Senate Bill S2489

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2489
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 21, 2025
                                ___________
 
 Introduced  by  Sen.  ASHBY  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Codes
 
 AN ACT to amend the executive law, in relation  to  designating  restau-
   rants as qualified businesses for the purposes of the commercial secu-
   rity tax credit program

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraphs (b), (c) and (d) of subdivision 1, paragraph (b)
 of subdivision 2, and paragraph (a) of subdivision 5 of section 845-e of
 the executive law, as added by section 1 of part E of chapter 59 of  the
 laws of 2024, are amended to read as follows:
   (b)  "Qualified  business"  means a business with fifty or fewer total
 employees that operates one or more physical retail OR RESTAURANT  busi-
 ness  locations  open  to the public in New York state that incurs costs
 related to protection  against  retail  OR  RESTAURANT  theft  of  goods
 through retail OR RESTAURANT theft prevention measures.
   (c) "Qualified retail OR RESTAURANT theft prevention measure expenses"
 means  any  combination of retail OR RESTAURANT 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 OR RESTAURANT location.
   (d) "Retail OR RESTAURANT 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.
   (b) have qualified  retail  OR  RESTAURANT  theft  prevention  measure
 expenses that exceed four thousand dollars for a qualified business with
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06668-01-5
              

 S. 2489                             2
 
 twenty-five or fewer total employees or six thousand dollars for a qual-
 ified  business  with  more than twenty-five employees for each New York
 retail OR RESTAURANT location during the taxable year;
   (a)  For  taxable years beginning on or after January first, two thou-
 sand 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 OR RESTAURANT location of the business entity located in New York
 state.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2025.