S T A T E O F N E W Y O R K
________________________________________________________________________
1617
2023-2024 Regular Sessions
I N A S S E M B L Y
January 17, 2023
___________
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 48 to read
as follows:
§ 48. 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 ARTICLE NINE, NINE-A, TWENTY-TWO OR THIRTY-THREE OF THIS CHAP-
TER, 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.
LBD00131-02-3
A. 1617 2
(D) CARRYOVER OF CREDIT. IF THE AMOUNT OF THE CREDIT, AND CARRYOVERS
OF SUCH CREDIT, ALLOWABLE UNDER THIS SECTION 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.
§ 2. Section 606 of the tax law is amended by adding a new subsection
(w) to read as follows:
(W) CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY CAMERA SYSTEM
ON RESIDENTIAL PROPERTY LOCATED IN A CITY HAVING A POPULATION OF ONE
MILLION OR MORE PERSONS. (1) ALLOWANCE OF CREDIT. A TAXPAYER WHO IS A
HOMEOWNER SHALL BE ALLOWED A ONE-TIME CREDIT FOR PURCHASE AND INSTALLA-
TION OF A SECURITY CAMERA SYSTEM ON A RESIDENTIAL PROPERTY OWNED BY SUCH
TAXPAYER AND LOCATED IN A CITY HAVING A POPULATION OF ONE MILLION OR
MORE PERSONS, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-EIGHT 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.
§ 3. The tax law is amended by adding a new section 187-r to read as
follows:
§ 187-R. 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. 1. ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A
CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION FORTY-EIGHT OF THIS CHAP-
TER, AGAINST THE TAXES IMPOSED BY SECTIONS ONE HUNDRED EIGHTY-THREE AND
ONE HUNDRED EIGHTY-FOUR 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 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 TREAT-
ED 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 EIGHT-
Y-EIGHT OF THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE PAID THER-
EON.
§ 4. Section 210-B of the tax law is amended by adding a new subdivi-
sion 59 to read as follows:
59. 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 TAXPAYER SHALL BE ALLOWED A CREDIT,
TO BE COMPUTED AS PROVIDED IN SUBSECTION (A) OF SECTION FORTY-EIGHT 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
A. 1617 3
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-
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.
§ 5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new clause (l) to read as follows:
(L) CREDIT FOR PURCHASE AMOUNT OF CREDIT UNDER
AND TAX INSTALLATION OF A SUBDIVISION FIFTY-NINE OF SECTION
SECURITY CAMERA SYSTEM UNDER 210-B
SUBSECTION (W)
§ 6. Section 1511 of the tax law is amended by adding a new subdivi-
sion (ee) to read as follows:
(EE) 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. (1) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE ALLOWED A CREDIT,
TO BE COMPUTED AS PROVIDED IN SECTION FORTY-EIGHT 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.
§ 7. This act shall take effect on the first of January next succeed-
ing the date upon which it shall have become a law.