S T A T E   O F   N E W   Y O R K
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                                   7322
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 22, 2019
                                ___________
 
 Introduced  by  M.  of  A.  EICHENSTEIN -- 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- and commercial-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 45  to  read
 as follows:
   § 45. 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  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.
   (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.
              

                                                            LBD11157-02-9

 A. 7322                             2
 
   (D) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT,  AND  CARRYOVERS
 OF  SUCH CREDIT, ALLOWABLE UNDER THIS SECTION 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-FIVE 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-q to read as
 follows:
   § 187-Q. 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-FIVE OF THIS CHAP-
 TER, AGAINST THE TAXES IMPOSED BY SECTIONS ONE HUNDRED EIGHTY-THREE  AND
 ONE  HUNDRED  EIGHTY-FOUR  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  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 TREAT-
 ED  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 EIGHT-
 Y-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE PAID THER-
 EON.
   § 4. Section 210-B of the tax law is amended by adding a new  subdivi-
 sion 54 to read as follows:
   54.  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 SUBSECTION (A) OF  SECTION  FORTY-FIVE  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

 A. 7322                             3
 
 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  (xlv)  to  read  as
 follows:
 (XLV) CREDIT FOR PURCHASE            AMOUNT OF CREDIT UNDER
 AND TAX INSTALLATION OF A            SECTION FORTY-FIVE
 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-FIVE 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, 2020; 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, 2020.