Provides for a transportation credit for commuters residing within this state and employed or self-employed within a large city, i.e. population over one million; provides that such credit is equal to one percent of wages and self-employment income earned within New York city.
STATE OF NEW YORK
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161
2013-2014 Regular Sessions
IN ASSEMBLY(Prefiled)
January 9, 2013
___________
Introduced by M. of A. KAVANAGH -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a transporta-
tion credit for those employed in large cities
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subsections (yy) and (zz) of section 606 of the tax law, as
2 relettered by section 5 of part H of chapter 1 of the laws of 2003, are
3 relettered subsections (yyy) and (zzz) and a new subsection (aaa) is
4 added to read as follows:
5 (aaa) Transportation for commuters to large cities. (1) Allowance of
6 credit. A taxpayer shall be allowed a credit, to be computed as herein
7 provided, against the tax imposed by this article for qualified employ-
8 ees and qualified self-employees.
9 (2) Qualified employee or self-employee is an individual who:
10 (A) is a full-time resident of the state of New York,
11 (B) is employed or self-employed within a city having a population
12 greater than one million (or large city), and
13 (C) resides outside such city and commutes to employment within such
14 city by means of roads, bridges, paths, railroad lines, air space, with-
15 in the state of New York.
16 (3) Amount of credit. The amount of credit shall be one percent of
17 large city income defined as the sum of wages earned within a large city
18 plus net earnings from self-employment within a large city.
19 § 2. This act shall take effect immediately and shall apply to all
20 taxable years beginning on or after the first of January next succeeding
21 the date on which this act shall have become law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03076-01-3
