§ 845-e. Commercial security tax credit program. 1. Definitions. For
the purposes of this section:

(a) "Certificate of tax credit" means the document issued to a
business entity by the division after the division has verified that the
business entity has met all applicable eligibility criteria in
subdivision two of this section. The certificate shall specify the exact
amount of the tax credit under this section that a business entity may
claim, pursuant to subdivision five of this section, and other
information as required by the department of taxation and finance.

(b) "Qualified business" means a business with fifty or fewer total
employees that operates one or more physical retail business locations
open to the public in New York state that incurs costs related to
protection against retail theft of goods through retail theft prevention
measures.

(c) "Qualified retail theft prevention measure expenses" means any
combination of retail theft prevention measure costs paid or incurred by
a qualified business during the taxable year that cumulatively exceed
four thousand dollars for a qualified business with twenty-five or fewer
total employees or six thousand dollars for a qualified business with
more than twenty-five employees for each New York retail location.

(d) "Retail theft prevention measure" means (i) the use of security
officers as defined in paragraph (e) of this subdivision, (ii) security
cameras, (iii) perimeter security lighting, (iv) interior or exterior
locking or hardening measures, (v) alarm systems, (vi) access control
systems, or (vii) other appropriate anti-theft devices as determined by
the division to be eligible under this section.

(e) "Security officers" means security officers, registered under
article seven-A of the general business law, responsible for the
security and theft deterrence in a qualified business, whether employed
directly by such business or indirectly through a contractor.

2. Eligibility criteria. To be eligible for a tax credit under the
commercial security tax credit program, an eligible business must:

(a) be a qualified business required to file a tax return pursuant to
articles nine, nine-A or twenty-two of the tax law;

(b) have qualified retail theft prevention measure expenses that
exceed four thousand dollars for a qualified business with twenty-five
or fewer total employees or six thousand dollars for a qualified
business with more than twenty-five employees for each New York retail
location during the taxable year;

(c) provide a certification in a manner and form prescribed by the
commissioner that the business entity participates in a community
anti-theft partnership as established by the division between businesses
and relevant local law enforcement agencies; and

(d) may not owe past due state taxes or local property taxes unless
the business entity is making payments and complying with an approved
binding payment agreement entered into with the taxing authority.

3. Application and approval process. (a) A business entity must submit
a complete application as prescribed by the commissioner by October
thirty-first of each year.

(b) The commissioner shall establish procedures for business entities
to submit applications. As part of the application, each business entity
must:

(i) provide evidence of eligibility in a form and manner prescribed by
the commissioner;

(ii) agree to allow the department of taxation and finance to share
the business entity's tax information with the division. However, any
information shared as a result of this program shall not be available
for disclosure or inspection under the state freedom of information law
pursuant to article six of the public officers law;

(iii) allow the division and its agents access to any and all books
and records the division may require to confirm eligibility; and

(iv) agree to provide any additional information required by the
division relevant to this section.

4. Certificate of tax credit. After reviewing a business entity's
completed final application and determining that a business entity meets
the eligibility criteria as set forth in this section, the division may
issue to that business entity a certificate of tax credit. All
applications will be processed by the division in the order they are
received and certificates of tax credit may be issued in amounts that,
in the aggregate, do not exceed the annual cap as set forth in
subdivision seven of this section.

5. Commercial security tax credit. (a) For taxable years beginning on
or after January first, two thousand twenty-four and before January
first, two thousand twenty-six, a business entity in the commercial
security tax credit program that meets the eligibility requirements of
subdivision two of this section may be eligible to claim a credit equal
to three thousand dollars for each retail location of the business
entity located in New York state.

(b) A business entity may claim the tax credit in the taxable year
that begins in the year for which it was allocated a credit by the
division under this section.

(c) The credit shall be allowed as provided in section forty-nine,
section one hundred eighty-seven-r, subdivision sixty of section two
hundred ten-B and subsection (ppp) of section six hundred six of the tax
law.

(d) The commissioner shall, in consultation with the department of
taxation and finance, develop a certificate of tax credit that shall be
issued by the commissioner to eligible businesses.

(e) The commissioner shall solely determine the eligibility of any
applicant applying for entry into the program and shall remove any
business entity from the program for failing to meet any of the
requirements set forth in subdivision two and subdivision three of this
section. In the event a business entity is removed from the program, the
division shall notify the department of taxation and finance of such
removal.

6. Maintenance of records. Each eligible business participating in the
program shall keep all relevant records for the duration of their
program participation for at least three years.

7. Cap on tax credit. The total amount of tax credits listed on
certificates of tax credit issued by the division pursuant to this
section may not exceed five million dollars per calendar year.