Assembly Bill A7322

2019-2020 Legislative Session

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

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2019-A7322 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add §§45 & 187-q, amd §§606, 210-B & 1511, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: A9387
2017-2018: A6264
2021-2022: A2537
2023-2024: A1617

2019-A7322 (ACTIVE) - Summary

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

2019-A7322 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7322
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 22, 2019
                                ___________
 
 Introduced  by  M.  of  A.  EICHENSTEIN -- 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 the purchase and installation of a security camera system on resi-
   dential- and commercial-owned properties 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 45  to  read
 as follows:
   § 45. CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
 ON PROPERTY LOCATED IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE
 PERSONS.    (A)  ALLOWANCE OF CREDIT. A PROPERTY OWNER WHO IS SUBJECT TO
 TAX UNDER ARTICLES NINE, NINE-A,  TWENTY-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  LOCATED  IN  A CITY HAVING A POPULATION OF ONE MILLION OR MORE
 PERSONS.  THE AMOUNT OF SUCH CREDIT SHALL BE FIVE HUNDRED DOLLARS.   THE
 CREDIT  SHALL BE ALLOWABLE FOR OWNERS OF RESIDENTIAL OR COMMERCIAL PROP-
 ERTIES 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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