Bill Text: NY S02651 | 2019-2020 | General Assembly | 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 (Republican 2-0)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO BUDGET AND REVENUE [S02651 Detail]
Download: New_York-2019-S02651-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2651 2019-2020 Regular Sessions IN SENATE January 28, 2019 ___________ Introduced by Sen. JORDAN -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue 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 (jjj) to read as follows: 3 (jjj) 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 § 2. This act shall take effect immediately and shall apply to taxable 12 years beginning on and after January 1, 2021. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD02297-01-9
