* § 49. Commercial security tax credit. (a) Allowance of credit. For
taxable years beginning on or after January first, two thousand
twenty-four and before January first, two thousand twenty-six, a
taxpayer required to file a return pursuant to articles nine, nine-A or
twenty-two of this chapter shall be allowed a credit against such tax,
pursuant to the provisions referenced in subdivision (f) of this
section. The amount of the credit is equal to the amount determined
pursuant to section eight hundred forty-five-e of the executive law. No
cost or expense paid or incurred by the taxpayer that is included as
part of the calculation of this credit shall be the basis of any other
tax credit allowed under this chapter.

(b) To be eligible for the commercial security tax credit, the
taxpayer shall have been issued a certificate of tax credit by the
division of criminal justice services pursuant to section eight hundred
forty-five-e of the executive law, which certificate shall set forth the
amount of the credit that may be claimed for the taxable year. The
taxpayer shall be allowed to claim only the amount listed on the
certificate of tax credit for the taxable year. A taxpayer that is a
partner in a partnership, member of a limited liability company or
shareholder in a subchapter S corporation that has received a
certificate of tax credit shall be allowed its pro rata share of the
credit earned by the partnership, limited liability company or
subchapter S corporation.

(c) Tax return requirement. The taxpayer shall be required to attach
to its tax return in the form prescribed by the commissioner, proof of
receipt of its certificate of tax credit issued by the division of
criminal justice services.

(d) Information sharing. Notwithstanding any provision of this
chapter, employees of the division of criminal justice services and the
department shall be allowed and are directed to share and exchange:

(1) information derived from tax returns or reports that is relevant
to a taxpayer's eligibility to participate in the commercial security
tax credit program;

(2) information regarding the credit applied for, allowed or claimed
pursuant to this section and taxpayers that are applying for the
commercial security tax credit program or that are claiming such credit;
and

(3) information contained in or derived from credit claim forms
submitted to the department and applications for admission into the
commercial security tax credit program. All information exchanged
between the department and the division of criminal justice services
shall not be subject to disclosure or inspection under the state's
freedom of information law.

(e) Credit recapture. If a certificate of tax credit issued by the
division of criminal justice services under section eight hundred
forty-five-e of the executive law is revoked by the division, the amount
of credit described in this section and claimed by the taxpayer prior to
such revocation shall be added back to tax in the taxable year such
revocation becomes final.

(f) Cross references. For application of the credit provided for in
this section, see the following provisions of this chapter:

(1) article 9; section 187-r;

(2) article 9-A: section 210-B, subdivision 60;

(3) article 22: section 606, subdivision (ppp).

* NB There are two § 49's