NY State Assembly Bill 2017-A8956A

Assembly Bill A8956A

2017-2018 Legislative Session

Authorizes the city of New York to impose a personal income surcharge on high income residents to fund transit improvements and reduced fares for low income residents

download bill text pdf

Archive: Last Bill Status - In Assembly Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 27, 2018	print number 8956a
Feb 27, 2018	amend (t) and recommit to corporations, authorities and commissions
Jan 09, 2018	referred to corporations, authorities and commissions

Bill Amendments

Original

A (Active)

2017-A8956 - Details

See Senate Version of this Bill:: S6830
Current Committee:: Assembly Corporations, Authorities And Commissions
Law Section:: Public Authorities Law
Laws Affected:: Amd §§1205 & 2799-hh, add §1270-i, Pub Auth L; add §1304-E, amd §§1310 & 1313, Tax L; add §11-1704.2, amd §11-1706, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:: 2019-2020: A2743, S3246
2021-2022: A4434, S1194
2023-2024: A4474, S602
2025-2026: S3623

2017-A8956 - Summary

Authorizes the city of New York to impose a personal income surcharge on high income residents to fund transit improvements and reduced fares for low income residents.

2017-A8956 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8956
 
                           I N  A S S E M B L Y
 
                              January 9, 2018
                                ___________
 
 Introduced  by  M.  of  A.  O'DONNELL  --  read once and referred to the
   Committee on Corporations, Authorities and Commissions
 
 AN ACT to amend the public authorities law, in relation to providing for
   the appointment of an emergency manager for the metropolitan transpor-
   tation authority, and providing for his or her powers and  duties;  to
   amend  the  tax  law,  in relation to establishing personal income tax
   rates and a tax table benefit recapture for taxpayers  who  reside  in
   the metropolitan commuter transportation district; to direct the comp-
   troller  to  transfer  moneys in the general fund to the MTA financial
   assistance fund; and providing for the repeal  of  certain  provisions
   upon expiration thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title. This act shall be known and may  be  cited  as
 the "better trains, better cities act of 2017".
   §  2.  The  public  authorities law is amended by adding a new section
 1263-a to read as follows:
   § 1263-A. EMERGENCY MANAGER. 1. THERE IS HEREBY ESTABLISHED THE OFFICE
 OF EMERGENCY MANAGER OF THE AUTHORITY. SUCH MANAGER  SHALL  OVERSEE  THE
 AUTHORITY,  AND  IMPLEMENT THE PLAN ESTABLISHED BY THE EMERGENCY MANAGER
 SUBMITTED TO EACH HOUSE OF THE LEGISLATURE  DURING  THE  COURSE  OF  THE
 CONFIRMATION OF THE EMERGENCY MANAGER.
   2.  THE  EMERGENCY  MANAGER OF THE AUTHORITY SHALL BE APPOINTED BY THE
 GOVERNOR, SUBJECT TO SEPARATE CONFIRMATION BY EACH OF THE HOUSES OF  THE
 LEGISLATURE. SUCH CONFIRMATIONS SHALL BE COMPLETED WITHIN NINETY DAYS OF
 THE  EFFECTIVE  DATE OF THIS SECTION; PROVIDED, HOWEVER, THAT UPON NOMI-
 NATION BY THE GOVERNOR, EACH NOMINEE FOR EMERGENCY MANAGER SHALL DEVELOP
 AND SUBMIT TO THE LEGISLATURE, PRIOR TO HIS OR HER CONFIRMATION, A  PLAN
 OUTLINING  HOW  THE  NOMINEE,  IF  CONFIRMED,  WILL  EXPEDITE REPAIRS TO
 AUTHORITY FACILITIES AND EQUIPMENT,  EXPAND  CAPACITY,  AND  ENSURE  THE
 RELIABILITY AND SAFETY OF THE AUTHORITY FACILITIES AND EQUIPMENT AND THE
 SERVICES PROVIDED THEREBY. NO NOMINEE SHALL BE CONFIRMED UNTIL SUCH PLAN
 SHALL HAVE BEEN RECEIVED AND REVIEWED BY EACH HOUSE OF THE LEGISLATURE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

 AA                                                         LBD13277-05-7

 A. 8956                             2
 
   3. THE EMERGENCY MANAGER SHALL HAVE ALL THE POWERS OF THE BOARD OF THE
 AUTHORITY  AS  THEY RELATE TO EXPEDITING REPAIRS TO AUTHORITY FACILITIES
 AND EQUIPMENT, EXPANDING CAPACITY, AND ENSURING RELIABILITY  AND  SAFETY
 OF THE AUTHORITY FACILITIES AND EQUIPMENT AND SERVICES PROVIDED THEREBY,
 AND SHALL IMPLEMENT THE PLAN HE OR SHE SUBMITTED TO THE LEGISLATURE. THE
 EMERGENCY  MANAGER'S AUTHORITY TO IMPLEMENT HIS OR HER PLAN SHALL SUPER-
 SEDE THE AUTHORITY OF THE BOARD OF  THE  AUTHORITY,  UNLESS  SUCH  BOARD
 SHALL  BY  A  VOTE  OF  TEN  VOTING MEMBERS THEREOF OVERRIDES A SPECIFIC
 ACTION OF THE EMERGENCY MANAGER.
   § 3. Clauses (i), (ii) and (iii) of subparagraph (B) of paragraph 1 of
 subsection (a) of section 601 of the tax law, as added by section  1  of
 part  R  of  chapter  59  of  the  laws  of 2017, are amended to read as
 follows:
   (i) For taxable years beginning in two thousand eighteen the following
 rates shall apply:
   1. FOR TAXPAYERS WHO  RESIDE  OUTSIDE  OF  THE  METROPOLITAN  COMMUTER
 TRANSPORTATION  DISTRICT  CREATED  AND  ESTABLISHED  PURSUANT TO SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 If the New York taxable income is:    The tax is:
 Not over $17,150                      4% of the New York taxable
                                       income
 Over $17,150 but not over $23,600     $686 plus 4.5% of excess over
                                       $17,150
 Over $23,600 but not over $27,900     $976 plus 5.25% of excess over
                                       $23,600
 Over $27,900 but not over $43,000     $1,202 plus 5.9% of excess over
                                       $27,900
 Over $43,000 but not over $161,550    $2,093 plus 6.33% of excess over
                                       $43,000
 Over $161,550 but not over $323,200   $9,597 plus 6.57% of excess over
                                       $161,550
 Over $323,200 but not over $2,155,350 $20,218 plus 6.85% of excess over
                                       $323,200
 Over $2,155,350                       $145,720 plus 8.82% of excess over
                                       $2,155,350
   2. FOR TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN  COMMUTER  TRANS-
 PORTATION  DISTRICT  CREATED  AND ESTABLISHED PURSUANT TO SECTION TWELVE
 HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 IF THE NEW YORK TAXABLE INCOME IS:    THE TAX IS:
 NOT OVER $17,150                      4% OF THE NEW YORK TAXABLE
                                       INCOME
 OVER $17,150 BUT NOT OVER $23,600     $686 PLUS 4.5% OF EXCESS OVER
                                       $17,150
 OVER $23,600 BUT NOT OVER $27,900     $976 PLUS 5.25% OF EXCESS OVER
                                       $23,600
 OVER $27,900 BUT NOT OVER $43,000     $1,202 PLUS 5.9% OF EXCESS OVER
                                       $27,900
 OVER $43,000 BUT NOT OVER $161,550    $2,093 PLUS 6.21% OF EXCESS OVER
                                       $43,000
 OVER $161,550 BUT NOT OVER $323,200   $9,597 PLUS 6.57% OF EXCESS OVER
                                       $161,550
 OVER $323,200 BUT NOT OVER            $20,218 PLUS 6.85% OF EXCESS OVER
 $2,000,000                            $323,200
 OVER $2,000,000 BUT NOT OVER          $135,079 PLUS 8.98% OF EXCESS
 $6,000,000                            OVER $2,000,000
 OVER $6,000,000 BUT NOT OVER          $494,279 PLUS 9.08% OF EXCESS

 A. 8956                             3
 
 $11,000,000                           OVER $6,000,000
 OVER $11,000,000                      $948,279 PLUS 9.28% OF EXCESS
                                       OVER $11,000,000
   (ii)  For taxable years beginning in two thousand nineteen the follow-
 ing rates shall apply:
   1. FOR TAXPAYERS WHO  RESIDE  OUTSIDE  OF  THE  METROPOLITAN  COMMUTER
 TRANSPORTATION  DISTRICT  CREATED  AND  ESTABLISHED  PURSUANT TO SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 Not over $17,150                      4% of the New York taxable
                                       income
 Over $17,150 but not over $23,600     $686 plus 4.5% of excess over
                                       $17,150
 Over $23,600 but not over $27,900     $976 plus 5.25% of excess over
                                       $23,600
 Over $43,000 but not over $161,550    $2,093 plus 6.21% of excess over
                                       $43,000
 Over $161,550 but not over $323,200   $9,455 plus 6.49% of excess over
                                       $161,550
 Over $323,200 but not over            $19,946 plus 6.85% of excess over
 $2,155,350                            $323,200
 Over $2,155,350                       $145,448 plus 8.82% of excess over
                                       $2,155,350
   2. FOR TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN  COMMUTER  TRANS-
 PORTATION  DISTRICT  CREATED  AND  ESTABLISHED  PURSUANT  TO THE SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 NOT OVER $17,150                      4% OF THE NEW YORK TAXABLE
                                       INCOME
 OVER $17,150 BUT NOT OVER $23,600     $686 PLUS 4.5% OF EXCESS OVER
                                       $17,150
 OVER $23,600 BUT NOT OVER $27,900     $976 PLUS 5.25% OF EXCESS OVER
                                       $23,600
 OVER $27,900 BUT NOT OVER $43,000     $1,202 PLUS 5.9% OF EXCESS OVER
                                       $27,900
 OVER $43,000 BUT NOT OVER $161,550    $2,093 PLUS 6.21% OF EXCESS OVER
                                       $43,000
 OVER $161,550 BUT NOT OVER $323,200   $9,455 PLUS 6.49% OF EXCESS OVER
                                       $161,550
 OVER $323,200 BUT NOT OVER $2,000,000 $19,946 PLUS 6.85% OF EXCESS OVER
                                       $323,200
 OVER $2,000,000 BUT NOT OVER          $134,807 PLUS 8.98% OF EXCESS
 $6,000,000                            OVER 2,000,000
 OVER $6,000,000 BUT NOT OVER          $494,007 PLUS 9.08% OF EXCESS
 $11,000,000                           OVER $6,000,000
 OVER $11,000,000                      $948,000 PLUS 9.28% OVER
                                       $11,000,000
   (iii) For taxable years beginning in two thousand twenty the following
 rates shall apply:
   1. FOR TAXPAYERS WHO  RESIDE  OUTSIDE  OF  THE  METROPOLITAN  COMMUTER
 TRANSPORTATION  DISTRICT  CREATED  AND  ESTABLISHED  PURSUANT TO SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 If the New York taxable income is:    The tax is:
 Not over $17,150                      4% of the New York taxable income
 Over $17,150 but not over $23,600     $686 plus 4.5% of excess over
                                       $17,150
 Over $23,600 but not over $27,900     $976 plus 5.25% of excess over

 A. 8956                             4
 
                                       $23,600
 Over $27,900 but not over $43,000     $1,202 plus 5.9% of excess over
                                       $27,900
 Over $43,000 but not over $161,550    $2,093 plus 6.09% of excess over
                                       $43,000
 Over $161,550 but not over $323,200   $9,313 plus 6.41% of excess over
                                       $161,550
 Over $323,200                         $19,674 plus 6.85% of excess over
                                       $323,200
   2.  FOR  TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN COMMUTER TRANS-
 PORTATION DISTRICT CREATED AND ESTABLISHED PURSUANT  TO  SECTION  TWELVE
 HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 IF THE NEW YORK TAXABLE INCOME IS:    THE TAX IS:
 NOT OVER $17,150                      4% OF THE NEW YORK TAXABLE INCOME
 OVER $17,150 BUT NOT OVER $23,600     $686 PLUS 4.5% OF EXCESS OVER
                                       $17,150
 OVER $23,600 BUT NOT OVER $27,900     $976 PLUS 5.25% OF EXCESS OVER
                                       $23,600
 OVER $27,900 BUT NOT OVER $43,000     $1,202 PLUS 5.9% OF EXCESS OVER
                                       $27,900
 OVER $43,000 BUT NOT OVER $161,550    $2,093 PLUS 6.09% OF EXCESS OVER
                                       $43,000
 OVER $161,550 BUT NOT OVER $323,200   $9,313 PLUS 6.41% OF EXCESS OVER
                                       $161,550
 OVER $323,200 BUT NOT OVER            $19,674 PLUS 6.85% OF EXCESS OVER
 $2,000,000                            $323,200
 OVER $2,000,000 BUT NOT OVER          $134,535 PLUS 8.98% OF EXCESS OVER
 $6,000,000                            $2,000,000
 OVER $6,000,000 BUT NOT OVER          $493,735 PLUS 9.08% OF EXCESS OVER
 $11,000,000                           $6,000,000
 OVER $11,000,000                      $947,735 PLUS 9.28% OF EXCESS OVER
                                       $11,000,000
   § 4. Clauses (i), (ii) and (iii) of subparagraph (B) of paragraph 1 of
 subsection  (b)  of section 601 of the tax law, as added by section 2 of
 part R of chapter 59 of the  laws  of  2017,  are  amended  to  read  as
 follows:
   (i) For taxable years beginning in two thousand eighteen the following
 rates shall apply:
   1.  FOR  TAXPAYERS  WHO  RESIDE  OUTSIDE  OF THE METROPOLITAN COMMUTER
 TRANSPORTATION DISTRICT CREATED  AND  ESTABLISHED  PURSUANT  TO  SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 If the New York taxable income is:    The tax is:
 Not over $12,800                      4% of the New York taxable income
 Over $12,800 but not over $17,650     $512 plus 4.5% of excess over $12,800
 Over $17,650 but not over $20,900     $730 plus 5.25% of excess over
                                       $17,650
 Over $20,900 but not over $32,200     $901 plus 5.9% of excess over $20,900
 Over $32,200 but not over $107,650    $1,568 plus 6.33% of excess over
                                       $32,200
 Over $107,650 but not over $269,300   $6,344 plus 6.57% of excess over
                                       $107,650
 Over $269,300 but not over $1,616,450 $16,964 plus 6.85% of excess over
                                       $269,300
 Over $1,616,450                       $109,244 plus 8.82% of excess over
                                       $1,616,450

 A. 8956                             5
 
   2.  FOR  TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN COMMUTER TRANS-
 PORTATION DISTRICT CREATED  AND  ESTABLISHED  PURSUANT  TO  THE  SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 IF THE NEW YORK TAXABLE INCOME IS:    THE TAX IS:
 NOT OVER $12,800                      4% OF THE NEW YORK TAXABLE INCOME
 OVER $12,800 BUT NOT OVER $17,650     $512 PLUS 4.5% OF EXCESS OVER $12,800
 OVER $17,650 BUT NOT OVER $20,900     $730 PLUS 5.25% OF EXCESS OVER
                                       $17,650
 OVER $20,900 BUT NOT OVER $32,200     $901 PLUS 5.9% OF EXCESS OVER $20,900
 OVER $32,200 BUT NOT OVER $107,650    $1,568 PLUS 6.33% OF EXCESS OVER
                                       $32,200
 OVER $107,650 BUT NOT OVER $269,300   $6,344 PLUS 6.57% OF EXCESS OVER
                                       $107,650
 OVER $269,300 BUT NOT OVER            $16,964 PLUS 6.85% OF EXCESS OVER
 $1,605,650                            $269,300
 OVER $1,605,650 BUT NOT OVER          $108,504 PLUS 8.98% OF EXCESS OVER
 $5,500,000                            $1,605,650
 OVER $5,500,000 BUT NOT OVER          $458,217 PLUS 9.08% OF EXCESS OVER
 $10,500,000                           $5,500,000
 OVER $10,500,000                      $912,217 PLUS 9.28% OF EXCESS OVER
                                       $10,500,000
   (ii)  For taxable years beginning in two thousand nineteen the follow-
 ing rates shall apply:
   1. FOR TAXPAYERS WHO  RESIDE  OUTSIDE  OF  THE  METROPOLITAN  COMMUTER
 TRANSPORTATION  DISTRICT  CREATED  AND  ESTABLISHED  PURSUANT TO SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 If the New York taxable income is:    The tax is:
 Not over $12,800                      4% of the New York taxable income
 Over $12,800 but not over $17,650     $512 plus 4.5% of excess over $12,800
 Over $17,650 but not over $20,900     $730 plus 5.25% of excess over
                                       $17,650
 Over $20,900 but not over $32,200     $901 plus 5.9% of excess over $20,900
 Over $32,200 but not over $107,650    $1,568 plus 6.21% of excess over
                                       $32,200
 Over $107,650 but not over $269,300   $6,253 plus 6.49% of excess over
                                       $107,650
 Over $269,300 but not over            $16,744 plus 6.85% of excess over
 $1,616,450                            $269,300
 Over $1,616,450                       $109,024 plus 8.82% of excess over
                                       $1,616,450
   2. FOR TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN  COMMUTER  TRANS-
 PORTATION  DISTRICT  CREATED  AND  ESTABLISHED  PURSUANT  TO THE SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 IF THE NEW YORK TAXABLE INCOME IS:    THE TAX IS:
 NOT OVER $12,800                      4% OF THE NEW YORK TAXABLE INCOME
 OVER $12,800 BUT NOT OVER $17,650     $512 PLUS 4.5% OF EXCESS OVER $12,800
 OVER $17,650 BUT NOT OVER $20,900     $730 PLUS 5.25% OF EXCESS OVER
                                       $17,650
 OVER $20,900 BUT NOT OVER $32,200     $901 PLUS 5.9% OF EXCESS OVER $20,900
 OVER $32,200 BUT NOT OVER $107,650    $1,568 PLUS 6.21% OF EXCESS OVER
                                       $32,200
 OVER $107,650 BUT NOT OVER $269,300   $6,253 PLUS 6.49% OF EXCESS OVER
                                       $107,650
 OVER $269,300 BUT NOT OVER            $16,744 PLUS 6.85% OF EXCESS OVER
 $1,605,650                            $269,300
 OVER $1,605,650 BUT NOT OVER          $108,284 PLUS 8.98% OF EXCESS OVER

 A. 8956                             6
 
 $5,500,000                            $1,605,650
 OVER $5,500,000 BUT NOT OVER          $457,997 PLUS 9.08% OF EXCESS OVER
 $10,500,000                           $5,500,000
 OVER $10,500,000                      $911,997 PLUS 9.28% OF EXCESS OVER
                                       $10,500,000
   (iii) For taxable years beginning in two thousand twenty the following
 rates shall apply:
   1.  FOR  TAXPAYERS  WHO  RESIDE  OUTSIDE  OF THE METROPOLITAN COMMUTER
 TRANSPORTATION DISTRICT CREATED  AND  ESTABLISHED  PURSUANT  TO  SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 If the New York taxable income is:    The tax is:
 Not over $12,800                      4% of the New York taxable income
 Over $12,800 but not over $17,650     $512 plus 4.5% of excess over $12,800
 Over $17,650 but not over $20,900     $730 plus 5.25% of excess over
                                       $17,650
 Over $20,900 but not over $32,200     $901 plus 5.9% of excess over $20,900
 Over $32,200 but not over $107,650    $1,568 plus 6.09% of excess over
                                       $32,200
 Over $107,650 but not over $269,300   $6,162 plus 6.41% of excess over
                                       $107,650
 Over $269,300                         $16,524 plus 6.85% of excess over
                                       $269,300
   2.  FOR  TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN COMMUTER TRANS-
 PORTATION DISTRICT CREATED AND ESTABLISHED PURSUANT  TO  SECTION  TWELVE
 HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 IF THE NEW YORK TAXABLE INCOME IS:    THE TAX IS:
 NOT OVER $12,800                      4% OF THE NEW YORK TAXABLE INCOME
 OVER $12,800 BUT NOT OVER $17,650     $512 PLUS 4.5% OF EXCESS OVER $12,800
 OVER $17,650 BUT NOT OVER $20,900     $730 PLUS 5.25% OF EXCESS OVER
                                       $17,650
 OVER $20,900 BUT NOT OVER $32,200     $901 PLUS 5.9% OF EXCESS OVER $20,900
 OVER $32,200 BUT NOT OVER $107,650    $1,568 PLUS 6.09% OF EXCESS OVER
                                       $32,200
 OVER $107,650 BUT NOT OVER $269,300   $6,162 PLUS 6.41% OF EXCESS OVER
                                       $107,650
 OVER $269,300 BUT NOT OVER            $16,524 PLUS 6.85% OF EXCESS OVER
 $1,605,650                            $269,300
 OVER $1,605,650 BUT NOT OVER          $108,064 PLUS 8.98% OF EXCESS
 $5,500,000                            OVER $1,605,650
 OVER $5,500,000 BUT NOT OVER          $457,777 PLUS 9.08% OF EXCESS
 $10,500,000                           OVER $5,500,000
 OVER $10,500,000                      $911,777 PLUS 9.28% OF EXCESS
                                       OVER $10,500,000
   § 5. Clauses (i), (ii) and (iii) of subparagraph (B) of paragraph 1 of
 subsection  (c)  of section 601 of the tax law, as added by section 3 of
 part R of chapter 59 of the  laws  of  2017,  are  amended  to  read  as
 follows:
   (i) For taxable years beginning in two thousand eighteen the following
 rates shall apply:
   1.  FOR  TAXPAYERS  WHO  RESIDE  OUTSIDE  OF THE METROPOLITAN COMMUTER
 TRANSPORTATION DISTRICT CREATED  AND  ESTABLISHED  PURSUANT  TO  SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 If the New York taxable income is:    The tax is:
 Not over $8,500                       4% of the New York taxable income
 Over $8,500 but not over $11,700      $340 plus 4.5% of excess over

 A. 8956                             7
 
                                       $8,500
 Over $11,700 but not over $13,900     $484 plus 5.25% of excess over
                                       $11,700
 Over $13,900 but not over $21,400     $600 plus 5.9% of excess over
                                       $13,900
 Over $21,400 but not over $80,650     $1,042 plus 6.33% of excess over
                                       $21,400
 Over $80,650 but not over $215,400    $4,793 plus 6.57% of excess over
                                       $80,650
 Over $215,400 but not over $1,077,550 $13,646 plus 6.85% of excess over
                                       $215,400
 Over $1,077,550                       $72,703 plus 8.82% of excess over
                                       $1,077,550
   2.  FOR  TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN COMMUTER TRANS-
 PORTATION DISTRICT CREATED AND ESTABLISHED PURSUANT  TO  SECTION  TWELVE
 HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 IF THE NEW YORK TAXABLE INCOME IS:    THE TAX IS:
 NOT OVER $8,500                       4% OF THE NEW YORK TAXABLE INCOME
 OVER $8,500 BUT NOT OVER $11,700      $340 PLUS 4.5% OF EXCESS OVER
                                       $8,500
 OVER $11,700 BUT NOT OVER $13,900     $484 PLUS 5.25% OF EXCESS OVER
                                       $11,700
 OVER $13,900 BUT NOT OVER $21,400     $600 PLUS 5.9% OF EXCESS OVER
                                       $13,900
 OVER $21,400 BUT NOT OVER $80,650     $1,042 PLUS 6.33% OF EXCESS OVER
                                       $21,400
 OVER $80,650 BUT NOT OVER $215,400    $4,793 PLUS 6.57% OF EXCESS OVER
                                       $80,650
 OVER $215,400 BUT NOT OVER            $13,646 PLUS 6.85% OF EXCESS OVER
 $1,070,350                            $215,400
 OVER $1,070,350 BUT NOT OVER          $72,210 PLUS 8.98% OF EXCESS OVER
 $5,000,000                            $1,070,350
 OVER $5,000,000 BUT NOT OVER          $425,093 PLUS 9.08% OF EXCESS OVER
 $10,000,000                           $5,000,000
 OVER $10,000,000                      $879,093 PLUS 9.28% OF EXCESS OVER
                                       $10,000,000
   (ii)  For taxable years beginning in two thousand nineteen the follow-
 ing rates shall apply:
   1. FOR TAXPAYERS WHO  RESIDE  OUTSIDE  OF  THE  METROPOLITAN  COMMUTER
 TRANSPORTATION  DISTRICT  CREATED  AND  ESTABLISHED  PURSUANT TO SECTION
 TWELVE HUNDRED SIXTY TWO OF THE PUBLIC AUTHORITIES LAW:
 If the New York taxable income is:    The tax is:
 Not over $8,500                       4% of the New York taxable income
 Over $8,500 but not over $11,700      $340 plus 4.5% of excess over
                                       $8,500
 Over $11,700 but not over $13,900     $484 plus 5.25% of excess over
                                       $11,700
 Over $13,900 but not over $21,400     $600 plus 5.9% of excess over
                                       $13,900
 Over $21,400 but not over $80,650     $1,042 plus 6.21% of excess over
                                       $21,400
 Over $80,650 but not over $215,400    $4,721 plus 6.49% of excess over
                                       $80,650
 Over $215,400 but not over            $13,467 plus 6.85% of excess over
 $1,077,550                            $215,400
 Over $1,077,550                       $72,524 plus 8.82% of excess over

 A. 8956                             8
 
                                       $1,077,550
   2.  FOR  TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN COMMUTER TRANS-
 PORTATION DISTRICT CREATED AND ESTABLISHED PURSUANT  TO  SECTION  TWELVE
 HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 IF THE NEW YORK TAXABLE INCOME IS:    THE TAX IS:
 NOT OVER $8,500                       4% OF THE NEW YORK TAXABLE INCOME
 OVER $8,500 BUT NOT OVER $11,700      $340 PLUS 4.5% OF EXCESS OVER
                                       $8,500
 OVER $11,700 BUT NOT OVER $13,900     $484 PLUS 5.25% OF EXCESS OVER
                                       $11,700
 OVER $13,900 BUT NOT OVER $21,400     $600 PLUS 5.9% OF EXCESS OVER
                                       $13,900
 OVER $21,400 BUT NOT OVER $80,650     $1,042 PLUS 6.21% OF EXCESS OVER
                                       $21,400
 OVER $80,650 BUT NOT OVER $215,400    $4,721 PLUS 6.49% OF EXCESS OVER
                                       $80,650
 OVER $215,400 BUT NOT OVER            $13,467 PLUS 6.85% OF EXCESS OVER
 $1,070,350                            $215,400
 OVER $1,070,350 BUT NOT OVER          $72,031 PLUS 8.98% OF EXCESS OVER
 5,000,000                             $1,070,350
 OVER $5,000,000 BUT NOT OVER          $424,914 PLUS 9.08% OF EXCESS OVER
 $10,000,000                           $5,000,000
 OVER $10,000,000                      $878,914 PLUS 9.28% OF EXCESS OVER
                                       $10,000,000
   (iii) For taxable years beginning in two thousand twenty the following
 rates shall apply:
   1.  FOR  TAXPAYERS  WHO  RESIDE  OUTSIDE  OF THE METROPOLITAN COMMUTER
 TRANSPORTATION DISTRICT CREATED  AND  ESTABLISHED  PURSUANT  TO  SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 If the New York taxable income is:    The tax is:
 Not over $8,500                       4% of the New York taxable income
 Over $8,500 but not over $11,700      $340 plus 4.5% of excess over
                                       $8,500
 Over $11,700 but not over $13,900     $484 plus 5.25% of excess over
                                       $11,700
 Over $13,900 but not over $21,400     $600 plus 5.9% of excess over
                                       $13,900
 Over $21,400 but not over $80,650     $1,042 plus 6.09% of excess over
                                       $21,400
 Over $80,650 but not over $215,400    $4,650 plus 6.41% of excess over
                                       $80,650
 Over $215,400                         $13,288 plus 6.85% of excess over
                                       $215,400
   2.  FOR  TAXPAYERS WHO RESIDED WITHIN THE METROPOLITAN COMMUTER TRANS-
 PORTATION DISTRICT CREATED  AND  ESTABLISHED  PURSUANT  TO  THE  SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW:
 IF THE NEW YORK TAXABLE INCOME IS:    THE TAX IS:
 NOT OVER $8,500                       4% OF THE NEW YORK TAXABLE INCOME
 OVER $8,500 BUT NOT OVER $11,700      $340 PLUS 4.5% OF EXCESS OVER
                                       $8,500
 OVER $11,700 BUT NOT OVER $13,900     $484 PLUS 5.25% OF EXCESS OVER
                                       $11,700
 OVER $13,900 BUT NOT OVER $21,400     $600 PLUS 5.9% OF EXCESS OVER
                                       $13,900
 OVER $21,400 BUT NOT OVER $80,650     $1,042 PLUS 6.09% OF EXCESS OVER

 A. 8956                             9

                                       $21,400
 OVER $80,650 BUT NOT OVER $215,400    $4,650 PLUS 6.41% OF EXCESS OVER
                                       $80,650
 OVER $215,400 BUT NOT OVER            $13,288 PLUS 6.85% OF EXCESS OVER
 $1,070,350                            $215,400
 OVER $1,070,350 BUT NOT OVER          $71,852 PLUS 8.98% OF EXCESS OVER
 $5,000,000                            $1,070,350
 OVER $5,000,000 BUT NOT OVER          $424,735 PLUS 9.08% OF EXCESS OVER
 $10,000,000                           $5,000,000
 OVER $10,000,000                      $878,735 PLUS 9.28% OF EXCESS OVER
                                       $10,000,000
   §  6. Section 601 of the tax law is amended by adding a new subsection
 (d-2) to read as follows:
   (D-2) ALTERNATIVE TAX TABLE BENEFIT RECAPTURE IN METROPOLITAN COMMUTER
 TRANSPORTATION DISTRICT.  FOR TAXABLE YEARS BEGINNING ON OR AFTER  JANU-
 ARY  FIRST, TWO THOUSAND EIGHTEEN AND BEFORE JANUARY FIRST, TWO THOUSAND
 TWENTY-ONE FOR A TAXPAYER RESIDING IN THE METROPOLITAN  COMMUTER  TRANS-
 PORTATION  DISTRICT  CREATED  AND ESTABLISHED PURSUANT TO SECTION TWELVE
 HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW WHOSE NEW  YORK  TAXABLE
 INCOME  IS  OVER  $2,000,000  IF THE TAXPAYER IS MARRIED FILING JOINTLY,
 OVER $1,605,650 IF  THE  TAXPAYER  IS  A  HEAD  OF  HOUSEHOLD,  OR  OVER
 $1,070,350  IF  THE  TAXPAYER  FILES  SINGLY,  THERE IS HEREBY IMPOSED A
 SUPPLEMENTAL TAX IN ADDITION TO THE TAX IMPOSED UNDER  SUBSECTIONS  (A),
 (B)  AND  (C) OF THIS SECTION FOR THE PURPOSE OF RECAPTURING THE BENEFIT
 OF THE TAX TABLES CONTAINED IN SUCH SUBSECTIONS.  DURING  THESE  TAXABLE
 YEARS,  ANY  REFERENCE IN THIS CHAPTER TO SUBSECTION (D) OF THIS SECTION
 SHALL BE READ AS A REFERENCE TO THIS SUBSECTION.
   (1) FOR SUCH RESIDENT MARRIED INDIVIDUALS  FILING  JOINT  RETURNS  AND
 RESIDENT  SURVIVING  SPOUSES,  THE  SUPPLEMENTAL  TAX SHALL BE AN AMOUNT
 EQUAL TO THE SUM OF THE TAX TABLE BENEFITS  DESCRIBED  IN  SUBPARAGRAPHS
 (A),  (B) AND (C) OF THIS PARAGRAPH MULTIPLIED BY THEIR RESPECTIVE FRAC-
 TIONS IN SUCH SUBPARAGRAPHS.
   (A) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE  INCOME  SET  FORTH  IN THE TAX TABLE IN ITEM TWO OF CLAUSE (I),
 (II) OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (A)  OF
 THIS SECTION NOT SUBJECT TO THE 8.98 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR  MULTIPLIED  BY  SUCH  RATE AND (II) THE DOLLAR DENOMINATED TAX FOR
 SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE  TO
 THE  TAXABLE  YEAR  IN ITEM ONE OF CLAUSE (I), (II) OR (III) OF SUBPARA-
 GRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (A) OF THIS  SECTION  LESS  THE
 SUM OF TAX TABLE BENEFITS IN SUBPARAGRAPHS (A), (B) AND (C) OF PARAGRAPH
 ONE OF SUBSECTION (D-1) OF THIS SECTION.  THE FRACTION FOR THIS SUBPARA-
 GRAPH IS COMPUTED AS FOLLOWS: THE NUMERATOR IS THE LESSER OF FIFTY THOU-
 SAND  DOLLARS  OR  THE  EXCESS OF NEW YORK ADJUSTED GROSS INCOME FOR THE
 TAXABLE YEAR OVER TWO MILLION DOLLARS AND THE DENOMINATOR IS FIFTY THOU-
 SAND DOLLARS.
   (B) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE  INCOME  SET  FORTH  IN THE TAX TABLE IN ITEM TWO OF CLAUSE (I),
 (II) OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (A)  OF
 THIS SECTION NOT SUBJECT TO THE 9.08 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR  MULTIPLIED  BY  SUCH  RATE AND (II) THE DOLLAR DENOMINATED TAX FOR
 SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE  TO
 THE  TAXABLE  YEAR  IN ITEM ONE OF CLAUSE (I), (II) OR (III) OF SUBPARA-
 GRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (A) OF THIS  SECTION  LESS  THE
 SUM OF THE TAX TABLE BENEFITS IN SUBPARAGRAPHS (A), (B) AND (C) OF PARA-
 GRAPH ONE OF SUBSECTION (D-1) OF THIS SECTION AND SUCH TAX TABLE BENEFIT

 A. 8956                            10
 
 IN  SUBPARAGRAPH  (A)  OF THIS PARAGRAPH. THE FRACTION FOR THIS SUBPARA-
 GRAPH IS COMPUTED AS FOLLOWS: THE NUMERATOR IS THE LESSER OF FIFTY THOU-
 SAND DOLLARS OR THE EXCESS OF NEW YORK ADJUSTED  GROSS  INCOME  FOR  THE
 TAXABLE YEAR OVER SIX MILLION DOLLARS AND THE DENOMINATOR IS FIFTY THOU-
 SAND  DOLLARS.  PROVIDED,  HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY TO
 TAXPAYERS WHO ARE NOT SUBJECT TO THE 9.08 PERCENT TAX RATE.
   (C) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE  INCOME  SET  FORTH  IN THE TAX TABLE IN ITEM TWO OF CLAUSE (I),
 (II) OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (A)  OF
 THIS SECTION NOT SUBJECT TO THE 9.28 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR  MULTIPLIED  BY  SUCH  RATE AND (II) THE DOLLAR DENOMINATED TAX FOR
 SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE  TO
 THE  TAXABLE  YEAR IN ITEM ONE OF CLAUSE (I), (II) OR (III) OF PARAGRAPH
 (B) OF PARAGRAPH ONE OF SUBSECTION (A) OF THIS SECTION LESS THE  SUM  OF
 THE  TAX  TABLE  BENEFITS IN SUBPARAGRAPHS (A), (B) AND (C) OF PARAGRAPH
 ONE OF SUBSECTION (D-1) OF THIS SECTION AND SUCH TAX TABLE  BENEFITS  IN
 SUBPARAGRAPHS  (A)  AND  (B)  OF  THIS  PARAGRAPH. THE FRACTION FOR THIS
 SUBPARAGRAPH IS COMPUTED AS FOLLOWS: THE  NUMERATOR  IS  THE  LESSER  OF
 FIFTY  THOUSAND  DOLLARS OR THE EXCESS OF NEW YORK ADJUSTED GROSS INCOME
 FOR THE TAXABLE YEAR OVER ELEVEN MILLION DOLLARS AND THE DENOMINATOR  IS
 FIFTY  THOUSAND DOLLARS.  PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT
 APPLY TO TAXPAYERS WHO ARE NOT SUBJECT TO THE 9.28 PERCENT TAX RATE.
   (D) PROVIDED, HOWEVER, THE TOTAL TAX PRIOR TO THE APPLICATION  OF  ANY
 TAX  CREDITS  SHALL  NOT EXCEED THE HIGHEST RATE OF TAX SET FORTH IN THE
 TAX TABLES IN SUBSECTION (A) OF THIS SECTION MULTIPLIED BY  THE  TAXPAY-
 ER'S TAXABLE INCOME.
   (2)  FOR SUCH RESIDENT HEADS OF HOUSEHOLDS, THE SUPPLEMENTAL TAX SHALL
 BE AN AMOUNT EQUAL TO THE SUM OF THE TAX  TABLE  BENEFITS  DESCRIBED  IN
 SUBPARAGRAPHS  (A),  (B)  AND  (C) OF THIS PARAGRAPH MULTIPLIED BY THEIR
 RESPECTIVE FRACTIONS IN SUCH SUBPARAGRAPHS.
   (A) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE  INCOME  SET  FORTH  IN THE TAX TABLE IN ITEM TWO OF CLAUSE (I),
 (II) OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (B)  OF
 THIS SECTION NOT SUBJECT TO THE 8.98 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR  MULTIPLIED  BY  SUCH  RATE AND (II) THE DOLLAR DENOMINATED TAX FOR
 SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE  TO
 THE  TAXABLE  YEAR  IN ITEM ONE OF CLAUSE (I), (II) OR (III) OF SUBPARA-
 GRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (B) OF THIS  SECTION  LESS  THE
 SUM  OF THE TAX TABLE BENEFITS IN SUBPARAGRAPHS (A) AND (B) OF PARAGRAPH
 TWO OF SUBSECTION (D-1) OF THIS SECTION.  THE FRACTION FOR THIS SUBPARA-
 GRAPH IS COMPUTED AS FOLLOWS: THE NUMERATOR IS THE LESSER OF FIFTY THOU-
 SAND DOLLARS OR THE EXCESS OF NEW YORK ADJUSTED  GROSS  INCOME  FOR  THE
 TAXABLE  YEAR  OVER  ONE  MILLION  SIX HUNDRED FIVE THOUSAND SIX HUNDRED
 FIFTY DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
   (B) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE  INCOME  SET  FORTH  IN THE TAX TABLE IN ITEM TWO OF CLAUSE (I),
 (II) OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (B)  OF
 THIS SECTION NOT SUBJECT TO THE 9.08 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR  MULTIPLIED  BY  SUCH  RATE AND (II) THE DOLLAR DENOMINATED TAX FOR
 SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE  TO
 THE  TAXABLE  YEAR  IN ITEM ONE OF CLAUSE (I), (II) OR (III) OF SUBPARA-
 GRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (B) OF THIS  SECTION  LESS  THE
 SUM  OF THE TAX TABLE BENEFITS IN SUBPARAGRAPHS (A) AND (B) OF PARAGRAPH
 TWO OF SUBSECTION (D-1) OF THIS SECTION AND SUCH TAX  TABLE  BENEFIT  IN
 SUBPARAGRAPH  (A)  OF THIS PARAGRAPH. THE FRACTION FOR THIS SUBPARAGRAPH
 IS COMPUTED AS FOLLOWS: THE NUMERATOR IS THE LESSER  OF  FIFTY  THOUSAND

 A. 8956                            11

 DOLLARS  OR THE EXCESS OF NEW YORK ADJUSTED GROSS INCOME FOR THE TAXABLE
 YEAR OVER FIVE MILLION FIVE HUNDRED THOUSAND DOLLARS AND THE DENOMINATOR
 IS FIFTY THOUSAND DOLLARS. PROVIDED, HOWEVER,  THIS  SUBPARAGRAPH  SHALL
 NOT APPLY TO TAXPAYERS WHO ARE NOT SUBJECT TO THE 9.08 PERCENT TAX RATE.
   (C)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN ITEM  TWO  OF  CLAUSE  (I),
 (II)  OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (B) OF
 THIS SECTION NOT SUBJECT TO THE 9.28 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR MULTIPLIED BY SUCH RATE AND (II) THE  DOLLAR  DENOMINATED  TAX  FOR
 SUCH  AMOUNT  OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE TO
 THE TAXABLE YEAR IN ITEM ONE OF CLAUSE (I), (II) OR  (III)  OF  SUBPARA-
 GRAPH  (B)  OF  PARAGRAPH ONE OF SUBSECTION (B) OF THIS SECTION LESS THE
 SUM OF THE TAX TABLE BENEFITS IN SUBPARAGRAPHS (A) AND (B) OF  PARAGRAPH
 TWO  OF  SUBSECTION (D-1) OF THIS SECTION AND SUCH TAX TABLE BENEFITS IN
 SUBPARAGRAPHS (A) AND (B) OF  THIS  PARAGRAPH.  THE  FRACTION  FOR  THIS
 SUBPARAGRAPH  IS  COMPUTED  AS  FOLLOWS:  THE NUMERATOR IS THE LESSER OF
 FIFTY THOUSAND DOLLARS OR THE EXCESS OF NEW YORK ADJUSTED  GROSS  INCOME
 FOR  THE TAXABLE YEAR OVER TEN MILLION FIVE HUNDRED THOUSAND DOLLARS AND
 THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
   (D) PROVIDED, HOWEVER, THE TOTAL TAX PRIOR TO THE APPLICATION  OF  ANY
 TAX  CREDITS  SHALL  NOT EXCEED THE HIGHEST RATE OF TAX SET FORTH IN THE
 TAX TABLES IN SUBSECTION (B) OF THIS SECTION MULTIPLIED BY  THE  TAXPAY-
 ER'S TAXABLE INCOME.
   (3) FOR SUCH RESIDENT UNMARRIED INDIVIDUALS, RESIDENT MARRIED INDIVID-
 UALS  FILING  SEPARATE  RETURNS  AND  RESIDENT  ESTATES  AND TRUSTS, THE
 SUPPLEMENTAL TAX SHALL BE AN AMOUNT EQUAL TO THE SUM OF  THE  TAX  TABLE
 BENEFITS  DESCRIBED  IN SUBPARAGRAPHS (A), (B) AND (C) OF THIS PARAGRAPH
 MULTIPLIED BY THEIR RESPECTIVE FRACTIONS IN SUCH SUBPARAGRAPHS.
   (A) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE  INCOME  SET  FORTH  IN THE TAX TABLE IN ITEM TWO OF CLAUSE (I),
 (II) OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (C)  OF
 THIS SECTION NOT SUBJECT TO THE 8.98 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR  MULTIPLIED  BY  SUCH  RATE AND (II) THE DOLLAR DENOMINATED TAX FOR
 SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE  TO
 THE  TAXABLE  YEAR  IN ITEM ONE OF CLAUSE (I), (II) OR (III) OF SUBPARA-
 GRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (C) OF THIS  SECTION  LESS  THE
 SUM  OF  TAX  TABLE  BENEFITS  IN SUBPARAGRAPHS (A) AND (B) OF PARAGRAPH
 THREE OF SUBSECTION (D-1) OF  THIS  SECTION.    THE  FRACTION  FOR  THIS
 SUBPARAGRAPH  IS  COMPUTED  AS  FOLLOWS:  THE NUMERATOR IS THE LESSER OF
 FIFTY THOUSAND DOLLARS OR THE EXCESS OF NEW YORK ADJUSTED  GROSS  INCOME
 FOR  THE  TAXABLE  YEAR  OVER ONE MILLION SEVENTY THOUSAND THREE HUNDRED
 FIFTY DOLLARS AND THE DENOMINATOR IS FIFTY THOUSAND DOLLARS.
   (B) THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT  OF
 TAXABLE  INCOME  SET  FORTH  IN THE TAX TABLE IN ITEM TWO OF CLAUSE (I),
 (II) OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (C)  OF
 THIS SECTION NOT SUBJECT TO THE 9.08 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR  MULTIPLIED  BY  SUCH  RATE AND (II) THE DOLLAR DENOMINATED TAX FOR
 SUCH AMOUNT OF TAXABLE INCOME SET FORTH IN THE TAX TABLE  APPLICABLE  TO
 THE  TAXABLE  YEAR  IN ITEM ONE OF CLAUSE (I), (II) OR (III) OF SUBPARA-
 GRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (C) OF THIS  SECTION  LESS  THE
 SUM  OF THE TAX TABLE BENEFITS IN SUBPARAGRAPHS (A) AND (B) OF PARAGRAPH
 THREE OF SUBSECTION (D-1) OF THIS SECTION AND SUCH TAX TABLE BENEFIT  IN
 SUBPARAGRAPH  (A)  OF THIS PARAGRAPH. THE FRACTION FOR THIS SUBPARAGRAPH
 IS COMPUTED AS FOLLOWS: THE NUMERATOR IS THE LESSER  OF  FIFTY  THOUSAND
 DOLLARS  OR THE EXCESS OF NEW YORK ADJUSTED GROSS INCOME FOR THE TAXABLE
 YEAR OVER FIVE MILLION DOLLARS AND THE  DENOMINATOR  IS  FIFTY  THOUSAND

 A. 8956                            12
 
 DOLLARS. PROVIDED, HOWEVER, THIS SUBPARAGRAPH SHALL NOT APPLY TO TAXPAY-
 ERS WHO ARE NOT SUBJECT TO THE 9.08 PERCENT TAX RATE.
   (C)  THE TAX TABLE BENEFIT IS THE DIFFERENCE BETWEEN (I) THE AMOUNT OF
 TAXABLE INCOME SET FORTH IN THE TAX TABLE IN ITEM  TWO  OF  CLAUSE  (I),
 (II)  OR (III) OF SUBPARAGRAPH (B) OF PARAGRAPH ONE OF SUBSECTION (C) OF
 THIS SECTION NOT SUBJECT TO THE 9.28 PERCENT RATE OF TAX FOR THE TAXABLE
 YEAR MULTIPLIED BY SUCH RATE AND (II) THE  DOLLAR  DENOMINATED  TAX  FOR
 SUCH  AMOUNT  OF TAXABLE INCOME SET FORTH IN THE TAX TABLE APPLICABLE TO
 THE TAXABLE YEAR IN ITEM ONE OF CLAUSE (I), (II) OR  (III)  OF  SUBPARA-
 GRAPH  (B)  OF  PARAGRAPH ONE OF SUBSECTION (C) OF THIS SECTION LESS THE
 SUM OF THE TAX TABLE BENEFITS IN SUBPARAGRAPHS (A) AND (B) OF  PARAGRAPH
 THREE OF SUBSECTION (D-1) OF THIS SECTION AND SUCH TAX TABLE BENEFITS IN
 SUBPARAGRAPHS  (A)  AND  (B)  OF  THIS  PARAGRAPH. THE FRACTION FOR THIS
 SUBPARAGRAPH IS COMPUTED AS FOLLOWS: THE  NUMERATOR  IS  THE  LESSER  OF
 FIFTY  THOUSAND  DOLLARS OR THE EXCESS OF NEW YORK ADJUSTED GROSS INCOME
 FOR THE TAXABLE YEAR OVER TEN MILLION DOLLARS  AND  THE  DENOMINATOR  IS
 FIFTY THOUSAND DOLLARS.
   (D)  PROVIDED,  HOWEVER, THE TOTAL TAX PRIOR TO THE APPLICATION OF ANY
 TAX CREDITS SHALL NOT EXCEED THE HIGHEST RATE OF TAX SET  FORTH  IN  THE
 TAX  TABLES  IN SUBSECTION (C) OF THIS SECTION MULTIPLIED BY THE TAXPAY-
 ER'S TAXABLE INCOME.
   § 7.  Notwithstanding any provision of law to  the  contrary,  and  in
 accordance  with  section 4 of the state finance law, the comptroller is
 hereby authorized and directed to transfer on April 1,  2018,  April  1,
 2019  and April 1, 2020, $2,072,000,000 from the general fund to the MTA
 financial assistance fund, mobility tax trust account.
   § 8. This act shall take effect immediately;  provided  that  sections
 one,  two,  and  seven  of  this act shall expire and be deemed repealed
 January 1, 2021.

2017-A8956A (ACTIVE) - Details

See Senate Version of this Bill:: S6830
Current Committee:: Assembly Corporations, Authorities And Commissions
Law Section:: Public Authorities Law
Laws Affected:: Amd §§1205 & 2799-hh, add §1270-i, Pub Auth L; add §1304-E, amd §§1310 & 1313, Tax L; add §11-1704.2, amd §11-1706, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:: 2019-2020: A2743, S3246
2021-2022: A4434, S1194
2023-2024: A4474, S602
2025-2026: S3623

2017-A8956A (ACTIVE) - Summary

Authorizes the city of New York to impose a personal income surcharge on high income residents to fund transit improvements and reduced fares for low income residents.

2017-A8956A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8956--A
 
                           I N  A S S E M B L Y
 
                              January 9, 2018
                                ___________
 
 Introduced  by  M.  of  A.  O'DONNELL  --  read once and referred to the
   Committee on Corporations, Authorities and  Commissions  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the public authorities law, the tax law and the adminis-
   trative  code  of the city of New York, in relation to authorizing and
   imposing a tax surcharge on the personal income of certain high-income
   residents of  such  city  in  order  to  fund  transit  infrastructure
   improvements and reduced fares for low-income residents of such city
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1205 of the public authorities law  is  amended  by
 adding a new subdivision 9 to read as follows:
   9.  NOTWITHSTANDING  ANY OTHER PROVISION OF LAW, THE AUTHORITY AND ANY
 OF ITS SUBSIDIARY CORPORATIONS SHALL ESTABLISH AND IMPLEMENT A HALF-FARE
 RATE PROGRAM FOR LOW-INCOME RESIDENTS OF THE CITY WHO ARE EIGHTEEN YEARS
 OF AGE OR OLDER AND YOUNGER THAN SIXTY-FIVE YEARS OF AGE.  FOR  PURPOSES
 OF  THIS  SUBDIVISION, THE TERM "LOW-INCOME" SHALL MEAN AN ANNUAL INCOME
 THAT IS BELOW THE FEDERAL POVERTY  LINE  AS  DETERMINED  BY  THE  UNITED
 STATES DEPARTMENT OF HEALTH AND HUMAN SERVICES PURSUANT TO SUBDIVISION 2
 OF  SECTION  9902  OF TITLE 42 OF THE UNITED STATES CODE.  THE HALF-FARE
 RATE PROGRAM ESTABLISHED AND IMPLEMENTED PURSUANT  TO  THIS  SUBDIVISION
 SHALL  INCLUDE  SUBWAY AND BUS SERVICE, EXCLUSIVE OF EXPRESS BUS SERVICE
 DURING PEAK HOURS. SUCH HALF-RATE PROGRAM SHALL NOT BE MADE AVAILABLE TO
 SUCH LOW-INCOME RESIDENTS OF THE CITY EIGHTEEN YEARS OF AGE OR OLDER AND
 YOUNGER THAN SIXTY-FIVE YEARS OF AGE WHO ARE ELIGIBLE FOR THE  HALF-FARE
 RATE PROGRAMS AVAILABLE TO SENIORS AND PEOPLE WITH DISABILITIES PURSUANT
 TO SUBDIVISION TWO OR EIGHT OF THIS SECTION. UPON THE WRITTEN REQUEST OF
 THE  MAYOR  AND  IN  ACCORDANCE  WITH SUCH REQUEST, THE AUTHORITY OR ITS
 SUBSIDIARY CORPORATIONS SHALL DELEGATE AUTHORITY TO THE CITY  TO  ASSIST
 WITH  THE  ADMINISTRATION  OF SUCH HALF-FARE RATE PROGRAM, INCLUDING THE
 ELIGIBILITY OF APPLICANTS.
   § 2. The public authorities law is amended by  adding  a  new  section
 1270-i to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD13277-11-8

 A. 8956--A                          2
 
   §  1270-I. NEW YORK CITY DEDICATED PERSONAL INCOME TAX SURCHARGE FUND.
 1. THE AUTHORITY SHALL ESTABLISH A FUND TO BE KNOWN  AS  THE  "NEW  YORK
 CITY  DEDICATED  PERSONAL INCOME TAX SURCHARGE FUND" WHICH SHALL BE KEPT
 SEPARATE FROM AND SHALL NOT BE COMMINGLED WITH ANY OTHER MONEYS  OF  THE
 AUTHORITY.  THE FUND SHALL CONSIST OF A "TRANSIT INFRASTRUCTURE IMPROVE-
 MENT ACCOUNT" AND A "LOW-INCOME RESIDENT REDUCED FARE ACCOUNT."
   2. THERE SHALL BE DEPOSITED INTO THE NEW YORK CITY DEDICATED  PERSONAL
 INCOME  TAX  SURCHARGE  FUND  THE MONEYS TRANSFERRED TO THE METROPOLITAN
 TRANSPORTATION AUTHORITY FROM THE NEW  YORK  CITY  TRANSITIONAL  FINANCE
 AUTHORITY  PURSUANT TO SUBSECTION (E) OF SECTION THIRTEEN HUNDRED FOUR-E
 OF THE TAX LAW, AND ANY OTHER PROVISION OF LAW DIRECTING  OR  PERMITTING
 THE  DEPOSIT  OF  MONEYS  IN  SUCH  FUND, TO BE USED EXCLUSIVELY FOR THE
 FINANCING OF TRANSIT INFRASTRUCTURE IMPROVEMENTS AND REDUCED  FARES  FOR
 LOW-INCOME RESIDENTS OF THE CITY OF NEW YORK.
   3.  MONEYS IN THE TRANSIT INFRASTRUCTURE IMPROVEMENT ACCOUNT (A) SHALL
 BE USED TO FUND CAPITAL PROJECTS THAT SATISFY  THE  FOLLOWING  CRITERIA:
 (I) DEFINED AS STATE OF GOOD REPAIR, NORMAL REPLACEMENT, OR AN AMERICANS
 WITH  DISABILITIES  ACT  RELATED  SYSTEM  IMPROVEMENT WITHIN THE CAPITAL
 PROGRAM OF THE AUTHORITY; AND (II) INCLUDED  IN  ANY  OF  THE  FOLLOWING
 CATEGORIES  WITHIN  THE  CAPITAL PROGRAM OF THE AUTHORITY: NEW YORK CITY
 TRANSIT AUTHORITY BUSES, SUBWAY CARS, TRACK, LINE EQUIPMENT, LINE STRUC-
 TURES, SIGNALS AND COMMUNICATIONS,  TRACTION  POWER,  SHOPS  AND  YARDS,
 DEPOTS,  SERVICE  VEHICLES,  PASSENGER  STATION  PROJECTS,  AS NEEDED TO
 COMPLY WITH THE AMERICANS WITH DISABILITIES ACT, STATEN  ISLAND  RAILWAY
 AND  AUTHORITY  BUS  COMPANY PROJECTS; AND (B) MAY BE (I) PLEDGED BY THE
 AUTHORITY AS SECURITY FOR THE PAYMENT OF PRINCIPAL AND INTEREST ON BONDS
 ISSUED AFTER JULY  FIRST,  TWO  THOUSAND  EIGHTEEN  TO  FINANCE  CAPITAL
 PROJECTS  THAT  MEET  THE  CRITERIA  IDENTIFIED IN PARAGRAPH (A) OF THIS
 SUBDIVISION, INCLUDING BONDS ISSUED TO REFUND SUCH BONDS AND  (II)  USED
 FOR PAYMENT OF PRINCIPAL AND INTEREST ON SUCH BONDS, FUNDING OF RESERVES
 REQUIRED  IN  CONNECTION  WITH  SUCH  BONDS, AND THE PAYMENT OF COSTS OF
 ISSUANCE RELATED TO SUCH BONDS. TO THE  EXTENT  MONEYS  IN  THE  TRANSIT
 INFRASTRUCTURE IMPROVEMENT ACCOUNT HAVE BEEN PLEDGED BY THE AUTHORITY TO
 SECURE  THE  PAYMENT  OF  PRINCIPAL  AND  INTEREST  ON  BONDS  AS HEREIN
 PROVIDED, MONEYS DEPOSITED INTO THE NEW  YORK  CITY  DEDICATED  PERSONAL
 INCOME  TAX  SURCHARGE  FUND  SHALL  FIRST BE DEPOSITED INTO THE TRANSIT
 INFRASTRUCTURE ACCOUNT TO THE EXTENT NECESSARY TO MAKE PAYMENTS PURSUANT
 TO PARAGRAPH (B) OF THIS SUBDIVISION. AFTER MAKING SUCH PAYMENTS, MONEYS
 DEPOSITED IN THE TRANSIT INFRASTRUCTURE  IMPROVEMENT  ACCOUNT  SHALL  BE
 USED TO FUND PROJECTS THAT MEET THE CRITERIA IDENTIFIED IN PARAGRAPH (A)
 OF THIS SUBDIVISION.
   4.  THE  STATE  DOES  HEREBY  PLEDGE AND AGREE WITH THE HOLDERS OF ANY
 ISSUE OF BONDS SECURED BY PLEDGE DESCRIBED IN PARAGRAPH (B) OF  SUBDIVI-
 SION  THREE  OF  THIS SECTION THAT THE STATE WILL NOT LIMIT OR ALTER THE
 RIGHTS HEREBY VESTED IN THE  METROPOLITAN  TRANSPORTATION  AUTHORITY  TO
 FULFILL  THE  TERMS  OF ANY AGREEMENTS MADE WITH BONDHOLDERS PURSUANT TO
 THIS TITLE, OR IN ANY WAY IMPAIR THE RIGHTS AND REMEDIES OF SUCH HOLDERS
 OR THE SECURITY FOR SUCH BONDS UNTIL  SUCH  BONDS  ARE  FULLY  PAID  AND
 DISCHARGED.  NOTHING  CONTAINED  IN  THIS  SECTION  SHALL  BE  DEEMED TO
 RESTRICT THE RIGHT OF THE STATE TO AMEND, MODIFY,  REPEAL  OR  OTHERWISE
 ALTER STATUTES IMPOSING OR RELATING TO THE TAXES PAYABLE TO THE NEW YORK
 CITY TRANSITIONAL FINANCE AUTHORITY PURSUANT TO SECTION THIRTEEN HUNDRED
 THIRTEEN  OF THE TAX LAW, BUT SUCH TAXES SHALL IN ALL EVENTS CONTINUE TO
 BE SO PAYABLE SO LONG AS ANY SUCH TAXES ARE  IMPOSED.  NOTHING  IN  THIS
 SECTION  SHALL  BE  DEEMED  TO OBLIGATE THE STATE TO MAKE ANY ADDITIONAL

 A. 8956--A                          3
 
 PAYMENTS OR IMPOSE ANY TAXES TO SATISFY THE DEBT SERVICE OBLIGATIONS  OF
 THE METROPOLITAN TRANSPORTATION AUTHORITY.
   5.  MONEYS  IN  THE  LOW-INCOME RESIDENT REDUCED FARE ACCOUNT SHALL BE
 USED TO FUND THE HALF-FARE RATE PROGRAM FOR LOW-INCOME RESIDENTS OF  THE
 CITY  OF NEW YORK PURSUANT TO SUBDIVISION NINE OF SECTION TWELVE HUNDRED
 FIVE OF THIS ARTICLE AND MAY BE USED FOR PAYMENT OF THE REASONABLE OPER-
 ATING COSTS INCURRED BY THE NEW YORK  CITY  TRANSIT  AUTHORITY  FOR  THE
 ADMINISTRATION OF THE HALF-FARE RATE PROGRAM, PROVIDED THAT NO MORE THAN
 ONE PERCENT OF THE MONEYS DEPOSITED INTO THE LOW-INCOME RESIDENT REDUCED
 FARE  ACCOUNT  PURSUANT TO SUBDIVISION SIX OF THIS SECTION SHALL BE USED
 FOR SUCH COSTS.
   6. THE MONEYS DEPOSITED INTO THE FUND FROM THE NEW YORK  CITY  TRANSI-
 TIONAL  FINANCE  AUTHORITY  SHALL BE EQUALLY DIVIDED BETWEEN THE TRANSIT
 INFRASTRUCTURE IMPROVEMENT ACCOUNT AND THE LOW-INCOME  RESIDENT  REDUCED
 FARE ACCOUNT.
   7.  TWICE  EACH CALENDAR YEAR, THE MAYOR OF THE CITY OF NEW YORK SHALL
 CONDUCT A REVIEW OF THE AMOUNT OF MONEYS DEPOSITED IN EACH  OF  THE  TWO
 ACCOUNTS. TO THE EXTENT SUCH REVIEW INDICATES THAT:
   A.  THE  MONEYS  IN THE TRANSIT INFRASTRUCTURE IMPROVEMENT ACCOUNT ARE
 SUFFICIENT TO SATISFY THE REQUIREMENTS OF ANY DEBT SERVICE  INCURRED  IN
 SUCH  CALENDAR YEAR AS A RESULT OF OBLIGATIONS ISSUED AND SECURED PURSU-
 ANT TO PARAGRAPH B OF SUBDIVISION THREE OF THIS SECTION, AND THE  MONEYS
 IN  THE  LOW-INCOME  RESIDENT  REDUCED  FARE ACCOUNT ARE INSUFFICIENT TO
 SATISFY THE TOTAL NEEDS OF THE LOW-INCOME RESIDENT REDUCED FARE  PROGRAM
 ESTABLISHED  PURSUANT TO SUBDIVISION NINE OF SECTION TWELVE HUNDRED FIVE
 OF THIS ARTICLE, THE MAYOR OF THE CITY OF  NEW  YORK,  OR  SUCH  MAYOR'S
 DESIGNEE, MAY DIRECT THE METROPOLITAN TRANSPORTATION AUTHORITY TO TRANS-
 FER  A  SPECIFIED  AMOUNT  OF  MONEYS  FROM  THE  TRANSIT INFRASTRUCTURE
 IMPROVEMENT ACCOUNT TO THE LOW-INCOME RESIDENT REDUCED FARE ACCOUNT; AND
   B. THE MONEYS IN THE LOW-INCOME  RESIDENT  REDUCED  FARE  ACCOUNT  ARE
 SUFFICIENT  TO  SATISFY THE NEEDS OF THE HALF-FARE RATE PROGRAM FOR LOW-
 INCOME RESIDENTS OF THE CITY OF NEW YORK ESTABLISHED PURSUANT TO  SUBDI-
 VISION  NINE  OF  SECTION  TWELVE  HUNDRED FIVE OF THIS ARTICLE, IN SUCH
 CALENDAR YEAR, THE MAYOR OF THE CITY OF NEW YORK, OR SUCH MAYOR'S DESIG-
 NEE, MAY DIRECT THE METROPOLITAN TRANSPORTATION AUTHORITY TO TRANSFER  A
 SPECIFIED  AMOUNT  OF  MONEYS  FROM THE LOW-INCOME RESIDENT REDUCED FARE
 ACCOUNT TO THE TRANSIT INFRASTRUCTURE IMPROVEMENT ACCOUNT.
   § 3. Subdivision 5 of section 2799-hh of the public  authorities  law,
 as  added  by  chapter  16  of  the  laws of 1997, is amended to read as
 follows:
   5. Tax revenues received by the authority pursuant to section thirteen
 hundred thirteen of the tax law, together with any alternative  revenues
 received  by  the  authority, shall be applied in the following order of
 priority: first pursuant to the authority's contracts with  bondholders,
 then  to  pay  the authority's operating expenses not otherwise provided
 for, THEN TO A DEDICATED PERSONAL INCOME TAX SURCHARGE FUND PURSUANT  TO
 SUBSECTION  (D) OF SECTION THIRTEEN HUNDRED FOUR-E OF THE TAX LAW IN THE
 AMOUNT PROVIDED FOR IN SUCH SECTION, and then pursuant to  the  authori-
 ty's  agreements  with  the  city,  which  agreements  shall require the
 authority to transfer the balance of such taxes  not  required  to  meet
 contractual  or  other  obligations  of  the  authority  to  the city as
 frequently as practicable.
   § 4. The tax law is amended by adding a new section 1304-E to read  as
 follows:
   §  1304-E.  TAX  SURCHARGE FOR TRANSIT INFRASTRUCTURE IMPROVEMENTS AND
 REDUCED FARES FOR LOW-INCOME RESIDENTS OF THE CITY OF NEW YORK.  (A)  IN

 A. 8956--A                          4
 
 ADDITION  TO  THE TAXES AUTHORIZED BY SUBSECTION (A) OF SECTION THIRTEEN
 HUNDRED ONE OF THIS ARTICLE, ANY CITY  IMPOSING  SUCH  TAXES  IS  HEREBY
 AUTHORIZED  AND  EMPOWERED TO ADOPT AND AMEND LOCAL LAWS IMPOSING IN ANY
 SUCH  CITY FOR EACH TAXABLE YEAR BEGINNING AFTER TWO THOUSAND SEVENTEEN,
 A TAX SURCHARGE ON THE CITY TAXABLE  INCOME  OF  CERTAIN  CITY  RESIDENT
 INDIVIDUALS, ESTATES AND TRUSTS.
   (B)  A TAX SURCHARGE IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION
 SHALL BE DETERMINED AS FOLLOWS:
   (1) RESIDENT MARRIED INDIVIDUALS FILING  JOINT  RETURNS  AND  RESIDENT
 SURVIVING  SPOUSES.  THE  TAX  SURCHARGE  UNDER THIS SECTION ON THE CITY
 TAXABLE INCOME OF CERTAIN CITY RESIDENT MARRIED INDIVIDUALS WHO  MAKE  A
 SINGLE  RETURN  JOINTLY  WITH  HIS OR HER SPOUSE UNDER SUBSECTION (B) OF
 SECTION THIRTEEN HUNDRED SIX OF THIS ARTICLE AND  ON  THE  CITY  TAXABLE
 INCOME OF CERTAIN CITY RESIDENT SURVIVING SPOUSES SHALL BE DETERMINED IN
 ACCORDANCE WITH THE FOLLOWING TABLE:
   FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND SEVENTEEN:
   IF THE CITY TAXABLE INCOME IS:        THE TAX SURCHARGE IS:
   OVER $1,000,000                       .534% OF EXCESS OVER $1,000,000
   (2) RESIDENT HEADS OF HOUSEHOLDS. THE TAX SURCHARGE UNDER THIS SECTION
 ON  THE CITY TAXABLE INCOME OF CERTAIN CITY RESIDENT HEADS OF HOUSEHOLDS
 SHALL BE DETERMINED IN ACCORDANCE WITH THE FOLLOWING TABLE:
   FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND SEVENTEEN:
   IF THE CITY TAXABLE INCOME IS:           THE TAX SURCHARGE IS:
   OVER $750,000                            .534% OF EXCESS OVER $750,000
   (3)  RESIDENT  UNMARRIED  INDIVIDUALS,  RESIDENT  MARRIED  INDIVIDUALS
 FILING  SEPARATE  RETURNS  AND  RESIDENT  ESTATES  AND  TRUSTS.  THE TAX
 SURCHARGE UNDER THIS SECTION ON THE CITY TAXABLE INCOME OF CERTAIN  CITY
 RESIDENT  INDIVIDUALS  WHO ARE NOT CITY RESIDENT MARRIED INDIVIDUALS WHO
 MAKE A SINGLE RETURN JOINTLY WITH HIS OR HER SPOUSE UNDER SUBSECTION (B)
 OF SECTION THIRTEEN HUNDRED SIX OF THIS ARTICLE OR CITY  RESIDENT  HEADS
 OF  HOUSEHOLDS OR CITY RESIDENT SURVIVING SPOUSES, AND ON THE CITY TAXA-
 BLE INCOME OF CERTAIN CITY RESIDENT ESTATES AND TRUSTS SHALL  BE  DETER-
 MINED IN ACCORDANCE WITH THE FOLLOWING TABLE:
   FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND SEVENTEEN:
   IF THE CITY TAXABLE INCOME IS:           THE TAX SURCHARGE IS:
   OVER $500,000                            .534% OF EXCESS OVER $500,000
   (C)  A TAX SURCHARGE IMPOSED PURSUANT TO THE AUTHORITY OF THIS SECTION
 SHALL BE ADMINISTERED AND COLLECTED IN THE  SAME  MANNER  AS  THE  TAXES
 IMPOSED  PURSUANT  TO  THE  AUTHORITY  OF  THIS  ARTICLE, AND ALL OF THE
 PROVISIONS OF THIS ARTICLE,  INCLUDING  SECTION  THIRTEEN  HUNDRED  TEN,
 SHALL  APPLY  TO  THE TAX SURCHARGE IMPOSED PURSUANT TO THE AUTHORITY OF
 THIS SECTION.
   (D) SUBJECT TO THE PRIORITY OF PAYMENTS IDENTIFIED IN SECTION  TWENTY-
 SEVEN HUNDRED NINETY-NINE-HH OF THE PUBLIC AUTHORITIES LAW, THE NEW YORK
 CITY  TRANSITIONAL  FINANCE AUTHORITY SHALL TRANSFER TO THE METROPOLITAN
 TRANSPORTATION AUTHORITY THE AMOUNT ESTIMATED BY THE MAYOR OF  THE  CITY
 OF  NEW YORK TO BE THE AMOUNT RECEIVED BY THE NEW YORK CITY TRANSITIONAL
 FINANCE AUTHORITY FROM THE TAX SURCHARGE IMPOSED PURSUANT TO THE AUTHOR-
 ITY OF THIS SECTION, UP TO THE TOTAL AMOUNT  AVAILABLE  AFTER  DEDUCTING
 FROM REVENUES RECEIVED BY THE NEW YORK CITY TRANSITIONAL FINANCE AUTHOR-
 ITY  PURSUANT  TO  THIS  SECTION  AND SUBSECTION (C) OF SECTION THIRTEEN
 HUNDRED THIRTEEN OF THIS ARTICLE AMOUNTS TO BE PAID PURSUANT TO THE  NEW
 YORK  CITY  TRANSITIONAL  FINANCE AUTHORITY'S CONTRACTS WITH BONDHOLDERS
 AND  THE  NEW  YORK  CITY  TRANSITIONAL  FINANCE  AUTHORITY'S  OPERATING
 EXPENSES  NOT OTHERWISE PROVIDED FOR. AFTER THE MAYOR OF THE CITY OF NEW
 YORK HAS RECEIVED DATA FROM THE DEPARTMENT ALLOWING SUCH MAYOR TO DETER-

 A. 8956--A                          5

 MINE THE ACTUAL AMOUNT OF REVENUES RECEIVED BY THE NEW YORK CITY TRANSI-
 TIONAL FINANCE AUTHORITY THAT ARE  ATTRIBUTABLE  TO  THE  TAX  SURCHARGE
 IMPOSED  PURSUANT  TO  THE  AUTHORITY  OF THIS SECTION, SUCH MAYOR SHALL
 INFORM  THE  NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY OF SUCH ACTUAL
 AMOUNT, MINUS ANY ACTUAL OPERATING COSTS ASSUMED BY THE CITY OF NEW YORK
 ATTRIBUTABLE TO THE HALF-FARE RATE PROGRAM PURSUANT TO SUBDIVISION  NINE
 OF  SECTION  TWELVE  HUNDRED FIVE OF THE PUBLIC AUTHORITIES LAW, AND THE
 NEW YORK CITY TRANSITIONAL  FINANCE  AUTHORITY  SHALL  ADJUST  THE  NEXT
 PAYMENT TO BE MADE TO THE METROPOLITAN TRANSPORTATION AUTHORITY PURSUANT
 TO  THIS  SECTION  TO  REFLECT ANY DIFFERENCE BETWEEN SUCH ACTUAL AMOUNT
 MINUS SUCH OPERATING COSTS AND THE ESTIMATE PREVIOUSLY PROVIDED BY  SUCH
 MAYOR.
   (E)  ANY  REVENUES  TRANSFERRED  TO  THE  METROPOLITAN  TRANSPORTATION
 AUTHORITY PURSUANT TO SUBSECTION (D) OF THIS SECTION SHALL BE PAID  INTO
 A  DEDICATED  PERSONAL  INCOME TAX SURCHARGE FUND TO BE USED EXCLUSIVELY
 FOR THE FINANCING OF TRANSIT  INFRASTRUCTURE  IMPROVEMENTS  AND  REDUCED
 FARES  FOR  LOW-INCOME  RESIDENTS  OF THE CITY OF NEW YORK IN ACCORDANCE
 WITH THE PROVISIONS OF SECTION TWELVE HUNDRED SEVENTY-I  OF  THE  PUBLIC
 AUTHORITIES  LAW.  SUCH  REVENUES  SHALL  ONLY  SUPPLEMENT AND SHALL NOT
 SUPPLANT ANY FEDERAL, STATE, OR LOCAL FUNDS EXPENDED BY THE METROPOLITAN
 TRANSPORTATION AUTHORITY FOR NEW YORK CITY TRANSIT AUTHORITY, THE METRO-
 POLITAN TRANSPORTATION AUTHORITY BUS  COMPANY  OR  STATEN  ISLAND  RAPID
 TRANSIT  OPERATING  AUTHORITY PROJECTS, AND SHALL NOT AFFECT ANY PAYMENT
 BY THE CITY OF NEW YORK PURSUANT TO AGREEMENTS RELATING TO THE METROPOL-
 ITAN TRANSPORTATION AUTHORITY BUS COMPANY AND STATEN ISLAND RAPID TRANS-
 IT OPERATING AUTHORITY.
   § 5. Paragraphs 1 and 2 of subsection (e) of section 1310 of  the  tax
 law, as added by chapter 481 of the laws of 1997, are amended to read as
 follows:
   (1)  Notwithstanding  any  other provision of law to the contrary, any
 city imposing  a  tax  under  this  article  is  hereby  authorized  and
 empowered  to  adopt and amend local laws for any taxable year beginning
 after nineteen hundred ninety-seven, as specified in  such  local  laws,
 providing  for  a credit as provided in paragraph two of this subsection
 against the taxes imposed pursuant to the authority granted  by  section
 thirteen  hundred  one of this article on the city taxable income deter-
 mined pursuant to  sections  thirteen  hundred  four,  thirteen  hundred
 four-A  [and],  thirteen  hundred  four-B AND THIRTEEN HUNDRED FOUR-E of
 this article and on the ordinary income portion of a lump  sum  distrib-
 ution  determined  pursuant  to  section  thirteen hundred one-B of this
 article, to any city resident individual, estate  or  trust  whose  city
 adjusted gross income includes income, gain, loss or deductions from one
 or  more unincorporated businesses conducted by such city resident indi-
 vidual, estate or trust on which a tax is imposed  by  chapter  five  of
 title  eleven  of  the administrative code of the city of New York, or a
 distributive share of income, gain, loss and deductions of,  or  guaran-
 teed  payments  from, one or more partnerships on which a tax is imposed
 by such chapter. Any such local laws may contain  provisions  to  ensure
 that  such credit shall not reduce the tax paid by a city resident below
 that which would be paid by such city resident  if  such  city  resident
 were a city nonresident.
   (2)  (A)  Subject  to  the limitation set forth in subparagraph (B) of
 this paragraph, the credit allowed to a  taxpayer  for  a  taxable  year
 shall be equal to all or a portion of the amount determined in paragraph
 three  of  this subsection, provided, however, such portion shall not be
 less than:

 A. 8956--A                          6

   (i) If the city taxable income is forty-two thousand dollars or  less,
 sixty-five  percent  of the amount determined in paragraph three of this
 subsection.
   (ii)  If  the  city  taxable income is greater than forty-two thousand
 dollars but not greater than one hundred forty-two thousand  dollars,  a
 percentage   of  the  amount  determined  in  paragraph  three  of  this
 subsection to be determined by subtracting from sixty-five percent,  one
 tenth  of  a  percentage point (.001) for every increment of two hundred
 dollars, or fractional part thereof, of city taxable income in excess of
 forty-two thousand dollars.
   (iii) If the city taxable income is greater than one hundred forty-two
 thousand dollars, fifteen percent of the amount determined in  paragraph
 three of this subsection.
   (B)  Notwithstanding  anything  to the contrary in subparagraph (A) of
 this paragraph, the credit allowed to a  taxpayer  for  a  taxable  year
 under  this  subsection shall not exceed the sum of the taxes that would
 otherwise be imposed on such taxpayer for such taxable year pursuant  to
 the authority granted by section thirteen hundred one of this article on
 the city taxable income determined pursuant to sections thirteen hundred
 four,  thirteen  hundred four-A [and], thirteen hundred four-B AND THIR-
 TEEN HUNDRED FOUR-E of this article and on the ordinary  income  portion
 of  a  lump  sum  distribution  determined  pursuant to section thirteen
 hundred one-B of this article, reduced by the credits  allowed  to  such
 taxpayer pursuant to subsections (a), (c) and (d) of this section.
   §  6.  The  opening paragraph of subsection (c) of section 1313 of the
 tax law, as amended by section 8 of part C of chapter 58 of the laws  of
 2005, is amended to read as follows:
   Subject to the provisions of subsection (g) of this section, the comp-
 troller, after reserving such refund fund and such costs shall, commenc-
 ing  on  or  before the fifteenth day of each month, pay to the New York
 city transitional finance authority on a  daily  basis  the  balance  of
 taxes  imposed pursuant to the authority of this article or former arti-
 cle two-E of the general city law to be applied by the authority, in the
 following order of priority: first pursuant to the authority's contracts
 with bondholders, then to pay the  authority's  operating  expenses  not
 otherwise  provided  for,  THEN  TO  A  DEDICATED  PERSONAL  INCOME  TAX
 SURCHARGE FUND PURSUANT TO SUBSECTION (D) OF  SECTION  THIRTEEN  HUNDRED
 FOUR-E  OF  THIS ARTICLE and then pursuant to the authority's agreements
 with the city, which agreements shall require the authority to  transfer
 the  balance  of  such  taxes  not required to meet contractual or other
 obligations of the authority to the city as frequently  as  practicable;
 except that the comptroller shall:
   §  7.  The  administrative  code of the city of New York is amended by
 adding a new section 11-1704.2 to read as follows:
   § 11-1704.2 TAX SURCHARGE FOR TRANSIT INFRASTRUCTURE IMPROVEMENTS  AND
 REDUCED  FARES  FOR LOW-INCOME RESIDENTS OF THE CITY. (A) IN ADDITION TO
 THE TAXES IMPOSED BY SECTIONS 11-1701, 11-1703, 11-1704 AND 11-1704.1 OF
 THIS SUBCHAPTER, THERE IS HEREBY IMPOSED FOR EACH TAXABLE YEAR BEGINNING
 AFTER TWO THOUSAND SEVENTEEN, A TAX SURCHARGE ON THE CITY TAXABLE INCOME
 OF CERTAIN CITY RESIDENT INDIVIDUALS, ESTATES AND TRUSTS.
   (B) THE TAX SURCHARGE IMPOSED PURSUANT TO THIS SECTION SHALL BE DETER-
 MINED AS FOLLOWS:
   (1) RESIDENT MARRIED INDIVIDUALS FILING  JOINT  RETURNS  AND  RESIDENT
 SURVIVING  SPOUSES.  THE  TAX  SURCHARGE  UNDER THIS SECTION ON THE CITY
 TAXABLE INCOME OF CERTAIN CITY RESIDENT MARRIED INDIVIDUALS WHO  MAKE  A
 SINGLE  RETURN  JOINTLY  WITH HIS OR HER SPOUSE UNDER SUBDIVISION (B) OF

 A. 8956--A                          7
 
 SECTION 11-1751 OF THIS CHAPTER  AND  ON  THE  CITY  TAXABLE  INCOME  OF
 CERTAIN  CITY  RESIDENT SURVIVING SPOUSES SHALL BE DETERMINED IN ACCORD-
 ANCE WITH THE FOLLOWING TABLE:
   FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND SEVENTEEN:
   IF THE CITY TAXABLE INCOME IS:        THE TAX SURCHARGE IS:
   OVER $1,000,000                       .534% OF EXCESS OVER $1,000,000
   (2) RESIDENT HEADS OF HOUSEHOLDS. THE TAX SURCHARGE UNDER THIS SECTION
 ON  THE CITY TAXABLE INCOME OF CERTAIN CITY RESIDENT HEADS OF HOUSEHOLDS
 SHALL BE DETERMINED IN ACCORDANCE WITH THE FOLLOWING TABLE:
   FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND SEVENTEEN:
   IF THE CITY TAXABLE INCOME IS:           THE TAX SURCHARGE IS:
   OVER $750,000                            .534% OF EXCESS OVER $750,000
   (3)  RESIDENT  UNMARRIED  INDIVIDUALS,  RESIDENT  MARRIED  INDIVIDUALS
 FILING  SEPARATE  RETURNS  AND  RESIDENT  ESTATES  AND  TRUSTS.  THE TAX
 SURCHARGE UNDER THIS SECTION ON THE CITY TAXABLE INCOME OF CERTAIN  CITY
 RESIDENT  INDIVIDUALS  WHO ARE NOT CITY RESIDENT MARRIED INDIVIDUALS WHO
 MAKE A SINGLE RETURN JOINTLY WITH HIS OR HER  SPOUSE  UNDER  SUBDIVISION
 (B)  OF SECTION 11-1751 OF THIS CHAPTER OR CITY RESIDENT HEADS OF HOUSE-
 HOLDS OR CITY RESIDENT SURVIVING SPOUSES, AND ON THE CITY TAXABLE INCOME
 OF CERTAIN CITY RESIDENT ESTATES  AND  TRUSTS  SHALL  BE  DETERMINED  IN
 ACCORDANCE WITH THE FOLLOWING TABLE:
   FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND SEVENTEEN:
   IF THE CITY TAXABLE INCOME IS:           THE TAX SURCHARGE IS:
   OVER $500,000                            .534% OF EXCESS OVER $500,000
   (C) THE TAX SURCHARGE IMPOSED PURSUANT TO THIS SECTION SHALL BE ADMIN-
 ISTERED  AND  COLLECTED IN THE SAME MANNER AS THE TAXES IMPOSED PURSUANT
 TO SECTIONS 11-1701,  11-1703,  11-1704  AND  11-1704.1,  AND  SHALL  BE
 DISTRIBUTED  IN  ACCORDANCE WITH SUBSECTION (D) OF SECTION 1304-E OF THE
 TAX LAW, AND ALL OF THE PROVISIONS OF THIS  CHAPTER,  INCLUDING  SECTION
 11-1706  OF  THIS  SUBCHAPTER,  AND SECTIONS 11-1721 AND 11-1773 OF THIS
 CHAPTER, SHALL APPLY TO THE  TAX  SURCHARGE  IMPOSED  PURSUANT  TO  THIS
 SECTION.
   §  8.  Paragraphs 1 and 2 of subdivision (c) of section 11-1706 of the
 administrative code of the city of New York, as added by chapter 481  of
 the  laws  of  1997, subparagraph (A) of paragraph 2 as amended by local
 law number 35 of the city of New York for the year 2007, are amended  to
 read as follows:
   (1)  A  city  resident individual, estate or trust whose city adjusted
 gross income includes income, gain, loss or deductions from one or  more
 unincorporated  businesses  conducted  by such city resident individual,
 estate or trust that are subject to the tax imposed by chapter  five  of
 this title, or a distributive share of income, gain, loss and deductions
 of,  or  guaranteed  payments  from,  one  or more partnerships that are
 subject to the tax imposed by such chapter, shall be allowed a credit as
 provided in paragraph two of this subdivision against the tax  otherwise
 due  under  sections  11-1701,  11-1703,  11-1704  [and],  11-1704.1 AND
 11-1704.2 of this [chapter] SUBCHAPTER.
   (2) (A) Subject to the limitation set forth  in  subparagraph  (B)  of
 this  paragraph,  the  credit  allowed  to a taxpayer for a taxable year
 under this subdivision shall be determined as follows:
   (i) For taxable years beginning on or after  January  first,  nineteen
 hundred ninety-seven and before January first, two thousand seven:
   (I)  If the city taxable income is forty-two thousand dollars or less,
 the credit shall be sixty-five percent of the amount determined in para-
 graph three of this subdivision.

 A. 8956--A                          8
 
   (II) If the city taxable income is  greater  than  forty-two  thousand
 dollars but not greater than one hundred forty-two thousand dollars, the
 amount  of  the credit shall be a percentage of the amount determined in
 paragraph three of this subdivision, such percentage to be determined by
 subtracting  from  sixty-five  percent,  one-tenth of a percentage point
 (.001) for every increment of two hundred dollars,  or  fractional  part
 thereof, of city taxable income in excess of forty-two thousand dollars.
   (III) If the city taxable income is greater than one hundred forty-two
 thousand  dollars,  the  credit  shall  be fifteen percent of the amount
 determined in paragraph three of this subdivision.
   (ii) For taxable years beginning on or after January first, two  thou-
 sand seven:
   (I)  If the city taxable income is forty-two thousand dollars or less,
 the credit shall be one hundred percent  of  the  amount  determined  in
 paragraph three of this subdivision.
   (II)  If  the  city  taxable income is greater than forty-two thousand
 dollars but less than one hundred forty-two thousand dollars, the amount
 of the credit shall be a percentage of the amount  determined  in  para-
 graph  three  of  this  subdivision, such percentage to be determined by
 subtracting  from  one  hundred  percent,  a  percentage  determined  by
 subtracting  forty-two thousand dollars from city taxable income, divid-
 ing the result by one hundred thousand dollars and multiplying by seven-
 ty-seven percent.
   (III) If the city taxable income is  one  hundred  forty-two  thousand
 dollars  or  greater,  the  credit  shall be twenty-three percent of the
 amount determined in paragraph three of this subdivision.
   (B) Notwithstanding anything to the contrary in  subparagraph  (A)  of
 this  paragraph,  the  credit  allowed  to a taxpayer for a taxable year
 under this subdivision shall not exceed the sum of the taxes that  would
 otherwise  be  imposed  by  sections  11-1701,  11-1703,  11-1704 [and],
 11-1704.1 AND 11-1704.2 of this [chapter] SUBCHAPTER  on  such  taxpayer
 for  such  taxable year after the allowance of any other credits allowed
 by this section or section 11-1721 of this chapter.
   § 9. This act shall take effect immediately and  shall  be  deemed  to
 have  been  in  full  force  and  effect  on  and after January 1, 2018;
 provided that subdivision 9 of section 1205 of  the  public  authorities
 law,  as  added by section one of this act, shall take effect January 1,
 2019.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.