Bill Text: NY A09713 | 2019-2020 | General Assembly | Introduced

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Bill Title: Establishes a tax credit for the purchase and installation of a qualified video doorbell system on residential properties; the amount of such credit shall be equal to the amount expended for the purchase of such qualified video doorbell system, and materials and labor costs properly allocable to on-site preparation, assembly and original installation.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-02-06 - referred to ways and means [A09713 Detail]

Download: New_York-2019-A09713-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9713

                   IN ASSEMBLY

                                    February 6, 2020
                                       ___________

        Introduced by M. of A. WILLIAMS -- read once and referred to the Commit-
          tee on Ways and Means

        AN  ACT  to  amend the tax law, in relation to establishing a tax credit
          for the purchase and installation of a qualified video doorbell system
          on residential properties

          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 (kkk) to read as follows:
     3    (kkk) Credit for purchase and installation of a video doorbell  system
     4  on residential properties. (1) Allowance of credit. A property owner who
     5  is  subject to tax under this article shall be allowed a one-time credit
     6  against such tax for the purchase and installation of a qualified  video
     7  doorbell  system  on  a  residential property. The amount of such credit
     8  shall be equal to the amount expended for the purchase of such qualified
     9  video doorbell system, and materials and labor costs properly  allocable
    10  to on-site preparation, assembly and original installation.
    11    (2) Definitions. The term "qualified video doorbell system" shall mean
    12  a doorbell connected to a camera that allows an individual to see who is
    13  at the door.
    14    (3)  When  credit  allowed.  The  credit  provided for herein shall be
    15  allowed with respect to the taxable year commencing in which  the  video
    16  doorbell system is installed.
    17    (4)  Carryover of credit. If the amount of credit allowable under this
    18  subsection shall exceed the taxpayer's tax for such year, the excess may
    19  be carried over to the following year or years and may be deducted  from
    20  the taxpayer's tax for such year or years.
    21    § 2. This act shall take effect immediately and shall apply to taxable
    22  years beginning on and after January 1, 2020.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14125-01-9