Bill Text: NY S02489 | 2025-2026 | General Assembly | Introduced

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Bill Title: Designates restaurants as qualified businesses for the purposes of the commercial security tax credit program.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2025-01-21 - REFERRED TO CODES [S02489 Detail]

Download: New_York-2025-S02489-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2489

                               2025-2026 Regular Sessions

                    IN SENATE

                                    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:

     1    Section 1. Paragraphs (b), (c) and (d) of subdivision 1, paragraph (b)
     2  of subdivision 2, and paragraph (a) of subdivision 5 of section 845-e of
     3  the executive law, as added by section 1 of part E of chapter 59 of  the
     4  laws of 2024, are amended to read as follows:
     5    (b)  "Qualified  business"  means a business with fifty or fewer total
     6  employees that operates one or more physical retail or restaurant  busi-
     7  ness  locations  open  to the public in New York state that incurs costs
     8  related to protection  against  retail  or  restaurant  theft  of  goods
     9  through retail or restaurant theft prevention measures.
    10    (c) "Qualified retail or restaurant theft prevention measure expenses"
    11  means  any  combination of retail or restaurant theft prevention measure
    12  costs paid or incurred by a qualified business during the  taxable  year
    13  that  cumulatively exceed four thousand dollars for a qualified business
    14  with twenty-five or fewer total employees or six thousand dollars for  a
    15  qualified  business  with  more  than twenty-five employees for each New
    16  York retail or restaurant location.
    17    (d) "Retail or restaurant theft prevention measure" means (i) the  use
    18  of  security  officers  as defined in paragraph (e) of this subdivision,
    19  (ii) security cameras, (iii) perimeter security lighting, (iv)  interior
    20  or  exterior  locking  or  hardening  measures,  (v) alarm systems, (vi)
    21  access control systems, or (vii) other appropriate anti-theft devices as
    22  determined by the division to be eligible under this section.
    23    (b) have qualified  retail  or  restaurant  theft  prevention  measure
    24  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

     1  twenty-five or fewer total employees or six thousand dollars for a qual-
     2  ified  business  with  more than twenty-five employees for each New York
     3  retail or restaurant location during the taxable year;
     4    (a)  For  taxable years beginning on or after January first, two thou-
     5  sand twenty-four and before January first, two  thousand  twenty-six,  a
     6  business entity in the commercial security tax credit program that meets
     7  the  eligibility  requirements of subdivision two of this section may be
     8  eligible to claim a credit equal to  three  thousand  dollars  for  each
     9  retail or restaurant location of the business entity located in New York
    10  state.
    11    § 2. This act shall take effect immediately and shall apply to taxable
    12  years beginning on or after January 1, 2025.