S T A T E O F N E W Y O R K
________________________________________________________________________
6593
2015-2016 Regular Sessions
I N A S S E M B L Y
March 27, 2015
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Introduced by M. of A. CRESPO -- Multi-Sponsored by -- M. of A. ARROYO,
MOYA, ORTIZ, RAMOS, RIVERA, RODRIGUEZ -- 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 purchase and installation of security camera system in convenience
stores located in cities with a population of one hundred fifty thou-
sand or more
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 42 to read
as follows:
S 42. CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY CAMERA SYSTEM
IN CONVENIENCE STORES LOCATED IN CITIES WITH A POPULATION OF ONE HUNDRED
FIFTY THOUSAND OR MORE. (A) ALLOWANCE OF CREDIT. IN CITIES WITH A POPU-
LATION OF ONE HUNDRED FIFTY THOUSAND OR MORE, A CORPORATION OR A SOLE
PROPRIETOR OPERATING A CONVENIENCE STORE OR "BODEGA" SELLING GROCERIES,
WHICH IS SUBJECT TO TAX UNDER ARTICLE NINE OR TWENTY-TWO 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 STORE
PREMISES. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO SEVENTY-FIVE
PERCENT OF THE EXPENDITURE INCURRED IN PURCHASING AND INSTALLING ANY
SUCH QUALIFIED SECURITY CAMERA SYSTEM IN A CONVENIENCE STORE OR "BODE-
GA", BUT NOT TO EXCEED THE MAXIMUM CREDIT OF ONE THOUSAND FIVE HUNDRED
DOLLARS.
(B) DEFINITION. 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 QUALIFIED EXPENDITURES SHALL NOT INCLUDE INTEREST OR
OTHER FINANCE CHARGES.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05665-01-5
A. 6593 2
(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.
(D) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS
OF SUCH CREDIT, ALLOWABLE UNDER THIS SUBDIVISION 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.
S 2. Section 606 of the tax law is amended by adding a new subsection
(ccc) to read as follows:
(CCC) CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY CAMERA SYSTEM
IN CONVENIENCE STORES LOCATED IN CITIES WITH A POPULATION OF ONE HUNDRED
FIFTY THOUSAND OR MORE. (1) ALLOWANCE OF CREDIT. IN CITIES WITH A POPU-
LATION OF ONE HUNDRED FIFTY THOUSAND OR MORE, A TAXPAYER WHICH IS A SOLE
PROPRIETOR OPERATING A CONVENIENCE STORE OR "BODEGA" SELLING GROCERIES
SHALL BE ALLOWED A ONE-TIME CREDIT FOR PURCHASE AND INSTALLATION OF A
SECURITY CAMERA SYSTEM ON STORE PREMISES, TO BE COMPUTED AS PROVIDED IN
SECTION FORTY-TWO OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE.
(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.
S 3. The tax law is amended by adding a new section 195 to read as
follows:
S 195. CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY CAMERA SYSTEM
IN CONVENIENCE STORES LOCATED IN CITIES WITH A POPULATION OF ONE HUNDRED
FIFTY THOUSAND OR MORE. 1. ALLOWANCE OF CREDIT. IN CITIES WITH A POPU-
LATION OF ONE HUNDRED FIFTY THOUSAND OR MORE, A TAXPAYER WHICH IS A
CORPORATION OPERATING A CONVENIENCE STORE OR "BODEGA" SELLING GROCERIES
SHALL BE ALLOWED A ONE-TIME CREDIT FOR PURCHASE AND INSTALLATION OF A
SECURITY CAMERA SYSTEM ON STORE PREMISES, TO BE COMPUTED AS PROVIDED IN
SECTION FORTY-TWO OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE.
2. CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS OF
SUCH CREDIT, ALLOWABLE UNDER THIS SUBDIVISION 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.
S 4. This act shall take effect January 1, 2016; 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, 2016.