Bill Text: NY S05971 | 2017-2018 | General Assembly | Amended

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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 3-0)

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S05971 Detail]

Download: New_York-2017-S05971-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         5971--A
                               2017-2018 Regular Sessions
                    IN SENATE
                                       May 9, 2017
                                       ___________
        Introduced by Sens. KENNEDY, HAMILTON, LATIMER -- read twice and ordered
          printed, and when printed to be committed to the Committee on Investi-
          gations  and  Government  Operations  --  committee  discharged,  bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee
        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  subdivision  five  of
    16  section 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
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10961-03-7
        S. 5971--A                          2
     1    (iii) by allowing employees to incur a payroll deduction.
     2    (d)  Such  pass  must cover a minimum of one year per employee for the
     3  taxpayer to claim a credit under this section.
     4    (e) No such credit shall:
     5    (i) cover public transportation service providers located  outside  of
     6  the state of New York; or
     7    (ii)  exceed  the amount of tax otherwise due pursuant to this article
     8  for the taxable year.
     9    (f) The aggregate amount of tax credits allowed under this subdivision
    10  in any calendar year statewide shall be fifty million dollars.
    11    (g) The commissioner shall prioritize employers who subsidize the full
    12  cost of employee transit over the fifty percent subsidy.
    13    § 2. This act shall take effect immediately and shall apply to taxable
    14  years commencing on or after such effective date.