NY A09387

Establishes a one-time tax credit of $500 for the purchase and installation of a qualified security camera system on residential, commercial, and non-profit owned properties in New York state.

Qualified security camera system includes expenditures for camera equipment, materials, and labor costs for on-site preparation, assembly, and original installation, with capability to record and store footage for up to 48 hours.

Credit applies to property owners subject to tax under articles nine, nine-A, twenty-two, thirty-two, or thirty-three of the tax law, and homeowners can claim credit against residential property taxes under article 606.

Excess credit amounts not used in the taxable year of installation may be carried over and deducted from tax liability in the five subsequent taxable years.

Effective date is January 1, 2017, or immediately upon enactment if passed after that date.