Bill Text: NY A05607 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 5607 (Prior Session Legislation)

Introduced

Bill Title: Provides a 25% tax credit against personal income taxes for the purchase of gun safety equipment up to $500.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - referred to ways and means [A05607 Detail]

Download: New_York-2015-A05607-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5607
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                     March 2, 2015
                                      ___________
       Introduced by M. of A. KAVANAGH -- read once and referred to the Commit-
         tee on Ways and Means
       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:
    1    Section  1.  Section  606  of  the  tax law is amended by adding a new
    2  subsection (ccc) to read as follows:
    3    (CCC) A TAXPAYER SHALL BE ALLOWED A CREDIT  AS  HEREINAFTER  PROVIDED,
    4  AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE, OTHER THAN FOR
    5  RESALE,  OF  GUN SAFES OR VAULTS, FIREARM SAFETY LOCKS, TRIGGER LOCKS OR
    6  OTHER ITEMS  DESIGNED  TO  ENSURE  THE  SAFE  HANDLING  AND  STORAGE  OF
    7  FIREARMS.  THE AMOUNT OF CREDIT SHALL BE EQUAL TO TWENTY-FIVE PERCENT OF
    8  THE COST TO THE TAXPAYER OF THE PURCHASE OF SUCH  FIREARM  SAFETY  ITEMS
    9  DURING  THE TAXABLE YEAR, SUCH CREDIT NOT TO EXCEED FIVE HUNDRED DOLLARS
   10  PER YEAR.
   11    S 2. This act shall take effect immediately and shall apply to taxable
   12  years beginning on and after January 1, 2017.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04879-01-5