|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 28, 2019||referred to budget and revenue|
senate Bill S2651
Current Bill Status - In Senate Committee Budget And Revenue Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S2651 (ACTIVE) - Details
S2651 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2651 SPONSOR: JORDAN TITLE OF BILL: An act to amend the tax law, in relation to providing a tax credit for the purchase of items relating to firearm safety PURPOSE: To provide a tax credit to those that purchase gun safety equipment such as safes and vaults, or safety and trigger locks. SUMMARY OF PROVISIONS: Section 1 amends tax law by adding a new subsection (ccc) providing a twenty-five percent tax credit, "not to exceed five hundred dollars per year, for the purchase of gun safes and vaults, firearm safety locks, trigger locks, and other such items designed to ensure the safe handling and storage of firearms.
S2651 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2651 2019-2020 Regular Sessions I N S E N A T E January 28, 2019 ___________ Introduced by Sen. JORDAN -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue 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 (jjj) to read as follows: (JJJ) 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, 2021. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02297-01-9
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