§ 187-r. Commercial security tax credit. 1. Allowance of credit. A
taxpayer shall be allowed a credit, to be computed as provided in
section forty-nine of this chapter, against the tax imposed by this
article.

2. Application of credit. In no event shall the credit under this
section be allowed in an amount that will reduce the tax payable to less
than the applicable minimum tax fixed by section one hundred
eighty-three of this article. If, however, the amount of credit
allowable under this section for any taxable year reduces the tax to
such amount, any amount of credit not deductible in such taxable year
shall be treated as an overpayment of tax to be refunded in accordance
with the provisions of section one thousand eighty-six of this chapter.
Provided, however, the provisions of subsection (c) of section one
thousand eighty-eight of this chapter notwithstanding, no interest shall
be paid thereon.