Grants a personal income tax credit for 20% of the tolls paid by the taxpayer to the port authority of New York and New Jersey, when the aggregate of such tolls exceed 2% of the taxpayers federal adjusted gross income for the tax year.
STATE OF NEW YORK
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6140
IN SENATE
January 5, 2012
___________
Introduced by Sen. LANZA -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations
AN ACT to amend the tax law, in relation to establishing a personal
income tax credit for certain tolls and fares paid for the use of
transportation facilities operated by the port authority of New York
and New Jersey
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 606 of the tax law is amended by adding a new
2 subsection (uu) to read as follows:
3 (uu) Port authority toll credit. (1) Allowance of credit. A taxpayer
4 shall be allowed a credit against the tax imposed by this article equal
5 to twenty percent of (a) any tolls paid by the taxpayer during the tax
6 year for the operation of a motor vehicle across a bridge or through a
7 tunnel project or improvement that is maintained and operated by the
8 port authority of New York and New Jersey, and (b) any fares paid by
9 the taxpayer during the tax year for the carriage of a passenger by
10 passenger rail service over a railroad or through a tube or tunnel
11 project or improvement that is maintained and operated by the port
12 authority of New York and New Jersey or any subsidiary thereof; if in
13 the aggregate, such tolls and fares paid by the taxpayer during the tax
14 year exceed two percent of such taxpayer's federal adjusted gross income
15 for such tax year.
16 (2) No credit shall be granted pursuant to this subsection for tolls
17 or fares:
18 (a) paid as a fine, administrative fee or other type of payment made
19 for violation of a toll or fare;
20 (b) paid as an administrative fee, processing fee or other payment for
21 the purpose of establishing an electronic tolling account, acquiring
22 electronic tolling equipment or any other administrative purpose;
23 (c) reimbursed to the taxpayer by or for the taxpayer's employer;
24 (d) deductible by the taxpayer from federal adjusted gross income as
25 an unreimbursed employee expense pursuant to section 162 of the federal
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13907-01-2
S. 6140 2
1 Internal Revenue Code, without regard to any limits or floor determined
2 pursuant to section 67 of such code, even if not so deducted;
3 (e) deductible in determining taxable income of a business corporation
4 pursuant to article nine-A of this chapter; and
5 (f) deductible in determining the taxable income of the taxpayer
6 pursuant to any other provision of this article.
7 (3) If during any tax year, the tax credit granted pursuant to this
8 subsection exceeds tax as reduced by all other credits granted pursuant
9 to this article, the taxpayer may receive, and the comptroller, subject
10 to a certificate of the commissioner, shall pay as an overpayment, with-
11 out interest, the amount of such excess.
12 § 2. This act shall take effect immediately and shall apply to tax
13 years commencing on or after January 1, 2012.
