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.
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
