senate Bill S6797A

Provides a tax credit for the purchase and installation of a security system

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 22 / Mar / 2012
    • REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 14 / May / 2012
    • AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • 14 / May / 2012
    • PRINT NUMBER 6797A
  • 31 / May / 2012
    • REPORTED AND COMMITTED TO FINANCE

Summary

Provides a one time tax credit in the amount of $500 for the purchase and installation of a security system.

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Bill Details

See Assembly Version of this Bill:
A9231A
Versions:
S6797
S6797A
Legislative Cycle:
2011-2012
Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd ยงยง210, 606, 1456 & 1511, Tax L

Votes

5
0
5
Aye
0
Nay
2
aye with reservations
0
absent
1
excused
0
abstained
show Investigations and Government Operations committee vote details
aye wr (2)
excused (1)

Sponsor Memo

BILL NUMBER:S6797A

TITLE OF BILL:
An act
to amend the tax law, in relation to providing a tax credit for
the purchase and installation of a security system

PURPOSE:
The purpose of the bill is to establish a tax credit for home
owners or businesses that install security systems.

SUMMARY OF PROVISIONS:
Section 210 of the tax law will be amended by
adding a new subdivision that will include a tax credit up to five
hundred dollars if residents purchase and install surveillance
systems. The act requires residents to register their system with the
division of homeland security and emergency services.

JUSTIFICATION:
This act will provide residents with a greater incentive
to not only purchase and install security systems, but also register
their systems. With the registration, homeland security and emergency
services will be able to detect crimes within the area. The registry
will also keep track of how many people have security systems in a
given area. This act will promote safety with an increase in
equipment that will detect intrusion, break-in, movement, sound or
fire. Taxpayers will not be allowed a tax credit under this
subdivision if they have previously received such credit.

PRIOR LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE
:
This act shall take effect immediately and shall apply
to taxable years commencing on or after January 1, 2013.

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

                                 6797--A

                            I N  S E N A T E

                             March 22, 2012
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment  Operations  --  committee  discharged,  bill  amended,   ordered
  reprinted as amended and recommitted to said committee

AN  ACT  to amend the tax law, in relation to providing a tax credit for
  the purchase and installation of a security system

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

  Section  1.  Section  210  of  the  tax law is amended by adding a new
subdivision 24-a to read as follows:
  24-A. CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY SYSTEM.  (A)  A
TAXPAYER  SHALL  BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS
SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR THE  PURCHASE,
OTHER  THAN  FOR  RESALE,  OF  A SECURITY SYSTEM, PROVIDED SUCH TAXPAYER
REGISTERS SUCH SYSTEM WITH THE DIVISION OF HOMELAND SECURITY  AND  EMER-
GENCY  SERVICES. THE AMOUNT OF CREDIT SHALL EQUAL THE AMOUNT PAID BY THE
TAXPAYER DURING THE TAXABLE YEAR, UP TO FIVE HUNDRED  DOLLARS,  FOR  THE
PURCHASE AND INSTALLATION OF ANY SECURITY SYSTEM.
  (B) FOR THE PURPOSES OF THIS SUBDIVISION, "SECURITY SYSTEM" IS DEFINED
AS  A  CLOSED-CIRCUIT  TELEVISION  OR  OTHER  ELECTRONIC SECURITY SYSTEM
INSTALLED TO DETECT INTRUSION, BREAK-IN, MOVEMENT, SOUND OR FIRE.
  (C) A TAXPAYER SHALL NOT BE ALLOWED A TAX CREDIT UNDER  THIS  SUBDIVI-
SION IF SUCH TAXPAYER PREVIOUSLY RECEIVED A TAX CREDIT UNDER THIS SUBDI-
VISION.
  (D)  THE  CREDIT  ALLOWED  UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR
WILL NOT REDUCE THE TAX DUE FOR  SUCH  YEAR  TO  LESS  THAN  THE  AMOUNT
PRESCRIBED IN PARAGRAPH (D) OF SUBDIVISION ONE OF THIS SECTION. HOWEVER,
IF  THE  AMOUNT OF CREDIT 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 WILL 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 WILL BE PAID THEREON.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14237-02-2

S. 6797--A                          2

  S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended by adding a new clause (xxxiv) to read as
follows:

(XXXIV) CREDIT FOR PURCHASE          PURCHASE AND INSTALLATION
AND INSTALLATION OF A                COSTS OF A SECURITY SYSTEM
SECURITY SYSTEM                      UNDER SUBDIVISION
UNDER SUBSECTION (S-1)               TWENTY-FOUR-A OF SECTION
                                     TWO HUNDRED TEN OR
                                     SUBSECTION (J-1) OF
                                     SECTION FOURTEEN HUNDRED
                                     FIFTY-SIX
  S  3. Section 606 of the tax law is amended by adding a new subsection
(s-1) to read as follows:
  (S-1) (1) CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY SYSTEM. A
TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED, AGAINST  THE
TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLATION OF A SECU-
RITY  SYSTEM,  AS  SUCH  TERM IS DEFINED IN SUBDIVISION TWENTY-FOUR-A OF
SECTION TWO HUNDRED TEN OF THIS CHAPTER, PROVIDED SUCH  TAXPAYER  REGIS-
TERS  SUCH  SYSTEM  WITH THE DIVISION OF HOMELAND SECURITY AND EMERGENCY
SERVICES.   THE AMOUNT OF CREDIT SHALL EQUAL  THE  AMOUNT  PAID  BY  THE
TAXPAYER  DURING  THE  TAXABLE YEAR, UP TO FIVE HUNDRED DOLLARS, FOR THE
PURCHASE AND INSTALLATION OF ANY SECURITY SYSTEM. A TAXPAYER  SHALL  NOT
BE ALLOWED A TAX CREDIT UNDER THIS SUBSECTION IF SUCH TAXPAYER PREVIOUS-
LY RECEIVED A TAX CREDIT UNDER THIS SUBSECTION.
  (2)  IF  THE  AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION SHALL
EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL BE TREATED  AS
AN  OVERPAYMENT OF TAX TO BE CREDITED 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.
  S 4. Section 1456 of the tax law is amended by adding a new subsection
(j-1) to read as follows:
  (J-1)  (1)  CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY SYSTEM.
A TAXPAYER SHALL BE ALLOWED A CREDIT AS  PROVIDED  IN  THIS  SUBSECTION,
AGAINST  THE  TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLA-
TION OF A SECURITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION  TWEN-
TY-FOUR-A  OF  SECTION  TWO  HUNDRED  TEN OF THIS CHAPTER, PROVIDED SUCH
TAXPAYER REGISTERS SUCH SYSTEM WITH THE DIVISION  OF  HOMELAND  SECURITY
AND EMERGENCY SERVICES. THE AMOUNT OF CREDIT SHALL EQUAL THE AMOUNT PAID
BY THE TAXPAYER DURING THE TAXABLE YEAR, UP TO FIVE HUNDRED DOLLARS, FOR
THE PURCHASE AND INSTALLATION OF ANY SECURITY SYSTEM. THE CREDIT ALLOWED
UNDER  THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE
FOR SUCH YEAR TO LESS THAN THE MINIMUM TAX FIXED BY  SUBSECTION  (B)  OF
SECTION  FOURTEEN  HUNDRED  FIFTY-FIVE OF THIS ARTICLE. A TAXPAYER SHALL
NOT BE ALLOWED A TAX CREDIT  UNDER  THIS  SUBSECTION  IF  SUCH  TAXPAYER
PREVIOUSLY RECEIVED A TAX CREDIT UNDER THIS SUBSECTION.
  (2) HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBSECTION FOR
ANY  TAXABLE  YEAR  REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT
THUS NOT DEDUCTIBLE IN SUCH TAXABLE YEAR WILL BE TREATED AS AN  OVERPAY-
MENT 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 WILL BE PAID THEREON.
  S 5. Section 1511 of the tax law is amended by adding a  new  subdivi-
sion (1-1) to read as follows:

S. 6797--A                          3

  (1-1)  (1)  CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY SYSTEM. A
TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED, AGAINST  THE
TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLATION OF A SECU-
RITY    SYSTEM,  AS SUCH TERM IS DEFINED IN SUBDIVISION TWENTY-FOUR-A OF
SECTION TWO HUNDRED TEN OF THIS CHAPTER PROVIDED SUCH TAXPAYER REGISTERS
SUCH  SYSTEM  WITH  THE  DIVISION  OF  HOMELAND  SECURITY  AND EMERGENCY
SERVICES.   THE AMOUNT OF CREDIT SHALL EQUAL  THE  AMOUNT  PAID  BY  THE
TAXPAYER  DURING  THE  TAXABLE YEAR, UP TO FIVE HUNDRED DOLLARS, FOR THE
PURCHASE AND INSTALLATION OF ANY SECURITY  SYSTEM.  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 SUBDI-
VISION  (A)  OF  SECTION FIFTEEN HUNDRED TWO OF THIS ARTICLE. A TAXPAYER
SHALL NOT BE ALLOWED A TAX CREDIT UNDER THIS SUBDIVISION IF SUCH TAXPAY-
ER PREVIOUSLY RECEIVED A TAX CREDIT UNDER THIS SUBDIVISION.
  (2) HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBSECTION FOR
ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY  AMOUNT  OF  CREDIT
THUS  NOT DEDUCTIBLE IN SUCH TAXABLE YEAR WILL BE TREATED AS AN OVERPAY-
MENT 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 WILL BE PAID THEREON.
  S 6. This act shall take effect immediately and shall apply to taxable
years commencing on or after January 1, 2013.

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