Bill Text: NY A08998 | 2017-2018 | 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 (Democrat 1-0)
Status: (Introduced - Dead) 2018-01-10 - referred to ways and means [A08998 Detail]
Download: New_York-2017-A08998-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8998 IN ASSEMBLY January 10, 2018 ___________ Introduced by M. of A. FAHY -- read once and referred to the Committee 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 § 2. This act shall take effect immediately and shall apply to taxable 12 years beginning on and after January 1, 2019. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01594-01-7