Bill Text: NY A07367 | 2019-2020 | General Assembly | Introduced

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Bill Title: Creates a congestion toll offset tax credit.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2020-01-08 - referred to ways and means [A07367 Detail]

Download: New_York-2019-A07367-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7367
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                     April 26, 2019
                                       ___________
        Introduced  by  M.  of  A.  ZEBROWSKI, JAFFEE, JACOBSON -- read once and
          referred to the Committee on Ways and Means
        AN ACT to amend the tax law, in relation to creating a  congestion  toll
          offset tax credit
          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 (kkk) to read as follows:
     3    (kkk) Congestion toll offset tax credit.  (1) For taxable years begin-
     4  ning  on  or  after  January  first, two thousand twenty-one, a resident
     5  individual whose primary residence is located in the county of  Rockland
     6  or  the  county  of  Orange  shall be allowed a credit to be computed as
     7  provided in this subsection, against the tax imposed by this article for
     8  qualified tolls paid during such taxable year.
     9    (2) As used in this subsection, "qualified  tolls"  means  the  amount
    10  charged to a taxpayer's vehicle, up to the congestion toll amount pursu-
    11  ant to article forty-four-C of the vehicle and traffic law, for crossing
    12  either the Governor Mario M. Cuomo bridge or George Washington bridge if
    13  such  taxpayer  subsequently,  within two hours of crossing such bridge,
    14  entered the congestion tolling zone.
    15    (3) The amount of the credit pursuant  to  this  subsection  shall  be
    16  qualified  tolls  paid  by a taxpayer during the taxable year, except in
    17  the case where two qualified taxpayers file jointly, the amount of  such
    18  credit  shall  be  the  combined  qualified tolls paid by such qualified
    19  taxpayers during the taxable year as computed by adding the tax  credits
    20  each  would  be  allowed  pursuant to this subsection if they each filed
    21  individually.
    22    § 2. This act shall take effect immediately and  shall  apply  to  the
    23  taxable year in which it takes effect and taxable years commencing ther-
    24  eafter.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11016-03-9