Bill Text: NY A07981 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to providing a tax credit to employers who subsidize an employee's use of public transportation.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2017-05-30 - enacting clause stricken [A07981 Detail]

Download: New_York-2017-A07981-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7981
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                      May 23, 2017
                                       ___________
        Introduced  by  M.  of  A.  SEPULVEDA  --  read once and referred to the
          Committee on Ways and Means
        AN ACT to amend the tax law, in relation to providing a  tax  credit  to
          employers who subsidize an employee's use of public transportation
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 210-B of the tax law is amended  by  adding  a  new
     2  subdivision 53 to read as follows:
     3    53.  Employer transportation credit. (a) A taxpayer shall be allowed a
     4  credit, to be computed as hereinafter provided, against the tax  imposed
     5  by this article. The amount of the credit shall be equal to either:
     6    (i)  fifteen percent of the expenses incurred during a taxable year in
     7  providing public transportation services for  employees,  provided  that
     8  the  taxpayer  contribute  at least fifty percent of an employee's total
     9  public transportation service cost.
    10    (ii) twenty-five percent of the expenses  incurred  during  a  taxable
    11  year in providing public transportation services for employees, provided
    12  that  the taxpayer contribute one hundred percent of an employee's total
    13  public transportation service cost.
    14    (b) For the  purposes  of  this  subdivision,  "public  transportation
    15  service"  shall have the same definition as in paragraph five of section
    16  seventy-three-c of the transportation law.
    17    (c) A taxpayer may contribute to an  employee's  total  transportation
    18  service cost in the following manners:
    19    (i)  by  reimbursing an employee directly for the cost of the expenses
    20  incurred for services;
    21    (ii) by providing passes for  purchase  directly  to  employees  at  a
    22  discounted rate; or
    23    (iii) by allowing employees to incur a payroll deduction.
    24    (d)  Such  pass  must cover a minimum of one year per employee for the
    25  taxpayer to claim a credit under this section.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10961-02-7
        A. 7981                             2
     1    (e) No such credit shall:
     2    (i)  cover  public transportation service providers located outside of
     3  the state of New York;
     4    (ii) apply to public transportation networks within  the  metropolitan
     5  commuter transportation district; or
     6    (iii)  exceed the amount of tax otherwise due pursuant to this article
     7  for the taxable year.
     8    § 2. This act shall take effect immediately and shall apply to taxable
     9  years commencing on or after such effective date.