BILL NUMBER: S7248
SPONSOR: LANZA
 
TITLE OF BILL:
An act to amend the tax law, in relation to establishing a personal
income tax credit for the purchase of a gun safe
 
PURPOSE OR GENERAL IDEA OF BILL:
Establishes a personal income tax credit for the purchase of a gun safe
 
SUMMARY OF SPECIFIC PROVISIONS:
Section 1. Section 606 of the tax law is amended by adding a new
subsection to read as follows. Allowance of credit. A taxpayer shall be
allowed credit against the tax imposed by this article for the amount
incurred by the taxpayer during the taxable year for the purchase of a
gun safe
Section 2. The amount of the credit that may be claimed a by taxpayer
pursuant to this subsection shall not exceed five hundred dollars in any
taxable year, and such credit may be claimed not more frequently than
once every ten taxable years
Section 3. Application of credit. If the amount of the credit under this
subsection for a taxable year shall exceed the taxpayer's tax for such
year, the excess shall be treated as an overpayment of tax to be credit-
ed or refunded in accordance with the provision of section six hundred
eighty-six of this article; provided, however, that no interest shall be
paid thereon
 
JUSTIFICATION:
This bill will provided a five hundred dollars tax credit for practicing
firearm safety. This tax credit will promote safe storage of guns. Gun
safety in New York is a priority of the State allowing residents to
safely store their firearms and to continue to practice their second
amendment right.
 
LEGISLATIVEHISTORY:
2024: S.6234 - Referred to Investigations & Government Operations
2023: S.6234 - Referred to Investigations & Government Operations
2022: S.4300 - Referred to Investigations & Government Operations
2021: S.4300 - Referred to Investigations & Government Operations
2020: S. 813 - Referred to Investigations & Government Operations
2019: S. 813 - Referred to Investigations & Government Operations
2018: S.5757 - Referred to Investigations & Government Operations
2017: S.5757 - Referred to Investigations & Government Operations
2016: S.3471 - Passed Senate / A.10418 - Referred to Ways & Means
2015: S.3471 - Referred to Investigations & Government Operations
2014: S.7174 - Referred to Investigations & Government Operations
 
FISCAL IMPLICATIONS:
Undetermined.
 
EFFECTIVE DATE:
Shall take effect immediately, and shall apply to the taxable year in
which it takes effect and all subsequent taxable years

Statutes affected:
S7248: 606 tax law