S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        5221--A
                              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
       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. Section 606 of the tax law  is  amended  by  adding  a  new
    2  subsection (ww) to read as follows:
    3    (WW)  HOME  DEFENSE TAX CREDIT. (1) A RESIDENT TAXPAYER WHO PURCHASES,
    4  UNLESS FOR RESALE, A GUN SAFE SHALL BE ALLOWED A CREDIT AGAINST THE  TAX
    5  OTHERWISE  IMPOSED  UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO TWENTY-FIVE
    6  PERCENT OF THE COST OF SUCH GUN SAFE UP  TO  A  MAXIMUM  CREDIT  OF  TWO
    7  HUNDRED  FIFTY DOLLARS.   AS USED IN THIS SUBSECTION, "GUN SAFE" MEANS A
    8  CABINET OF METAL OR OTHER SUFFICIENTLY DURABLE MATERIAL EQUIPPED WITH  A
    9  KEY  OR  COMBINATION LOCK DESIGNED TO SECURELY STORE RIFLES, SHOTGUNS OR
   10  HANDGUNS.
   11    (2) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR  ANY
   12  TAXABLE  YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
   13  SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN
   14  ACCORDANCE   WITH  SECTION  SIX  HUNDRED  EIGHTY-SIX  OF  THIS  ARTICLE,
   15  PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   16    S 2. This act shall take effect immediately and shall apply to taxable
   17  years beginning on or after January 1, 2013.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10766-04-3