe from those committing robberies or thefts. This bill will
offer homeowners and commercial property owners an incentive to
install such a system, which may offer deterrence to such actions.

 PRIOR LEGISLATIVE HISTORY :

New Bill

 FISCAL IMPLICATIONS :

To be determined

 EFFECTIVE DATE :
This act shall take effect January 1, 2018; provided, however, if this
act shall become law after such date it shall take effect immediately
and shall be deemed to have been in full force and effect on and after
January 1, 2018.

2017-S5514 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5514
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               April 4, 2017
                                ___________
 
 Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 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 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 43  to  read
 as follows:
   § 43. CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
 ON PROPERTY LOCATED IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE
 PERSONS.    (A)  ALLOWANCE OF CREDIT. 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  LOCATED  IN  A CITY HAVING A POPULATION OF ONE MILLION OR MORE
 PERSONS.  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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00184-04-7

 S. 5514                             2
 
   (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
 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.
   § 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 A SECURITY CAMERA SYSTEM
 ON RESIDENTIAL PROPERTY LOCATED IN A CITY HAVING  A  POPULATION  OF  ONE
 MILLION  OR MORE PERSONS.  (1) ALLOWANCE OF CREDIT.  A TAXPAYER WHO IS A
 HOMEOWNER SHALL BE ALLOWED A ONE-TIME CREDIT FOR PURCHASE AND  INSTALLA-
 TION OF A SECURITY CAMERA SYSTEM ON A RESIDENTIAL PROPERTY OWNED BY SUCH
 TAXPAYER  AND  LOCATED  IN  A CITY HAVING A POPULATION OF ONE MILLION OR
 MORE PERSONS, 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.
   § 3. The tax law is amended by adding a new section 187-t to  read  as
 follows:
   §  187-T.  CREDIT  FOR  PURCHASE AND INSTALLATION OF A SECURITY CAMERA
 SYSTEM ON PROPERTY LOCATED IN A CITY HAVING A POPULATION 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-THREE 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.
   § 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 A CITY HAVING A POPULATION 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-THREE  OF
 THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.

 S. 5514                             3
 
   (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
 ONE  THOUSAND  EIGHTY-SIX  OF  THIS  CHAPTER,  PROVIDED HOWEVER, THAT NO
 INTEREST SHALL BE PAID THEREON.
   § 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)
   § 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 A CITY HAVING A POPULATION 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-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.
   § 7. This act shall take effect January 1, 2018; 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, 2018.

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