Bill Text: NJ S894 | 2010-2011 | Regular Session | Introduced
Bill Title: Allows a gross income tax deduction for the purchase price of monthly passes used for commuting to work by train, bus or ferry.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2010-02-01 - Introduced in the Senate, Referred to Senate Transportation Committee [S894 Detail]
Download: New_Jersey-2010-S894-Introduced.html
Sponsored by:
Senator BILL BARONI
District 14 (Mercer and Middlesex)
SYNOPSIS
Allows a gross income tax deduction for the purchase price of monthly passes used for commuting to work by train, bus or ferry.
CURRENT VERSION OF TEXT
As introduced.
An Act allowing a gross income tax deduction for the purchase price of monthly passes used for commuting to work by train, bus or ferry, supplementing Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. A taxpayer shall be allowed to deduct from gross income an amount paid by the taxpayer during the taxable year to purchase qualified monthly commuting passes. A taxpayer shall be allowed to deduct from gross income the amount paid to purchase no more than 12 qualified monthly commuting passes in a taxable year. In the case of individual taxpayers filing a joint return as a married or civil union couple, they shall be allowed to deduct from gross income the amount paid to purchase 12 qualified monthly commuting passes per individual taxpayer in a taxable year.
b. As used in this section:
"Commuting" means traveling from the taxpayer's principal residence to the taxpayer's workplace, or termini near those places, one of which is located in the State.
"Ferry passenger service" means as is defined pursuant to section 3 of the "New Jersey Public Transportation Act of 1979," P.L.1979, c.150 (C.27:25-3).
"Motorbus regular route service" means as is defined pursuant to section 3 of the "New Jersey Public Transportation Act of 1979," P.L.1979, c.150 (C.27:25-3).
"Qualified monthly commuting pass" means a monthly pass purchased by a taxpayer for the taxpayer's use in commuting via rail passenger service, motorbus regular route service or ferry passenger service.
"Rail passenger service" means as is defined pursuant to section 3 of the "New Jersey Public Transportation Act of 1979," P.L.1979, c.150 (C.27:25-3).
2. This act shall take effect immediately and apply to taxable years beginning after the date of enactment.
STATEMENT
This bill allows taxpayers to take a gross income tax deduction for the purchase price of monthly passes used for commuting to work by train, bus or ferry. The purpose of this bill is to provide some financial relief to New Jersey taxpayers who rely on monthly passes for commuting to work by train, bus or ferry.
Under the bill a taxpayer may take a gross income tax deduction for the amount paid during the taxable year to purchase qualified monthly commuting passes. A qualified monthly commuting pass includes monthly passes for train, bus or ferry service that are used for traveling from the taxpayer's principal residence to the taxpayer's workplace, or termini near those places, one of which is located in the State.
