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Assembly Bill A7367

2019-2020 Legislative Session

Creates a congestion toll offset tax credit

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Archive: Last Bill Status - In Assembly Committee

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2019-A7367 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2021-2022: A782
2023-2024: A1233
2025-2026: A3597

2019-A7367 (ACTIVE) - Summary

Creates a congestion toll offset tax credit.

2019-A7367 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7367
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 26, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI, JAFFEE, JACOBSON -- read once and
   referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to creating a  congestion  toll
   offset tax credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (kkk) to read as follows:
   (KKK) CONGESTION TOLL OFFSET TAX CREDIT.  (1) FOR TAXABLE YEARS BEGIN-
 NING  ON  OR  AFTER  JANUARY  FIRST, TWO THOUSAND TWENTY-ONE, A RESIDENT
 INDIVIDUAL WHOSE PRIMARY RESIDENCE IS LOCATED IN THE COUNTY OF  ROCKLAND
 OR  THE  COUNTY  OF  ORANGE  SHALL BE ALLOWED A CREDIT TO BE COMPUTED AS
 PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR
 QUALIFIED TOLLS PAID DURING SUCH TAXABLE YEAR.
   (2) AS USED IN THIS SUBSECTION, "QUALIFIED  TOLLS"  MEANS  THE  AMOUNT
 CHARGED TO A TAXPAYER'S VEHICLE, UP TO THE CONGESTION TOLL AMOUNT PURSU-
 ANT TO ARTICLE FORTY-FOUR-C OF THE VEHICLE AND TRAFFIC LAW, FOR CROSSING
 EITHER THE GOVERNOR MARIO M. CUOMO BRIDGE OR GEORGE WASHINGTON BRIDGE IF
 SUCH  TAXPAYER  SUBSEQUENTLY,  WITHIN TWO HOURS OF CROSSING SUCH BRIDGE,
 ENTERED THE CONGESTION TOLLING ZONE.
   (3) THE AMOUNT OF THE CREDIT PURSUANT  TO  THIS  SUBSECTION  SHALL  BE
 QUALIFIED  TOLLS  PAID  BY A TAXPAYER DURING THE TAXABLE YEAR, EXCEPT IN
 THE CASE WHERE TWO QUALIFIED TAXPAYERS FILE JOINTLY, THE AMOUNT OF  SUCH
 CREDIT  SHALL  BE  THE  COMBINED  QUALIFIED TOLLS PAID BY SUCH QUALIFIED
 TAXPAYERS DURING THE TAXABLE YEAR AS COMPUTED BY ADDING THE TAX  CREDITS
 EACH  WOULD  BE  ALLOWED  PURSUANT TO THIS SUBSECTION IF THEY EACH FILED
 INDIVIDUALLY.
   § 2. This act shall take effect immediately and  shall  apply  to  the
 taxable year in which it takes effect and taxable years commencing ther-
 eafter.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11016-03-9

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