§ 49*2 — Commercial security tax credit

* § 49. Commercial security tax credit. (a) Allowance of credit. For\ntaxable years beginning on or after January first, two thousand\ntwenty-four and before January first, two thousand twenty-six, a\ntaxpayer required to file a return pursuant to articles nine, nine-A or\ntwenty-two of this chapter shall be allowed a credit against such tax,\npursuant to the provisions referenced in subdivision (f) of this\nsection. The amount of the credit is equal to the amount determined\npursuant to section eight hundred forty-five-e of the executive law. No\ncost or expense paid or incurred by the taxpayer that is included as\npart of the calculation of this credit shall be the basis of any other\ntax credit allowed under this chapter.\n (b) To be eligible for the commercial security tax credit, the\ntaxpayer shall have been issued a certificate of tax credit by the\ndivision of criminal justice services pursuant to section eight hundred\nforty-five-e of the executive law, which certificate shall set forth the\namount of the credit that may be claimed for the taxable year. The\ntaxpayer shall be allowed to claim only the amount listed on the\ncertificate of tax credit for the taxable year. A taxpayer that is a\npartner in a partnership, member of a limited liability company or\nshareholder in a subchapter S corporation that has received a\ncertificate of tax credit shall be allowed its pro rata share of the\ncredit earned by the partnership, limited liability company or\nsubchapter S corporation.\n (c) Tax return requirement. The taxpayer shall be required to attach\nto its tax return in the form prescribed by the commissioner, proof of\nreceipt of its certificate of tax credit issued by the division of\ncriminal justice services.\n (d) Information sharing. Notwithstanding any provision of this\nchapter, employees of the division of criminal justice services and the\ndepartment shall be allowed and are directed to share and exchange:\n (1) information derived from tax returns or reports that is relevant\nto a taxpayer's eligibility to participate in the commercial security\ntax credit program;\n (2) information regarding the credit applied for, allowed or claimed\npursuant to this section and taxpayers that are applying for the\ncommercial security tax credit program or that are claiming such credit;\nand\n (3) information contained in or derived from credit claim forms\nsubmitted to the department and applications for admission into the\ncommercial security tax credit program. All information exchanged\nbetween the department and the division of criminal justice services\nshall not be subject to disclosure or inspection under the state's\nfreedom of information law.\n (e) Credit recapture. If a certificate of tax credit issued by the\ndivision of criminal justice services under section eight hundred\nforty-five-e of the executive law is revoked by the division, the amount\nof credit described in this section and claimed by the taxpayer prior to\nsuch revocation shall be added back to tax in the taxable year such\nrevocation becomes final.\n (f) Cross references. For application of the credit provided for in\nthis section, see the following provisions of this chapter:\n (1) article 9; section 187-r;\n (2) article 9-A: section 210-B, subdivision 60;\n (3) article 22: section 606, subdivision (ppp).\n * NB There are two § 49's\n