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Assembly Bill A8342

2017-2018 Legislative Session

Relates to providing a tax credit for the purchase of gun safety equipment

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Archive: Last Bill Status - Stricken

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2017-A8342 (ACTIVE) - Details

See Senate Version of this Bill:
S192
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A7054, S2153
2011-2012: A5832, S231
2013-2014: A771, S1065
2015-2016: A5607, S3908
2019-2020: A2450, S2651
2021-2022: S2094

2017-A8342 (ACTIVE) - Summary

Provides a 25% tax credit against personal income taxes for the purchase of gun safety equipment up to $500.

2017-A8342 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8342
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 9, 2017
                                ___________
 
 Introduced by M. of A. KAVANAGH, TITONE -- read once and referred to the
   Committee on Ways and Means
 
 AN  ACT  to amend the tax law, in relation to providing a tax credit for
   the purchase of items relating to firearm safety
 
   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 (ccc) to read as follows:
   (CCC) A TAXPAYER SHALL BE ALLOWED A CREDIT  AS  HEREINAFTER  PROVIDED,
 AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE, OTHER THAN FOR
 RESALE,  OF  GUN SAFES OR VAULTS, FIREARM SAFETY LOCKS, TRIGGER LOCKS OR
 OTHER ITEMS  DESIGNED  TO  ENSURE  THE  SAFE  HANDLING  AND  STORAGE  OF
 FIREARMS.  THE AMOUNT OF CREDIT SHALL BE EQUAL TO TWENTY-FIVE PERCENT OF
 THE COST TO THE TAXPAYER OF THE PURCHASE OF SUCH  FIREARM  SAFETY  ITEMS
 DURING  THE TAXABLE YEAR, SUCH CREDIT NOT TO EXCEED FIVE HUNDRED DOLLARS
 PER YEAR.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2019.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01594-01-7

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