Senate Bill S6234

2023-2024 Legislative Session

Establishes a personal income tax credit for the purchase of a gun safe

download bill text pdf

Sponsored By

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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2023-S6234 (ACTIVE) - Details

See Assembly Version of this Bill:
A6892
Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7174
2015-2016: S3471
2017-2018: S5757
2019-2020: S813
2021-2022: S4300

2023-S6234 (ACTIVE) - Summary

Establishes up to a $500 personal income tax credit for the purchase of a gun safe.

2023-S6234 (ACTIVE) - Sponsor Memo

2023-S6234 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6234
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               April 5, 2023
                                ___________
 
 Introduced  by  Sen.  LANZA  -- 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  establishing  a  personal
   income tax credit for the purchase of a gun safe

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (ooo) to read as follows:
   (OOO)  GUN  SAFE  CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE
 ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE  AMOUNT
 INCURRED  BY  THE TAXPAYER DURING THE TAXABLE YEAR FOR THE PURCHASE OF A
 GUN SAFE.
   (2) CREDIT LIMITATION. THE AMOUNT OF THE CREDIT THAT MAY BE CLAIMED BY
 A TAXPAYER PURSUANT TO THIS SUBSECTION SHALL  NOT  EXCEED  FIVE  HUNDRED
 DOLLARS  IN  ANY  TAXABLE  YEAR, AND SUCH CREDIT MAY BE CLAIMED NOT MORE
 FREQUENTLY THAN ONCE EVERY TEN TAXABLE YEARS.
   (3) APPLICATION OF CREDIT. IF THE AMOUNT  OF  THE  CREDIT  UNDER  THIS
 SUBSECTION  FOR  A TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION SIX  HUNDRED
 EIGHTY-SIX OF THIS ARTICLE; PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE
 PAID THEREON.
   §  2.  This  act shall take effect immediately, and shall apply to the
 taxable year in which it takes effect and all subsequent taxable years.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09780-01-3

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