senate Bill S6797A

2011-2012 Legislative Session

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

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Archive: Last Bill Status -


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

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 31, 2012 reported and committed to finance
May 14, 2012 print number 6797a
amend and recommit to investigations and government operations
Mar 22, 2012 referred to investigations and government operations

Votes

view votes

May 31, 2012 - Investigations and Government Operations committee Vote

S6797A
5
0
committee
5
Aye
0
Nay
2
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: May 31, 2012

aye wr (2)
excused (1)

S6797 - Details

See Assembly Version of this Bill:
A9231A
Law Section:
Tax Law
Laws Affected:
Amd §§210, 606, 1456 & 1511, Tax L

S6797 - Summary

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

S6797 - Sponsor Memo

S6797 - Bill Text download pdf

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

                                  6797

                            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

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.
  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

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

S6797A (ACTIVE) - Details

See Assembly Version of this Bill:
A9231A
Law Section:
Tax Law
Laws Affected:
Amd §§210, 606, 1456 & 1511, Tax L

S6797A (ACTIVE) - Summary

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

S6797A (ACTIVE) - Sponsor Memo

S6797A (ACTIVE) - Bill Text download pdf

                    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.

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