STATE OF NEW YORK ________________________________________________________________________ 2450 2019-2020 Regular Sessions IN ASSEMBLY January 22, 2019 ___________ Introduced by M. of A. FAHY -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a tax credit for the purchase of items relating to firearm safety 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 (jjj) to read as follows: 3 (jjj) A taxpayer shall be allowed a credit as hereinafter provided, 4 against the tax imposed by this article for the purchase, other than for 5 resale, of gun safes or vaults, firearm safety locks, trigger locks or 6 other items designed to ensure the safe handling and storage of 7 firearms. The amount of credit shall be equal to twenty-five percent of 8 the cost to the taxpayer of the purchase of such firearm safety items 9 during the taxable year, such credit not to exceed five hundred dollars 10 per year. 11 ยง 2. This act shall take effect immediately and shall apply to taxable 12 years beginning on and after January 1, 2021. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD02297-01-9