Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Feb 12, 2018 | print number 6830b |
Feb 12, 2018 | amend (t) and recommit to transportation |
Jan 03, 2018 | referred to transportation |
Jun 28, 2017 | print number 6830a |
Jun 28, 2017 | amend (t) and recommit to rules |
Jun 27, 2017 | referred to rules |
senate Bill S6830B
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
Sponsored By
Michael Gianaris
(D, WF) 12th Senate District
Archive: Last Bill Status - In Senate Committee Transportation Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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S6830 - Details
- See Assembly Version of this Bill:
- A8956
- Current Committee:
- Senate Transportation
- 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: S3246, A2743
2021-2022: S1194, A4434
2023-2024: S602, A4474
S6830 - Sponsor Memo
BILL NUMBER: S6830 TITLE OF BILL : An act to amend the public authorities law, in relation to providing for the appointment of an emergency manager for the metropolitan transportation 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 and establishing a metropolitan transportation authority hotel unit fee in the city of New York; to direct the comptroller to transfer moneys in the general fund to the MTA financial assistance fund; and providing for the repeal of certain provisions upon expiration thereof PURPOSE : This bill would provide the necessary revenue and oversight to rechart the course of the MTA to improve reliability and safety. SUMMARY OF SPECIFIC PROVISIONS : Section 2 amends the public authorities law, adding a new section 1263-a to create the position of emergency manager for the MTA, requiring confirmation of both houses of the legislature and the submission of a turnaround plan for the MTA
Sections 3, 4, and 5 establish personal income tax rate increases for millionaires in the mctd region Section 6 establishes the tax table benefit recapture for the mctd Sections 7, 8, 9, and 10 establishes a hotel unit fee surcharge for rooms in New York City with revenue dedicated to the MTA Section 11 directs the comptroller to deposit proceeds from the personal income tax increase in to the MTA financial assistance fund JUSTIFICATION : Commuters in the New York City metro area are fed up. Due to constant problems with the various components of the MTA, commuters are, at best, a few minutes late for work, and at worst, trapped in tunnels for hours on-end. The MTA is simply not addressing the critical issues facing commuters. Bold action is needed both in the funding and management of the MTA. The Emergency Manager will develop a plan to ensure that the MTA is focusing on critical needs of the system, prioritizing the projects that improve on-time performance, reliability and safety. Additionally, the MTA spends a large portion of its budget on debt service for projects completed decades ago. This legislation provides two new dedicated revenue streams to get the MTA on more solid fiscal ground as it implements a turnaround plan over a 3-year period. This will ensure that not only will the MTA have the money to take action, and ensure long term financial stability. PRIOR LEGISLATIVE HISTORY : New Bill FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS : More than $2 billion in new revenue for the MTA EFFECTIVE DATE : Immediately, provided that sections 7, 8,9 and 10 shall take effect January 1, 2018 and sections 1, 2, 7, 8, 9 and 10 will sunset January 1, 2021.
S6830 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6830 2017-2018 Regular Sessions I N S E N A T E June 27, 2017 ___________ Introduced by Sen. GIANARIS -- read twice and ordered printed, and when printed to be committed to the Committee on Rules 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 and establishing a metropolitan transportation authority hotel unit fee in the city of New York; to direct the comptroller 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
LBD13277-03-7 S. 6830 2 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. 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 S. 6830 3 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 $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 S. 6830 4 $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 $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 S. 6830 5 $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 6.33% 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 S. 6830 6 OVER $1,605,650 BUT NOT OVER $108,284 PLUS 8.98% OF EXCESS OVER $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 S. 6830 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 S. 6830 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 S. 6830 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 S. 6830 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 S. 6830 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 S. 6830 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. The tax law is amended by adding a new section 1104-a to read as follows: § 1104-A. METROPOLITAN TRANSPORTATION AUTHORITY HOTEL UNIT FEE. (A) IMPOSITION. IN ADDITION TO ANY OTHER FEE OR TAX IMPOSED BY THIS ARTICLE OR ANY OTHER LAW, THERE IS HEREBY IMPOSED WITHIN THE TERRITORIAL LIMITS OF A CITY WITH A POPULATION OF A MILLION OR MORE AND THERE SHALL BE PAID A UNIT FEE ON EVERY OCCUPANCY OF A UNIT IN A HOTEL IN SUCH CITY AT THE RATE OF FIVE DOLLARS PER UNIT PER DAY, EXCEPT THAT SUCH UNIT FEE SHALL NOT BE IMPOSED UPON (1) OCCUPANCY BY A PERMANENT RESIDENT OR (2) WHERE THE RENT PER UNIT IS NOT MORE THAN AT THE RATE OF TWO DOLLARS PER DAY. (B) ADMINISTRATION AND ENFORCEMENT. THE UNIT FEE IMPOSED BY THIS SECTION SHALL BE ADMINISTERED AND COLLECTED IN A LIKE MANNER AS THE TAX IMPOSED BY SUBDIVISION (E) OF SECTION ELEVEN HUNDRED FIVE OF THIS ARTI- CLE. ALL THE PROVISIONS OF THIS ARTICLE (EXCEPT SECTIONS ELEVEN HUNDRED SEVEN, ELEVEN HUNDRED EIGHT AND ELEVEN HUNDRED NINE), INCLUDING THE DEFINITION AND EXEMPTION PROVISIONS, RELATING TO OR APPLICABLE TO THE ADMINISTRATION, COLLECTION AND DISPOSITION OF THE TAX IMPOSED BY SUBDI- VISION (E) OF SUCH SECTION ELEVEN HUNDRED FIVE OF THIS ARTICLE SHALL APPLY TO THE UNIT FEE IMPOSED BY THIS SECTION SO FAR AS SUCH PROVISIONS CAN BE MADE APPLICABLE TO SUCH UNIT FEE WITH SUCH LIMITATIONS AS ARE SET FORTH IN THIS ARTICLE, AND SUCH MODIFICATIONS AS ARE SET FORTH IN THIS SECTION AND AS MAY BE NECESSARY IN ORDER TO ADOPT SUCH LANGUAGE TO THE UNIT FEE SO IMPOSED. SUCH PROVISIONS SHALL APPLY WITH THE SAME FORCE AND EFFECT AS IF THE LANGUAGE OF THOSE PROVISIONS HAD BEEN INCORPORATED IN FULL IN THIS SECTION AND HAD EXPRESSLY REFERRED TO THE UNIT FEE IMPOSED BY THIS SECTION, EXCEPT TO THE EXTENT THAT ANY PROVISION IS EITHER INCONSISTENT WITH A PROVISION OF THIS SECTION OR IS NOT RELEVANT TO THE UNIT FEE IMPOSED BY THIS SECTION. FOR PURPOSES OF THIS SECTION, UNLESS A DIFFERENT MEANING IS CLEARLY REQUIRED: (1) ANY REFERENCE IN THIS ARTICLE TO THE TAX OR TAXES IMPOSED BY THIS ARTICLE SHALL BE DEEMED TO REFER ALSO TO THE UNIT FEE IMPOSED BY THIS SECTION; AND (2) ANY REFERENCE TO TAX, TAXES OR SALES TAX IN SECTION EIGHTEEN HUNDRED SEVENTEEN OF THIS CHAPTER SHALL BE DEEMED TO REFER ALSO TO THE UNIT FEE IMPOSED BY THIS SECTION. S. 6830 13 (C) TRANSITIONAL PROVISION. THE UNIT FEE IMPOSED BY THIS SECTION SHALL BE PAID ON ANY OCCUPANCY ON OR AFTER THE EFFECTIVE DATE OF THIS SECTION, ALTHOUGH SUCH OCCUPANCY IS PURSUANT TO A PRIOR CONTRACT, LEASE OR OTHER ARRANGEMENT. WHERE THE CHARGE FOR OCCUPANCY IS PAID ON A WEEKLY, MONTHLY OR OTHER TERM BASIS, THE OCCUPANCY SHALL BE SUBJECT TO THE UNIT FEE IMPOSED BY THIS SECTION TO THE EXTENT THAT IT COVERS ANY DAY ON OR AFTER THE EFFECTIVE DATE OF THIS SECTION. WHERE A PERSON OCCUPIES A UNIT FOR LESS THAN A FULL DAY AND PAYS LESS THAN THE RENT FOR A FULL DAY, THE UNIT FEE DUE PURSUANT TO THIS SECTION SHALL NEVERTHELESS BE THE SAME AMOUNT AS WOULD BE DUE HAD SUCH PERSON OCCUPIED THE UNIT FOR A FULL DAY AT THE RENT FOR A FULL DAY. (D) DEPOSIT AND DISPOSITION OF REVENUE. (1) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE FEES, INTEREST AND PENALTIES IMPOSED BY THIS SECTION AND RECEIVED BY THE COMMISSIONER, AFTER DEDUCT- ING THE AMOUNT WHICH THE COMMISSIONER SHALL DETERMINE TO BE NECESSARY FOR REASONABLE COSTS TO ADMINISTER, COLLECT AND DISTRIBUTE SUCH FEES, PENALTIES AND INTEREST, SHALL BE DEPOSITED DAILY WITH SUCH RESPONSIBLE BANKS, BANKING HOUSES OR TRUST COMPANIES, AS MAY BE DESIGNATED BY THE COMPTROLLER, TO THE CREDIT OF THE COMPTROLLER, TO BE HELD IN TRUST FOR THE METROPOLITAN TRANSPORTATION AUTHORITY ESTABLISHED BY TITLE ELEVEN OF ARTICLE FIVE OF THE PUBLIC AUTHORITIES LAW. SUCH AN ACCOUNT MAY BE ESTABLISHED IN ONE OR MORE OF SUCH DEPOSITORIES. SUCH DEPOSITS SHALL BE KEPT SEPARATE AND APART FROM ALL OTHER MONEY IN THE POSSESSION OF THE COMPTROLLER. THE COMPTROLLER SHALL REQUIRE ADEQUATE SECURITY FROM ALL SUCH DEPOSITORIES. OF THE TOTAL REVENUE COLLECTED OR RECEIVED UNDER THIS SECTION, THE COMPTROLLER SHALL RETAIN IN THE COMPTROLLER'S HANDS SUCH AMOUNT AS THE COMMISSIONER MAY DETERMINE TO BE NECESSARY FOR REFUNDS UNDER THIS SECTION. (2) ON OR BEFORE THE TWELFTH DAY OF EACH MONTH: (A) AFTER RESERVING SUCH AMOUNT FOR SUCH REFUNDS AND SUCH COSTS, THE COMMISSIONER SHALL CERTIFY TO THE COMPTROLLER THE AMOUNT OF ALL REVENUES SO RECEIVED DURING THE PRIOR MONTH AS A RESULT OF THE FEES, INTEREST AND PENALTIES SO IMPOSED; AND (B) THE AMOUNT OF REVENUES SO CERTIFIED SHALL BE PAID BY THE COMPTROLLER TO THE CHIEF FISCAL OFFICER OF THE METROPOLITAN TRANS- PORTATION AUTHORITY FOR DISPOSITION BY SUCH AUTHORITY IN ACCORDANCE WITH TITLE ELEVEN OF ARTICLE FIVE OF THE PUBLIC AUTHORITIES LAW. § 8. Subdivision (g) of section 1116 of the tax law, as amended by chapter 3 of the laws of 2004, is amended to read as follows: (g) For purposes of paragraph five of subdivision (a) of this section, duly authorized representatives of any such post or organization, while acting on behalf of such post or organization, shall not be subject to the tax imposed under subdivision (e) of section eleven hundred five [or], the unit fee imposed by section eleven hundred four of this arti- cle OR THE UNIT FEE IMPOSED BY SECTION ELEVEN HUNDRED FOUR-A OF THIS ARTICLE, provided that such representatives provide an exempt organiza- tion certificate from such post or organization certifying that such representative is acting on its behalf. § 9. Section 1148 of the tax law, as amended by section 57 of part HH of chapter 57 of the laws of 2013, is amended to read as follows: § 1148. Deposit and disposition of revenue. All taxes, interest and penalties collected or received by the commissioner under this article shall be deposited and disposed of pursuant to the provisions of section one hundred seventy-one-a of this chapter; provided however, the comp- troller shall on or before the twelfth day of each month, pay all such taxes, interest and penalties collected under this article and remaining to the comptroller's credit in such banks, banking houses or trust S. 6830 14 companies at the close of business on the last day of the preceding month, into the general fund of the state treasury, except as otherwise provided in sections ninety-two-d, ninety-two-h, and ninety-two-r of the state finance law and sections eleven hundred two, eleven hundred four, ELEVEN HUNDRED FOUR-A and eleven hundred nine of this article. § 10. Subdivision (h) of section 1817 of the tax law, as amended by section 30 of subpart I of part V-1 of chapter 57 of the laws of 2009, is amended to read as follows: (h) The penalties provided for in this section shall not preclude prosecution pursuant to the penal law with respect to the willful fail- ure of any person to pay over to the state any sales tax imposed by section eleven hundred four, ELEVEN HUNDRED FOUR-A, eleven hundred five, eleven hundred seven, eleven hundred eight or eleven hundred nine of this chapter or by any local law adopted by any city or county pursuant to article twenty-nine of this chapter, whenever such person has been required to collect and has collected any such sales tax. In any such prosecution under the penal law, a person who has been required to collect and has collected any such tax shall be deemed to have acted in a fiduciary character with respect to the state or a political subdivi- sion thereof, and the tax collected shall be deemed to have been entrusted to such person by the state or a political subdivision there- of. § 11. 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. § 12. This act shall take effect immediately; provided that: (a) sections seven, eight, nine and ten of this act shall take effect January 1, 2018; and (b) sections one, two, seven, eight, nine, ten and eleven of this act shall expire and be deemed repealed January 1, 2021.
S6830A - Details
- See Assembly Version of this Bill:
- A8956
- Current Committee:
- Senate Transportation
- 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: S3246, A2743
2021-2022: S1194, A4434
2023-2024: S602, A4474
S6830A - Sponsor Memo
BILL NUMBER: S6830A TITLE OF BILL : An act to amend the public authorities law, in relation to providing for the appointment of an emergency manager for the metropolitan transportation 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 comptroller to transfer moneys in the general fund to the MTA financial assistance fund; and providing for the repeal of certain provisions upon expiration thereof PURPOSE : This bill would provide the necessary revenue and oversight to rechart the course of the MTA to improve reliability and safety. SUMMARY OF SPECIFIC PROVISIONS : Section 2 amends the public authorities law, adding a new section 1263-a to create the position of emergency manager for the MTA, requiring confirmation of both houses of the legislature and the submission of a turnaround plan for the MTA. Sections 3, 4, and 5 establish personal income tax rate increases for millionaires in the mctd region.
Section 6 establishes the tax table benefit recapture for the mctd. Section 7 directs the comptroller to deposit proceeds from the personal income tax increase in to the MTA financial assistance fund. JUSTIFICATION : Commuters in the MTA region are fed up. Due to constant problems with the various components of the MTA, commuters are, at best, late for work, and at worst, trapped in tunnels for hours on-end or in danger of derailments. The MTA is simply not addressing the critical issues facing commuters. Bold action is needed both in the funding and management of the MTA. The Emergency Manager will develop a plan to ensure that the MTA is focusing on critical needs of the system, prioritizing the projects that improve on-time performance, reliability and safety. Additionally, the MTA has been grossly underfunded and neglected for years. This legislation provides a new, temporary dedicated revenue stream to get the MTA on more solid fiscal ground as it implements a turnaround plan over a 3-year period. This funding stream will impact only those individuals in the region who can most afford to pay. This new revenue will ensure that the MTA will have the money to take immediate remedial action, and establish long term financial stability. PRIOR LEGISLATIVE HISTORY : New Bill FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS : More than $2 billion annually in new revenue for the MTA for three years. EFFECTIVE DATE : Immediately, provided that sections 1,2 and 7 will sunset January 1, 2021.
S6830A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6830--A 2017-2018 Regular Sessions I N S E N A T E June 27, 2017 ___________ Introduced by Sen. GIANARIS -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
LBD13277-04-7 S. 6830--A 2 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. 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 S. 6830--A 3 $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 $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: S. 6830--A 4 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 $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 S. 6830--A 5 $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 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 S. 6830--A 6 $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 $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: S. 6830--A 7 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 6.33% 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 S. 6830--A 8 $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 $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 S. 6830--A 9 $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 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 S. 6830--A 10 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 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 S. 6830--A 11 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 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 S. 6830--A 12 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 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.
S6830B (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8956
- Current Committee:
- Senate Transportation
- 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: S3246, A2743
2021-2022: S1194, A4434
2023-2024: S602, A4474
S6830B (ACTIVE) - Sponsor Memo
BILL NUMBER: S6830B SPONSOR: GIANARIS TITLE OF BILL: An act to amend the public authorities law, the tax law and the administrative 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 PURPOSE: To provide much needed revenue to repair MTA infrastructure in New York City and to provide reduced fares for those most in need. SUMMARY OF PROVISIONS: Section 1 amends Public Authorities Law section 1205 by adding a new subdivision 9 to establish a reduced fare program for those aged 18-64 earning at or under the federal poverty level.
Section 2 adds a new' section 1270-I to the Public Authorities Law. This section requires that the MTA establish a dedicated fund for reven- ues collected from imposition of the surcharge on the personal income tax (PIT) of certain high-income residents of the City of New York, and set up separate accounts for infrastructure improvements and a reduced fare program. Section 1270-I also establishes permissible uses for infrastructure funds, outlines obligations to bondholders, and requires that revenues be divided evenly between the infrastructure and the reduced fare accounts. Section 3 amends subdivision 5 of section 2799-hh of the Public Authori- ties Law to establish a mechanism for the Transitional Finance Authority (TFA) to pay PIT surcharge revenues into the dedicated fund required by new 1270-1 of the Public Authorities Law. Section 4 amends the Tax Law by adding a new section 1304-E to authorize the imposition of an income tax surcharge on high-earning taxpayers who are subject to the city's personal income tax. This section also requires that the revenue collected from imposition of the surcharge "shall only supplement and shall not supplant" any funds that the MTA uses for NYCTA, MTA Bus Company or SIRTOA projects and shall be used "exclusively for the financing of transit infrastructure improvements and reduced fares for low-income residents of the city of New York". Section 5 amends paragraphs 1 and 2 of subsection (e) of section 1310 of the Tax Law to authorize a credit against the surcharge for unincorpo- rated business taxes paid. Section 6 amends subsection (c) of section 1313 of the Tax Law to provide for the flow of surcharge revenue from the TFA to the dedicated fund. Section 7 amends the Administrative Code of the City of New York by adding a new section 11-1704.2 to impose the surcharge authorized by section 4. Section 8 amends paragraphs 1 and 2 of subdivision (c) of section 11-1706 of the Administrative Code of the City of New York to provide the credit authorized by section 5. JUSTIFICATION: Commuters in the MTA region are fed up. Due to constant problems with the various components of the MTA, commuters are at best, late for work, and at worst, trapped in tunnels for hours on-end or in danger of derailments. The MTA is simply not addressing the critical issues facing commuters. Bold action is needed. The MTA has been grossly underfunded and neglected for years. This legislation provides a new, dedicated revenue stream to fund the projects critical to the MTA's operations. Instead of putting the burden on the working class, the new revenue will only affect the wealthiest New Yorkers. This new revenue will ensure that the MTA will have the money to take immediate remedial action, and establish long-term financial stability. Further, the new funding will ensure that those most in need of assistance will be able to get reduced fares to get to their jobs and family obligations. PRIOR LEGISLATIVE HISTORY: New Bill EFFECTIVE DATE: Immediately, except that the effective date for the reduced fare program is January 1,2019.
S6830B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6830--B 2017-2018 Regular Sessions I N S E N A T E June 27, 2017 ___________ Introduced by Sen. GIANARIS -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Transportation in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
LBD13277-09-8 S. 6830--B 2 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: § 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 S. 6830--B 3 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 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 S. 6830--B 4 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 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- S. 6830--B 5 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- 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 S. 6830--B 6 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: (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 S. 6830--B 7 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 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. S. 6830--B 8 (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. (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.
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