Assembly Bill A10483

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

                                  10483

                          I N  A S S E M B L Y

                              May 31, 2016
                               ___________

Introduced  by  M.  of  A.  SCHIMMINGER -- read once and referred to the
  Committee on Ways and Means

AN ACT to amend the tax law, in  relation  to  establishing  a  personal
  income  tax  credit  for  parking  expenses  paid by a taxpayer in the
  course of his or her place of employment

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

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (ccc) to read as follows:
  (CCC) COMMUTER PARKING CREDIT. (1) GENERAL. EACH INDIVIDUAL  QUALIFIED
TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT  NOT TO EXCEED TWO HUNDRED FIFTY
DOLLARS DURING ANY TAXABLE YEAR, TO BE  COMPUTED  AS  PROVIDED  IN  THIS
SUBSECTION,  AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR QUALIFIED PARK-
ING EXPENSES PAID DURING SUCH TAXABLE YEAR.
  (2) DEFINITIONS. (A) THE TERM "QUALIFIED TAXPAYER"  MEANS  A  RESIDENT
TAXPAYER WHO COMMUTES TO AND FROM HIS OR HER PLACE OF EMPLOYMENT AND WHO
PAYS  FOR HIS OR HER PARKING NOT LESS THAN THREE TIMES EACH WEEK FOR NOT
LESS THAN FORTY-FIVE WEEKS DURING THE TAXABLE YEAR.
  (B) THE TERM "QUALIFIED PARKING EXPENSES" MEANS PARKING  FEES  IMPOSED
FOR  USE  OF  A  PARKING SPOT ON A STREET OR IN A GARAGE, PARKING LOT OR
OTHER PLACE OF BUSINESS ENGAGED IN PROVIDING PARKING FOR MOTOR  VEHICLES
WITHIN  THE  STATE, AND FEES WERE PAID WHILE A QUALIFIED TAXPAYER WAS IN
THE COURSE OF COMMUTING TO AND FROM HIS OR HER PLACE OF EMPLOYMENT.
  (3) AMOUNT OF CREDIT. THE  AMOUNT  OF  THE  CREDIT  PURSUANT  TO  THIS
SUBSECTION  SHALL  BE  THE  FIRST TWO HUNDRED FIFTY DOLLARS OF QUALIFIED
PARKING EXPENSES PAID BY AN INDIVIDUAL  QUALIFIED  TAXPAYER  DURING  THE
TAXABLE  YEAR,  EXCEPT  IN  THE  CASE WHERE TWO QUALIFIED TAXPAYERS FILE
JOINTLY, THE AMOUNT OF SUCH CREDIT  SHALL  BE  THE  FIRST  FIVE  HUNDRED
DOLLARS OF THE QUALIFIED PARKING EXPENSES PAID BY SUCH QUALIFIED TAXPAY-
ERS  DURING  THE TAXABLE YEAR AS COMPUTED BY ADDING THE TAX CREDITS EACH
WOULD BE ALLOWED PURSUANT TO THIS SUBSECTION IF THEY EACH FILED INDIVID-
UALLY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15574-01-6

              

A. 10483                            2

  (4) PROOF OF CLAIM. THE COMMISSIONER MAY REQUIRE A QUALIFIED  TAXPAYER
TO  FURNISH PROOF OF HIS OR HER QUALIFIED PARKING EXPENSES IN SUPPORT OF
HIS OR HER CLAIM FOR CREDIT UNDER THIS SUBSECTION.
  S  2.  This  act  shall take effect immediately and shall apply to the
taxable year in which it takes effect and taxable years commencing ther-
eafter.