Bill Text: NY S05221 | 2013-2014 | General Assembly | Amended

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Bill Title: Provides a tax credit for the cost of purchasing a gun safe.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2014-01-17 - PRINT NUMBER 5221B [S05221 Detail]

Download: New_York-2013-S05221-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        5221--B
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                     May 14, 2013
                                      ___________
       Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment   Operations  --  committee  discharged,  bill  amended,  ordered
         reprinted as amended and recommitted to said committee --  recommitted
         to  the  Committee  on  Investigations  and  Government  Operations in
         accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
         amended,  ordered reprinted as amended and recommitted to said commit-
         tee
       AN ACT to amend the tax law, in relation to providing a tax  credit  for
         the cost of purchasing a gun safe
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subsections (yy) and (zz) of section 606 of the tax law, as
    2  relettered by section 5 of part H of chapter 1 of the laws of 2003,  are
    3  relettered  subsections  (yyy)  and  (zzz) and a new subsection (bbb) is
    4  added to read as follows:
    5    (BBB) HOME DEFENSE TAX CREDIT. A RESIDENT TAXPAYER WHO PURCHASES A GUN
    6  SAFE ON OR AFTER JANUARY  FIFTEENTH,  TWO  THOUSAND  THIRTEEN  SHALL  BE
    7  ALLOWED A CREDIT AGAINST THE TAX OTHERWISE IMPOSED UNDER THIS ARTICLE IN
    8  AN AMOUNT EQUAL TO ONE-HALF OF THE COST OF SUCH GUN SAFE UP TO A MAXIMUM
    9  OF FIVE HUNDRED DOLLARS.  AS USED IN THIS SUBSECTION, "GUN SAFE" MEANS A
   10  CABINET  OF METAL OR OTHER SUFFICIENTLY DURABLE MATERIAL EQUIPPED WITH A
   11  KEY OR COMBINATION LOCK DESIGNED TO SECURELY STORE RIFLES,  SHOTGUNS  OR
   12  HANDGUNS.
   13    S 2. This act shall take effect immediately and shall apply to taxable
   14  years beginning on or after January 1, 2014.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10766-05-4