S T A T E O F N E W Y O R K
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6937
I N S E N A T E
March 8, 2016
___________
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 establishment of a credit
for the purchase and installation of a security camera system on resi-
dential-, commercial- and non-profit owned properties located 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 42 to read
as follows:
S 42. CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON PROPERTY LOCATED IN CITIES WITH A POPULATION OF ONE MILLION OR MORE
PERSONS. (A) ALLOWANCE OF CREDIT. IN CITIES WITH A POPULATION OF ONE
MILLION OR MORE, A PROPERTY OWNER WHO IS SUBJECT TO TAX UNDER ARTICLES
NINE, NINE-A, TWENTY-TWO, THIRTY-TWO OR THIRTY-THREE OF THIS CHAPTER,
SHALL BE ALLOWED A ONE-TIME CREDIT AGAINST SUCH TAX FOR THE PURCHASE AND
INSTALLATION OF A QUALIFIED SECURITY CAMERA SYSTEM ON A PROPERTY. THE
AMOUNT OF SUCH CREDIT SHALL BE FIVE HUNDRED DOLLARS. THE CREDIT SHALL
BE ALLOWABLE FOR OWNERS OF RESIDENTIAL OR COMMERCIAL PROPERTIES 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.
(D) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS
OF SUCH CREDIT, ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13781-04-6
S. 6937 2
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
(v) to read as follows:
(V) CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY CAMERA SYSTEM ON
RESIDENTIAL PROPERTY LOCATED IN CITIES WITH A POPULATION OF ONE MILLION
OR MORE. (1) ALLOWANCE OF CREDIT. IN CITIES WITH A POPULATION OF ONE
MILLION OR MORE, A TAXPAYER WHO IS A HOMEOWNER SHALL BE ALLOWED A
ONE-TIME CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA
SYSTEM ON A RESIDENTIAL PROPERTY, TO BE COMPUTED AS PROVIDED IN SECTION
FORTY-TWO 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.
S 3. The tax law is amended by adding a new section 187-t to read as
follows:
S 187-T. CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA
SYSTEM ON PROPERTY LOCATED IN CITIES WITH POPULATIONS 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-TWO OF THIS CHAPTER,
AGAINST THE TAXES IMPOSED BY SECTIONS ONE HUNDRED EIGHTY-THREE, ONE
HUNDRED EIGHTY-FOUR AND ONE HUNDRED EIGHTY-FIVE 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 OR ONE HUNDRED EIGHTY-FIVE 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 TREATED 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 EIGHTY-EIGHT OF THIS CHAPTER
NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
S 4. Section 210-B of the tax law is amended by adding a new subdivi-
sion 51 to read as follows:
51. CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON PROPERTY LOCATED IN CITIES WITH POPULATIONS OF ONE MILLION OR MORE
PERSONS. (A) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
TO BE COMPUTED AS PROVIDED IN SUBDIVISION (A) OF SECTION FORTY-TWO 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
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-
S. 6937 3
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.
S 5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new clause (xliii) to read as
follows:
(XLIII) CREDIT FOR PURCHASE AMOUNT OF CREDIT UNDER
AND TAX INSTALLATION OF A SECTION FORTY-TWO
SECURITY CAMERA SYSTEM UNDER
SUBSECTION (V)
S 6. Section 1511 of the tax law is amended by adding a new subdivi-
sion (dd) to read as follows:
(DD) CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON PROPERTY LOCATED IN CITIES WITH POPULATIONS 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-TWO 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.
S 7. This act shall take effect January 1, 2017; 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, 2017.
