NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A1617
SPONSOR: Eichenstein 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 on resi-
dential- and commercial-owned properties in cities having a population
of one million or more persons
PURPOSE OR GENERAL IDEA OF BILL:
This bill will establish a one-time tax credit for purchase and instal-
lation of a security system in residential and commercial properties.
SUMMARY OF PROVISIONS:
Section one amends section 45 of the tax law by adding a new section
allowing residential and commercial property owners a one-time five
hundred-dollar credit 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.
Section two amends section 606 of the tax law, allowing a one-time tax
credit to homeowners who purchase and install a security camera system
on a residential property. If the amount of the credit exceeds the
taxpayer's tax for the year, the excess may be carried over to the next
five taxable years.
Section three amends the tax law by adding a new section 187-q, and
section four adds a new subsection 51 to section 21-0-B, allowing a
credit for the purchase and installation of a security camera system at
a commercial property. If the credit amount reduces the taxable amount
to less than the applicable minimum tax, any amount not deducted in the
tax year shall be treated as an overpayment to be refunded.
Section five amends section 606 of the tax law by adding a new clause
(xlv) with reference to a tax credit for individual homeowners.
Section six amends section 1511 of the tax law by adding a new subdivi-
sion (dd) allowing a onetime franchise tax credit to insurance compa-
nies.
Section seven establishes the effective date.
JUSTIFICATION:
New York State has a responsibility to keep all of its communities safe
from crime. This proposal will make the purchase of this equipment more
affordable by offering a $500 tax credit on such purchases.
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 who otherwise would have escaped justice. Community resi-
dents should feel that their home or place of business is safe from
those committing robberies or thefts. This bill will offer homeowners
and commercial property owners an incentive to install such a system,
which may offer deterrence to such actions.
PRIOR LEGISLATIVE HISTORY:
2021/22: A2537: referred to ways and means
2019/20: A7322: referred to ways and means
2017/18: A6264: referred to ways and means
FISCAL IMPLICATIONS:
To be determined.
EFFECTIVE DATE:
This act shall take effect on the first of January next succeeding the
date upon which it shall have become a law.
STATE OF NEW YORK
________________________________________________________________________
1617
2023-2024 Regular Sessions
IN ASSEMBLY
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:
1 Section 1. The tax law is amended by adding a new section 48 to read
2 as follows:
3 § 48. Credit for purchase and installation of a security camera system
4 on property located in a city having a population of one million or more
5 persons. (a) Allowance of credit. A property owner who is subject to
6 tax under article nine, nine-A, twenty-two or thirty-three of this chap-
7 ter, shall be allowed a one-time credit against such tax for the
8 purchase and installation of a qualified security camera system on a
9 property located in a city having a population of one million or more
10 persons. The amount of such credit shall be five hundred dollars. The
11 credit shall be allowable for owners of residential or commercial prop-
12 erties and for property owners incorporated pursuant to the terms of the
13 not-for-profit corporation law. A property owner claiming a credit
14 against tax as provided in this section may claim it against tax owed
15 under only one article of this chapter.
16 (b) Definitions. The term "qualified security camera system" means
17 expenditures for the purchase of a camera system, materials and labor
18 costs properly allocable to on-site preparation, assembly and original
19 installation. Such camera system shall be capable of recording and stor-
20 ing camera footage for up to forty-eight hours.
21 (c) When credit allowed. The credit provided for herein shall be
22 allowed with respect to the taxable year commencing in which the securi-
23 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
1 (d) Carryover of credit. If the amount of the credit, and carryovers
2 of such credit, allowable under this section for any taxable year shall
3 exceed the taxpayer's tax for such year, such excess amount may be
4 carried over to the five taxable years next following the taxable year
5 with respect to which the credit is allowed and may be deducted from the
6 taxpayer's tax for such year or years.
7 § 2. Section 606 of the tax law is amended by adding a new subsection
8 (w) to read as follows:
9 (w) Credit for purchase and installation of a security camera system
10 on residential property located in a city having a population of one
11 million or more persons. (1) Allowance of credit. A taxpayer who is a
12 homeowner shall be allowed a one-time credit for purchase and installa-
13 tion of a security camera system on a residential property owned by such
14 taxpayer and located in a city having a population of one million or
15 more persons, to be computed as provided in section forty-eight of this
16 chapter, against the tax imposed by this article.
17 (2) Carryover of credit. If the amount of the credit, and carryovers
18 of such credit, allowable under this subsection for any taxable year
19 shall exceed the taxpayer's tax for such year, such excess amount may be
20 carried over to the five taxable years next following the taxable year
21 with respect to which the credit is allowed and may be deducted from the
22 taxpayer's tax for such year or years.
23 § 3. The tax law is amended by adding a new section 187-r to read as
24 follows:
25 § 187-r. Credit for purchase and installation of a security camera
26 system on property located in a city having a population of one million
27 or more persons. 1. Allowance of credit. A taxpayer shall be allowed a
28 credit, to be computed as provided in section forty-eight of this chap-
29 ter, against the taxes imposed by sections one hundred eighty-three and
30 one hundred eighty-four of this article. Provided, however, that the
31 amount of such credit allowable against the tax imposed by section one
32 hundred eighty-four of this article shall be the excess of the amount of
33 such credit over the amount of any credit allowed by this section
34 against the tax imposed by section one hundred eighty-three of this
35 article.
36 2. Application of credit. In no event shall the credit under this
37 section be allowed in an amount which will reduce the tax payable to
38 less than the applicable minimum tax fixed by section one hundred eight-
39 y-three of this article. If, however, the amount of credit allowable
40 under this section for any taxable year reduces the tax to such amount,
41 any amount of credit not deductible in such taxable year shall be treat-
42 ed as an overpayment of tax to be refunded in accordance with the
43 provisions of section one thousand eighty-six of this chapter. Provided,
44 however, the provisions of subsection (c) of section one thousand eight-
45 y-eight of this chapter notwithstanding, no interest shall be paid ther-
46 eon.
47 § 4. Section 210-B of the tax law is amended by adding a new subdivi-
48 sion 59 to read as follows:
49 59. Credit for purchase and installation of a security camera system
50 on property located in a city having a population of one million or more
51 persons. (a) Allowance of credit. A taxpayer shall be allowed a credit,
52 to be computed as provided in subsection (a) of section forty-eight of
53 this chapter, against the tax imposed by this article.
54 (b) Application of credit. In no event shall the credit under this
55 section be allowed in an amount which will reduce the tax to less than
56 the amount prescribed in paragraph (d) of subdivision one of this
A. 1617 3
1 section. If, however, the amount of credit allowed under this section
2 for any taxable year reduces the tax to such amount, any amount of cred-
3 it not deductible in such taxable year shall be treated as an overpay-
4 ment of tax to be refunded in accordance with the provisions of section
5 one thousand eighty-six of this chapter, provided however, that no
6 interest shall be paid thereon.
7 § 5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
8 of the tax law is amended by adding a new clause (l) to read as follows:
9 (l) Credit for purchaseAmount of credit under
10 and tax installation of asubdivision fifty-nine of section
11 security camera system under210-B
12 subsection (w)
13 § 6. Section 1511 of the tax law is amended by adding a new subdivi-
14 sion (ee) to read as follows:
15 (ee) Credit for purchase and installation of a security camera system
16 on property located in a city having a population of one million or more
17 persons. (1) Allowance of credit. A taxpayer shall be allowed a credit,
18 to be computed as provided in section forty-eight of this chapter,
19 against the taxes imposed by this article.
20 (2) Application of credit. The credit allowed under this subdivision
21 for any taxable year shall not reduce the tax due for such year to less
22 than the minimum fixed by paragraph four of subdivision (a) of section
23 fifteen hundred two of this article. However, if the amount of credits
24 allowed under this subdivision for any taxable year reduces the tax to
25 such amount, any amount of credit thus not deductible in such taxable
26 year shall be treated as an overpayment of tax to be credited or
27 refunded in accordance with the provisions of section one thousand
28 eighty-six of this chapter. Provided, however, the provisions of
29 subsection (c) of section one thousand eighty-eight of this chapter
30 notwithstanding, no interest shall be paid thereon.
31 § 7. This act shall take effect on the first of January next succeed-
32 ing the date upon which it shall have become a law.
