STATE OF NEW YORK
________________________________________________________________________
770--B
Cal. No. 646
2013-2014 Regular Sessions
IN SENATE(Prefiled)
January 9, 2013
___________
Introduced by Sens. FUSCHILLO, AVELLA, CARLUCCI, GOLDEN, LAVALLE,
LITTLE, MARTINS, SAVINO, SERRANO, STAVISKY, ZELDIN -- read twice and
ordered printed, and when printed to be committed to the Committee on
Investigations and Government Operations -- reported favorably from
said committee and committed to the Committee on Finance -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee -- reported favorably from said committee, ordered
to first and second report, ordered to a third reading, amended and
ordered reprinted, retaining its place in the order of third reading
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 40 to read as follows:
3 (40) For taxable years beginning after December thirty-first, two
4 thousand twelve 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 eleven continued in effect after December thirty-first, two
12 thousand eleven; provided, however, that if subparagraph (A) of para-
13 graph 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
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01333-06-3
S. 770--B 2
1 month, the flush sentence of paragraph two that was in effect on Decem-
2 ber thirty-first, two thousand eleven shall be deemed to provide that
3 the dollar amount in effect for subparagraph (B) shall be applied as if
4 the dollar amount therein were the same as the dollar amount in effect
5 for such month under subparagraph (A). Notwithstanding the foregoing,
6 if, pursuant to this paragraph, the amount that would be in effect for
7 any month under subparagraph (A) or (B) of paragraph two of subsection
8 (f) of section one hundred thirty-two of the internal revenue code is
9 less than one hundred seventy-five dollars, subparagraphs (A) and (B)
10 shall be applied as if the dollar amount in effect for such month under
11 such subparagraphs was one hundred seventy-five dollars.
12 § 2. This act shall take effect immediately.
