NY State Senate Bill 2017-S3480

Senate Bill S3480

2017-2018 Legislative Session

Establishes a tax credit for the purchase and installation of a security camera system on residential, commercial and non-profit owned properties

download bill text pdf

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2018	referred to investigations and government operations
Jan 23, 2017	referred to investigations and government operations

2017-S3480 (ACTIVE) - Details

Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§606 & 210-B, Tax L
Versions Introduced in 2015-2016 Legislative Session:: S6937

2017-S3480 (ACTIVE) - Summary

Establishes a tax credit for the purchase and installation of a security camera system on residential, commercial and non-profit owned properties.

2017-S3480 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S3480

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

 PURPOSE :

This bill will establish a one-time tax credit for purchase and
installation of a security system.

 SUMMARY OF PROVISIONS :

Section one of this bill creates a new subdivision 52 of section 201-B
of the tax law by allowing New York state property owners and
taxpayers a onetime onetime fifty percent credit for up to one
thousand dollars against taxes for the purchase and installation of a
qualified security camera system on a property. The credit will be
allowed in the taxable year in which the system is installed.

The bill defines qualifying security camera system costs as costs
related to the purchase and installation of a video security system
not to be used for broadcast, publishing or public dissemination. A
qualifying system must be capable of continuous recording and storage
for at least forty-eight hours. The credit is refundable.

Sections two and three of the bill create a corresponding credit under
the state personal income tax under section 606 of the tax law.

Section four of the bill provides an immediate effective date and
applies to taxable years beginning January 1, 2017. This means that
most taxpayers could not avail themselves of the credit before they
file taxes in 2018.

 JUSTIFICATION :

New York State has a responsibility to keep all of its communities
safe from crime. Recent attacks against businesses residents have
indicated a spike in burglaries, robberies, abductions and home
invasions. The existence of operating security video systems has been
shown to dramatically decrease the number of these incidents and serve
as an invaluable tool leading to the arrest and prosecution of
perpetrators.

Private security camera systems have proven to be an indispensable and
effective tool for law enforcement officials when solving crimes.
Video from these systems have assisted police in identifying and
prosecuting perpetrators whom otherwise would have escaped justice.
Community residents should feel that their home or place of business
is safe from those committing robberies or thefts.

However, the cost of these systems has proved to be a serious barrier
to wider installation and use of these security systems. This bill
will provide a serious and much needed incentive for greater use of
video security systems for both state residences and businesses.

 PRIOR LEGISLATIVE HISTORY :

2016: S.2691 - Passed Senate

 FISCAL IMPLICATIONS :

A similarly designed video security incentive program structured as a
government paid for rebate at time of purchase provided $100,000 in
incentives in the District of Columbia for calendar year 2015.

Estimates for a tax credit in New York State should average
approximately $200,000 to $300,000 a year.

 EFFECTIVE DATE :
This act shall take effect immediately and apply to taxable years 2017
and later.

2017-S3480 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3480
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2017
                                ___________
 
 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

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 210-B of the tax law is amended  by  adding  a  new
 subdivision 52 to read as follows:
   52.  CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM.
 (A) ALLOWANCE OF CREDIT. A PROPERTY OWNER  SUBJECT  TO  TAX  UNDER  THIS
 ARTICLE  SHALL  BE ALLOWED A ONE-TIME CREDIT AGAINST SUCH TAX FOR QUALI-
 FIED SECURITY CAMERA SYSTEM COSTS ON A  PROPERTY  LOCATED  IN  NEW  YORK
 STATE.    THE  CREDIT  SHALL  EQUAL  FIFTY PERCENT OF QUALIFIED SECURITY
 CAMERA COSTS UP TO ONE THOUSAND DOLLARS.  THE CREDIT WILL BE ALLOWED  IN
 THE  TAXABLE YEAR THAT QUALIFYING SECURITY CAMERA SYSTEM COSTS ARE PAID,
 AND THE PROPERTY OWNER MAY CLAIM A CREDIT FOR SUCH COSTS UNDER ONLY  ONE
 ARTICLE OF THIS CHAPTER.
   (B)  DEFINITION.  "QUALIFYING SECURITY CAMERA SYSTEM COSTS" SHALL MEAN
 CAMERA RECORDING TECHNOLOGY, CORRESPONDING ACCESS AND CONTROLS EQUIPMENT
 AND LABOR COSTS PROPERLY ALLOCABLE TO ASSEMBLY AND ORIGINAL INSTALLATION
 NOT INTENDED OR UTILIZED FOR BROADCAST,  PUBLISHING  OR  PUBLIC  DISSEM-
 INATION  AS  SUCH TERMS ARE GENERALLY DESCRIBED IN SECTION 250.40 OF THE
 PENAL LAW. SUCH CAMERA SYSTEM SHALL BE CAPABLE OF RECORDING AND  STORING
 FOOTAGE FOR A MINIMUM OF FORTY-EIGHT HOURS.
   (C) THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR MAY
 NOT  REDUCE THE TAX DUE FOR THAT YEAR TO LESS THAN THE AMOUNT PRESCRIBED
 IN PARAGRAPH (D) OF SUBDIVISION ONE OF SECTION TWO HUNDRED TEN  OF  THIS
 ARTICLE. HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBDIVISION
 FOR  ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, OR IF THE TAXPAYER
 OTHERWISE PAYS TAX BASED ON THE FIXED DOLLAR MINIMUM AMOUNT, ANY  AMOUNT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD00184-02-7

 S. 3480                             2
 
 OF CREDIT THUS NOT DEDUCTIBLE IN THAT 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 THOU-
 SAND  EIGHTY-EIGHT  OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST WILL BE
 PAID THEREON.
   § 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 A SECURITY CAMERA SYSTEM.
 (1)  ALLOWANCE  OF  CREDIT.  A  PROPERTY OWNER SUBJECT TO TAX UNDER THIS
 ARTICLE SHALL BE ALLOWED A ONE-TIME CREDIT AGAINST SUCH TAX  FOR  QUALI-
 FIED  SECURITY  CAMERA  SYSTEM  COSTS  ON A PROPERTY LOCATED IN NEW YORK
 STATE. THE CREDIT SHALL EQUAL FIFTY PERCENT OF  THE  QUALIFIED  SECURITY
 CAMERA  COSTS  UP TO ONE THOUSAND DOLLARS. THE CREDIT WILL BE ALLOWED IN
 THE TAXABLE YEAR THAT QUALIFYING SECURITY CAMERA COSTS ARE PAID, AND THE
 PROPERTY OWNER MAY CLAIM A CREDIT FOR SUCH COSTS UNDER ONLY ONE  ARTICLE
 OF THIS CHAPTER.
   (2)  DEFINITION:  "QUALIFYING SECURITY CAMERA SYSTEM COSTS" SHALL MEAN
 CAMERA RECORDING TECHNOLOGY, CORRESPONDING ACCESS AND CONTROLS EQUIPMENT
 AND LABOR COSTS PROPERLY ALLOCABLE TO ASSEMBLY AND ORIGINAL INSTALLATION
 NOT INTENDED OR UTILIZED FOR BROADCAST,  PUBLISHING  OR  PUBLIC  DISSEM-
 INATION  AS  SUCH TERMS ARE GENERALLY DESCRIBED IN SECTION 250.40 OF THE
 PENAL LAW. SUCH CAMERA SYSTEM SHALL BE CAPABLE OF RECORDING AND  STORING
 FOOTAGE FOR A MINIMUM OF FORTY-EIGHT HOURS.
   (3) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR EXCEEDS THE TAXPAYER'S TAX FOR SUCH
 YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDIT-
 ED  OR  REFUNDED  AS  PROVIDED IN SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   § 3. 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          SUBDIVISION FIFTY-TWO OF SECTION
 SECURITY CAMERA SYSTEM UNDER       TWO HUNDRED TEN-B
 SUBSECTION (V)
   § 4. This act shall take effect immediately and apply to taxable years
 beginning on or after January 1, 2017  and  qualifying  security  camera
 system costs incurred on or after the effective date of this act.

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