Establishes a $500 tax credit for the purchase and installation of a security camera system on residential- and commercial-owned properties in a city having a population of one million or more persons.
Summary
A00406 would create a one-time $500 tax credit for the purchase and installation of a qualified security camera system on property located in a city with a population of one million or more people. The credit would be available to owners of residential property, commercial property, and certain not-for-profit-owned property, and it would apply to taxpayers subject to several different New York tax articles. The bill defines a qualified system as one that includes the camera equipment, related materials, labor, and on-site installation costs, and it must be capable of recording and storing footage for up to 48 hours.
The measure also extends the credit across multiple tax provisions so that individuals and businesses can claim it against personal income tax, corporate franchise taxes, and other covered taxes. If the credit exceeds a taxpayer’s liability in a given year, the unused amount could be carried forward for up to five years, and in some cases excess credit would be treated as an overpayment subject to refund rules. The bill would take effect on January 1 following enactment.
Impact
The bill would amend the Tax Law by adding a new security camera credit section and conforming provisions in the personal income tax, corporate tax, and other tax articles to allow the credit to be claimed across multiple tax types. It would create a new tax expenditure for property owners in New York City or any other city with a population of at least one million, while limiting the benefit to a one-time $500 amount per qualifying installation. The bill would not change criminal law or building code requirements directly, but it could encourage private investment in surveillance equipment on homes, businesses, and nonprofit properties in the covered jurisdictions.
Sentiment
No committee transcript or recorded vote information was provided, so there is no documented floor or committee sentiment to assess. Based on the bill text and caption, the measure appears intended as a public-safety and property-protection incentive, which suggests a generally supportive framing around crime prevention and security improvements. However, without discussion or votes, the level of support or opposition cannot be determined from the available record.
Contention
The main policy questions likely concern the narrow geographic scope, since the credit is limited to cities with populations of one million or more, which effectively targets New York City. Another possible point of contention is whether a tax credit is the best way to promote security camera adoption, especially given the cost to the state treasury and concerns about privacy or expanded surveillance. The bill also raises administrative questions about eligibility, documentation of installation costs, and how the credit would interact with different taxpayer categories and minimum-tax rules.
Imposes a property tax on non-owner occupied residential properties assessed worth at one million dollars ($1,000,000) and less than two million dollars ($2,000,000) and a higher tax on properties assessed at two million dollars ($2,000,000) or more.
Enacts the "upstate energy choice act"; limits the prohibition on the installation of fossil-fuel equipment and building systems in new construction to buildings located in a city with a population of one million or more; limits the requirement of establishing decarbonization action plans for state-owned facilities to facilities located in a city with a population of one million or more.