§ 187-R — Commercial security tax credit

§ 187-r. Commercial security tax credit. 1. Allowance of credit. A\ntaxpayer shall be allowed a credit, to be computed as provided in\nsection forty-nine of this chapter, against the tax imposed by this\narticle.\n 2. Application of credit. In no event shall the credit under this\nsection be allowed in an amount that will reduce the tax payable to less\nthan the applicable minimum tax fixed by section one hundred\neighty-three of this article. If, however, the amount of credit\nallowable under this section for any taxable year reduces the tax to\nsuch amount, any amount of credit not deductible in such taxable year\nshall be treated as an overpayment of tax to be refunded in accordance\nwith the provisions of section one thousand eighty-six of this chapter.\nProvided, however, the provisions of subsection (c) of section one\nthousand eighty-eight of this chapter notwithstanding, no interest shall\nbe paid thereon.\n