Bill Text: NY A09231 | 2011-2012 | General Assembly | Amended
Bill Title: Provides a one time tax credit in the amount of $500 for the purchase and installation of a security system.
Spectrum: Moderate Partisan Bill (Democrat 18-4)
Status: (Introduced - Dead) 2012-05-16 - print number 9231a [A09231 Detail]
Download: New_York-2011-A09231-Amended.html
S T A T E O F N E W Y O R K
________________________________________________________________________
9231--A
I N A S S E M B L Y
February 7, 2012
___________
Introduced by M. of A. DenDEKKER, LOSQUADRO, CASTRO, WEPRIN, SCHIMMING-
ER, CRESPO, M. MILLER, LAVINE, COLTON, BENEDETTO, SALADINO, RAIA,
RAMOS, MENG -- Multi-Sponsored by -- M. of A. BOYLAND, BROOK-KRASNY,
FINCH, P. RIVERA, ROBINSON, SIMANOWITZ, TITONE, WEISENBERG -- read
once and referred to the Committee on Ways and Means -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the tax law, in relation to providing a tax credit for
the purchase and installation of a security system
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Section 210 of the tax law is amended by adding a new
2 subdivision 24-a to read as follows:
3 24-A. CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY SYSTEM. (A) A
4 TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN THIS
5 SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE, FOR THE PURCHASE,
6 OTHER THAN FOR RESALE, OF A SECURITY SYSTEM, PROVIDED SUCH TAXPAYER
7 REGISTERS SUCH SYSTEM WITH THE DIVISION OF HOMELAND SECURITY AND EMER-
8 GENCY SERVICES. THE AMOUNT OF CREDIT SHALL EQUAL THE AMOUNT PAID BY THE
9 TAXPAYER DURING THE TAXABLE YEAR, UP TO FIVE HUNDRED DOLLARS, FOR THE
10 PURCHASE AND INSTALLATION OF ANY SECURITY SYSTEM.
11 (B) FOR THE PURPOSES OF THIS SUBDIVISION, "SECURITY SYSTEM" IS DEFINED
12 AS A CLOSED-CIRCUIT TELEVISION OR OTHER ELECTRONIC SECURITY SYSTEM
13 INSTALLED TO DETECT INTRUSION, BREAK-IN, MOVEMENT, SOUND OR FIRE.
14 (C) A TAXPAYER SHALL NOT BE ALLOWED A TAX CREDIT UNDER THIS SUBDIVI-
15 SION IF SUCH TAXPAYER PREVIOUSLY RECEIVED A TAX CREDIT UNDER THIS SUBDI-
16 VISION.
17 (D) THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR
18 WILL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE AMOUNT
19 PRESCRIBED IN PARAGRAPH (D) OF SUBDIVISION ONE OF THIS SECTION. HOWEVER,
20 IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXABLE
21 YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT THUS NOT
22 DEDUCTIBLE IN SUCH TAXABLE YEAR WILL BE TREATED AS AN OVERPAYMENT OF TAX
23 TO BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14237-03-2
A. 9231--A 2
1 ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER, THE
2 PROVISIONS OF SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF
3 THIS CHAPTER NOTWITHSTANDING, NO INTEREST WILL BE PAID THEREON.
4 S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
5 of the tax law is amended by adding a new clause (xxxiv) to read as
6 follows:
7 (XXXIV) CREDIT FOR PURCHASE PURCHASE AND INSTALLATION
8 AND INSTALLATION OF A COSTS OF A SECURITY SYSTEM
9 SECURITY SYSTEM UNDER SUBDIVISION
10 UNDER SUBSECTION (S-1) TWENTY-FOUR-A OF SECTION
11 TWO HUNDRED TEN OR
12 SUBSECTION (J-1) OF
13 SECTION FOURTEEN HUNDRED
14 FIFTY-SIX
15 S 3. Section 606 of the tax law is amended by adding a new subsection
16 (s-1) to read as follows:
17 (S-1) (1) CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY SYSTEM. A
18 TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED, AGAINST THE
19 TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLATION OF A SECU-
20 RITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWENTY-FOUR-A OF
21 SECTION TWO HUNDRED TEN OF THIS CHAPTER, PROVIDED SUCH TAXPAYER REGIS-
22 TERS SUCH SYSTEM WITH THE DIVISION OF HOMELAND SECURITY AND EMERGENCY
23 SERVICES. THE AMOUNT OF CREDIT SHALL EQUAL THE AMOUNT PAID BY THE
24 TAXPAYER DURING THE TAXABLE YEAR, UP TO FIVE HUNDRED DOLLARS, FOR THE
25 PURCHASE AND INSTALLATION OF ANY SECURITY SYSTEM. A TAXPAYER SHALL NOT
26 BE ALLOWED A TAX CREDIT UNDER THIS SUBSECTION IF SUCH TAXPAYER PREVIOUS-
27 LY RECEIVED A TAX CREDIT UNDER THIS SUBSECTION.
28 (2) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION SHALL
29 EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS
30 AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE
31 PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED,
32 HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
33 S 4. Section 1456 of the tax law is amended by adding a new subsection
34 (j-1) to read as follows:
35 (J-1) (1) CREDIT FOR PURCHASE AND INSTALLATION OF A SECURITY SYSTEM.
36 A TAXPAYER SHALL BE ALLOWED A CREDIT AS PROVIDED IN THIS SUBSECTION,
37 AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLA-
38 TION OF A SECURITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWEN-
39 TY-FOUR-A OF SECTION TWO HUNDRED TEN OF THIS CHAPTER, PROVIDED SUCH
40 TAXPAYER REGISTERS SUCH SYSTEM WITH THE DIVISION OF HOMELAND SECURITY
41 AND EMERGENCY SERVICES. THE AMOUNT OF CREDIT SHALL EQUAL THE AMOUNT PAID
42 BY THE TAXPAYER DURING THE TAXABLE YEAR, UP TO FIVE HUNDRED DOLLARS, FOR
43 THE PURCHASE AND INSTALLATION OF ANY SECURITY SYSTEM. THE CREDIT ALLOWED
44 UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE
45 FOR SUCH YEAR TO LESS THAN THE MINIMUM TAX FIXED BY SUBSECTION (B) OF
46 SECTION FOURTEEN HUNDRED FIFTY-FIVE OF THIS ARTICLE. A TAXPAYER SHALL
47 NOT BE ALLOWED A TAX CREDIT UNDER THIS SUBSECTION IF SUCH TAXPAYER
48 PREVIOUSLY RECEIVED A TAX CREDIT UNDER THIS SUBSECTION.
49 (2) HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBSECTION FOR
50 ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT
51 THUS NOT DEDUCTIBLE IN SUCH TAXABLE YEAR WILL BE TREATED AS AN OVERPAY-
52 MENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS
53 OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER,
54 THE PROVISIONS OF SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF
55 THIS CHAPTER NOTWITHSTANDING, NO INTEREST WILL BE PAID THEREON.
A. 9231--A 3
1 S 5. Section 1511 of the tax law is amended by adding a new subdivi-
2 sion (1-1) to read as follows:
3 (1-1) (1) CREDIT FOR PURCHASE AND INSTALLATION OF SECURITY SYSTEM. A
4 TAXPAYER SHALL BE ALLOWED A CREDIT AS HEREINAFTER PROVIDED, AGAINST THE
5 TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE AND INSTALLATION OF A SECU-
6 RITY SYSTEM, AS SUCH TERM IS DEFINED IN SUBDIVISION TWENTY-FOUR-A OF
7 SECTION TWO HUNDRED TEN OF THIS CHAPTER PROVIDED SUCH TAXPAYER REGISTERS
8 SUCH SYSTEM WITH THE DIVISION OF HOMELAND SECURITY AND EMERGENCY
9 SERVICES. THE AMOUNT OF CREDIT SHALL EQUAL THE AMOUNT PAID BY THE
10 TAXPAYER DURING THE TAXABLE YEAR, UP TO FIVE HUNDRED DOLLARS, FOR THE
11 PURCHASE AND INSTALLATION OF ANY SECURITY SYSTEM. THE CREDIT ALLOWED
12 UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE
13 FOR SUCH YEAR TO LESS THAN THE MINIMUM FIXED BY PARAGRAPH FOUR OF SUBDI-
14 VISION (A) OF SECTION FIFTEEN HUNDRED TWO OF THIS ARTICLE. A TAXPAYER
15 SHALL NOT BE ALLOWED A TAX CREDIT UNDER THIS SUBDIVISION IF SUCH TAXPAY-
16 ER PREVIOUSLY RECEIVED A TAX CREDIT UNDER THIS SUBDIVISION.
17 (2) HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBSECTION FOR
18 ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY AMOUNT OF CREDIT
19 THUS NOT DEDUCTIBLE IN SUCH TAXABLE YEAR WILL BE TREATED AS AN OVERPAY-
20 MENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS
21 OF SECTION ONE THOUSAND EIGHTY-SIX OF THIS CHAPTER. PROVIDED, HOWEVER,
22 THE PROVISIONS OF SUBSECTION (C) OF SECTION ONE THOUSAND EIGHTY-EIGHT OF
23 THIS CHAPTER NOTWITHSTANDING, NO INTEREST WILL BE PAID THEREON.
24 S 6. This act shall take effect immediately and shall apply to taxable
25 years commencing on or after January 1, 2013.
