senate Bill S6737B

2013-2014 Legislative Session

Establishes corporate, business franchise, personal, insurance and banking tax credits for the provision of employee federal qualified transportation fringe benefits

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 05, 2014 print number 6737b
amend and recommit to investigations and government operations
Apr 23, 2014 print number 6737a
amend and recommit to investigations and government operations
Mar 05, 2014 referred to investigations and government operations

Co-Sponsors

S6737 - Details

Law Section:
Tax Law
Laws Affected:
Add §§42 & 187-t, amd §§210, 606, 1456 & 1511, Tax L

S6737 - Summary

Establishes corporate, business franchise, personal, insurance and banking tax credits for the provision of employee federal qualified transportation fringe benefits.

S6737 - Sponsor Memo

S6737 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6737

                            I N  S E N A T E

                              March 5, 2014
                               ___________

Introduced  by  Sens. CARLUCCI, KLEIN, SAVINO, VALESKY -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations and Government Operations

AN ACT to amend the tax law, in relation to establishing tax credits for
  taxpayers  which provide their employees with access to federal quali-
  fied transportation fringe benefits

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The tax law is amended by adding a new section 41 to read
as follows:
  S 41. CREDIT FOR PROVISION OF EMPLOYEE FEDERAL  QUALIFIED  TRANSPORTA-
TION  FRINGE  BENEFITS.  (A)  ALLOWANCE  OF CREDIT. FOR THE TAXABLE YEAR
COMMENCING ON JANUARY FIRST, TWO THOUSAND FOURTEEN, A  TAXPAYER  SUBJECT
TO   TAX   UNDER   ARTICLE   NINE,  NINE-A,  TWENTY-TWO,  THIRTY-TWO  OR
THIRTY-THREE OF THIS CHAPTER SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX,
PURSUANT TO  THE  PROVISIONS  REFERENCED  IN  SUBDIVISION  (D)  OF  THIS
SECTION.  THE  CREDIT  SHALL BE ALLOWED WHERE A TAXPAYER HAS ESTABLISHED
AND IMPLEMENTED FEDERAL QUALIFIED TRANSPORTATION FRINGE BENEFITS FOR ITS
EMPLOYEES DURING THE TAXABLE YEAR IN WHICH SUCH CREDIT IS  CLAIMED,  AND
THE  TAXPAYER HAS NOT PROVIDED SUCH BENEFITS TO ITS EMPLOYEES DURING ANY
PRIOR TAXABLE YEAR. THE CREDIT SHALL BE EQUAL TO FIFTY DOLLARS FOR  EACH
EMPLOYEE  OF  THE  TAXPAYER WHO ELECTED TO PARTICIPATE IN THE TAXPAYER'S
FEDERAL QUALIFIED TRANSPORTATION  FRINGE  BENEFITS  PROGRAM  DURING  THE
TAXABLE  YEAR  IN WHICH SUCH PROGRAM IS ESTABLISHED BY THE TAXPAYER. THE
AMOUNT OF THE CREDIT GRANTED TO ANY TAXPAYER PURSUANT  TO  THIS  SECTION
SHALL NOT EXCEED FIFTY THOUSAND DOLLARS.
  (B)  DEFINITION. AS USED IN THIS SECTION, "FEDERAL QUALIFIED TRANSPOR-
TATION FRINGE BENEFITS" MEANS A QUALIFIED FEDERAL TRANSPORTATION  FRINGE
BENEFITS PROGRAM ESTABLISHED AND IMPLEMENTED BY A TAXPAYER IN ACCORDANCE
WITH  SECTION  132(F)  OF  THE INTERNAL REVENUE CODE AND THE REGULATIONS
ADOPTED PURSUANT THERETO.  EVERY SUCH PROGRAM SHALL BE ADMINISTERED BY A
THIRD PARTY PROGRAM ADMINISTRATOR.
  (C) CROSS REFERENCES. FOR APPLICATION OF THE CREDIT  PROVIDED  FOR  IN
THIS SECTION, SEE THE FOLLOWING PROVISIONS OF THIS CHAPTER:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

Co-Sponsors

S6737A - Details

Law Section:
Tax Law
Laws Affected:
Add §§42 & 187-t, amd §§210, 606, 1456 & 1511, Tax L

S6737A - Summary

Establishes corporate, business franchise, personal, insurance and banking tax credits for the provision of employee federal qualified transportation fringe benefits.

S6737A - Sponsor Memo

S6737A - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6737--A

                            I N  S E N A T E

                              March 5, 2014
                               ___________

Introduced  by  Sens. CARLUCCI, KLEIN, SAVINO, VALESKY -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations 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 establishing tax credits for
  taxpayers which provide their employees with access to federal  quali-
  fied transportation fringe benefits

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The tax law is amended by adding a new section 42  to  read
as follows:
  S  42.  CREDIT FOR PROVISION OF EMPLOYEE FEDERAL QUALIFIED TRANSPORTA-
TION FRINGE BENEFITS. (A) ALLOWANCE OF  CREDIT.  FOR  THE  TAXABLE  YEAR
COMMENCING  ON  JANUARY FIRST, TWO THOUSAND FOURTEEN, A TAXPAYER SUBJECT
TO  TAX  UNDER  ARTICLE  NINE,   NINE-A,   TWENTY-TWO,   THIRTY-TWO   OR
THIRTY-THREE OF THIS CHAPTER SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX,
PURSUANT  TO  THE  PROVISIONS  REFERENCED  IN  SUBDIVISION  (D)  OF THIS
SECTION. THE CREDIT SHALL BE ALLOWED WHERE A  TAXPAYER  HAS  ESTABLISHED
AND IMPLEMENTED FEDERAL QUALIFIED TRANSPORTATION FRINGE BENEFITS FOR ITS
EMPLOYEES  DURING  THE TAXABLE YEAR IN WHICH SUCH CREDIT IS CLAIMED, AND
THE TAXPAYER HAS NOT PROVIDED SUCH BENEFITS TO ITS EMPLOYEES DURING  ANY
PRIOR  TAXABLE YEAR. THE CREDIT SHALL BE EQUAL TO FIFTY DOLLARS FOR EACH
EMPLOYEE OF THE TAXPAYER WHO ELECTED TO PARTICIPATE  IN  THE  TAXPAYER'S
FEDERAL  QUALIFIED  TRANSPORTATION  FRINGE  BENEFITS  PROGRAM DURING THE
TAXABLE YEAR IN WHICH SUCH PROGRAM IS ESTABLISHED BY THE  TAXPAYER.  THE
AMOUNT  OF  THE  CREDIT GRANTED TO ANY TAXPAYER PURSUANT TO THIS SECTION
SHALL NOT EXCEED FIFTY THOUSAND DOLLARS.
  (B) DEFINITION. AS USED IN THIS SECTION, "FEDERAL QUALIFIED  TRANSPOR-
TATION  FRINGE BENEFITS" MEANS A QUALIFIED FEDERAL TRANSPORTATION FRINGE
BENEFITS PROGRAM ESTABLISHED AND IMPLEMENTED BY A TAXPAYER IN ACCORDANCE
WITH SECTION 132(F) OF THE INTERNAL REVENUE  CODE  AND  THE  REGULATIONS
ADOPTED PURSUANT THERETO.  EVERY SUCH PROGRAM SHALL BE ADMINISTERED BY A
THIRD PARTY PROGRAM ADMINISTRATOR.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

Co-Sponsors

S6737B (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Add §§42 & 187-t, amd §§210, 606, 1456 & 1511, Tax L

S6737B (ACTIVE) - Summary

Establishes corporate, business franchise, personal, insurance and banking tax credits for the provision of employee federal qualified transportation fringe benefits.

S6737B (ACTIVE) - Sponsor Memo

S6737B (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6737--B

                            I N  S E N A T E

                              March 5, 2014
                               ___________

Introduced  by  Sens. CARLUCCI, KLEIN, SAVINO, VALESKY -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Investigations and Government Operations -- committee discharged, bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN ACT to amend the tax law, in relation to establishing tax credits for
  taxpayers  which provide their employees with access to federal quali-
  fied transportation fringe benefits

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The tax law is amended by adding a new section 42 to read
as follows:
  S 42. CREDIT FOR PROVISION OF EMPLOYEE FEDERAL  QUALIFIED  TRANSPORTA-
TION  FRINGE  BENEFITS.  (A)  ALLOWANCE  OF CREDIT. FOR THE TAXABLE YEAR
COMMENCING ON JANUARY FIRST, TWO THOUSAND FOURTEEN, A  TAXPAYER  SUBJECT
TO   TAX   UNDER   ARTICLE   NINE,  NINE-A,  TWENTY-TWO,  THIRTY-TWO  OR
THIRTY-THREE OF THIS CHAPTER SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX,
PURSUANT TO  THE  PROVISIONS  REFERENCED  IN  SUBDIVISION  (D)  OF  THIS
SECTION.  THE  CREDIT  SHALL BE ALLOWED WHERE A TAXPAYER HAS ESTABLISHED
AND IMPLEMENTED FEDERAL QUALIFIED TRANSPORTATION FRINGE BENEFITS FOR ITS
EMPLOYEES DURING THE TAXABLE YEAR IN WHICH SUCH CREDIT IS  CLAIMED,  AND
THE  TAXPAYER HAS NOT PROVIDED SUCH BENEFITS TO ITS EMPLOYEES DURING ANY
PRIOR TAXABLE YEAR. THE CREDIT SHALL BE EQUAL TO FIFTY DOLLARS FOR  EACH
EMPLOYEE  OF  THE  TAXPAYER WHO ELECTED TO PARTICIPATE IN THE TAXPAYER'S
FEDERAL QUALIFIED TRANSPORTATION  FRINGE  BENEFITS  PROGRAM  DURING  THE
TAXABLE  YEAR  IN WHICH SUCH PROGRAM IS ESTABLISHED BY THE TAXPAYER. THE
AMOUNT OF THE CREDIT GRANTED TO ANY TAXPAYER PURSUANT  TO  THIS  SECTION
SHALL NOT EXCEED FIFTY THOUSAND DOLLARS.
  (B)  DEFINITION. AS USED IN THIS SECTION, "FEDERAL QUALIFIED TRANSPOR-
TATION FRINGE BENEFITS" MEANS A QUALIFIED FEDERAL TRANSPORTATION  FRINGE
BENEFITS PROGRAM ESTABLISHED AND IMPLEMENTED BY A TAXPAYER IN ACCORDANCE
WITH  SECTION  132(F)  OF  THE INTERNAL REVENUE CODE AND THE REGULATIONS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13197-05-4

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