Tax Credit for Security Proposed

WASHINGTON

A bill has been introduced in the House of Representatives
that would amend the tax code to allow businesses a tax
credit for the installation of electronic security systems
and other security-related expenses. The bill, by Rep. Bill
Shuster (R-Pa.), was introduced on Nov. 20, where it was
referred to the House Ways and Means Committee.

The bill, called the “Prevent Act of 2003” and labeled as
HR 3562, would amend the Internal Revenue Code of 1986 to
allow a credit for security devices, assessments and other
expenses incurred in the name of boosting security. The
credit would be 20 percent of the cost of an electronic
security device and/or 30 percent of an assessment.

Joel Brubaker, the legislative director for Shuster, says
the bill came about as a extension of conversations
concerning post-Sept. 11 security in his district, which
stretches 14 counties in Pennsylvania from Uniontown to
suburban Harrisburg. “Through conversation, we were
realizing this type of legislation was needed,” says
Brubaker. “The best aspect of it would be to ensure a safer
workplace.”

The definition of “security device” in the bill ranges from
access control and CCTV systems to electronic alarm systems
and locks.

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