S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1617
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2023
                                ___________
 
 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 48  to  read
 as follows:
   § 48. 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 ARTICLE NINE, NINE-A, TWENTY-TWO OR THIRTY-THREE OF THIS CHAP-
 TER, 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.
                                                            LBD00131-02-3
              

 A. 1617                             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
 (w) to read as follows:
   (W) 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-EIGHT 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-r to read as
 follows:
   § 187-R. 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-EIGHT 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 59 to read as follows:
   59.  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-EIGHT  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. 1617                             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 (l) to read as follows:
 (L) CREDIT FOR PURCHASE              AMOUNT OF CREDIT UNDER
 AND TAX INSTALLATION OF A            SUBDIVISION FIFTY-NINE OF SECTION
 SECURITY CAMERA SYSTEM UNDER         210-B
 SUBSECTION (W)
   § 6. Section 1511 of the tax law is amended by adding a  new  subdivi-
 sion (ee) to read as follows:
   (EE)  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-EIGHT  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 on the first of January next succeed-
 ing the date upon which it shall have become a law.