Bill Text: NY S02013 | 2015-2016 | General Assembly | Amended

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Bill Title: Subtracts from federal adjusted gross income qualified transportation fringe benefits.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2016-06-07 - referred to ways and means [S02013 Detail]

Download: New_York-2015-S02013-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         2013--A
                               2015-2016 Regular Sessions
                    IN SENATE
                                    January 21, 2015
                                       ___________
        Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment Operations -- recommitted to the Committee on Investigations  and
          Government  Operations  in  accordance  with  Senate Rule 6, sec. 8 --
          committee discharged, bill amended, ordered reprinted as  amended  and
          recommitted to said committee
        AN  ACT  to  amend  the tax law, in relation to qualified transportation
          fringe benefits
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Subsection (c) of section 612 of the tax law is amended by
     2  adding a new paragraph 44 to read as follows:
     3    (44) For taxable years  beginning  after  December  thirty-first,  two
     4  thousand  fifteen the amount of qualified transportation fringe benefits
     5  included in federal adjusted gross income, to the extent that such qual-
     6  ified transportation fringe benefits would have been excluded from gross
     7  income pursuant to paragraph five  of  subsection  (a)  of  section  one
     8  hundred  thirty-two  of the internal revenue code had the flush sentence
     9  of paragraph two of subsection (f) of section one hundred thirty-two  of
    10  the  internal  revenue code that was in effect on December thirty-first,
    11  two thousand fifteen continued in effect  after  December  thirty-first,
    12  two  thousand  fifteen;  provided,  however, that if subparagraph (A) of
    13  paragraph two of subsection (f) of section one hundred thirty-two of the
    14  internal revenue code is amended so that for any month the dollar amount
    15  in effect under such subparagraph (A) is greater than the dollar  amount
    16  in  effect  under subparagraph (B) of paragraph two of subsection (f) of
    17  section one hundred thirty-two of the internal revenue code for the same
    18  month, the flush sentence of paragraph two that was in effect on  Decem-
    19  ber  thirty-first,  two thousand fifteen shall be deemed to provide that
    20  the dollar amount in effect for subparagraph (B) shall be applied as  if
    21  the  dollar  amount therein were the same as the dollar amount in effect
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03412-02-6