Assembly Bill A10503

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10503
 
                           I N  A S S E M B L Y
 
                               March 6, 2026
                                ___________
 
 Introduced  by  M.  of  A.  CUNNINGHAM  -- read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing  a  tax  credit
   for trucks entering into the central business district
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 210-B of the tax law is amended  by  adding  a  new
 subdivision 63 to read as follows:
   63.  CENTRAL  BUSINESS  DISTRICT  TOLL  CREDIT.  (A) FOR TAXABLE YEARS
 BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-SIX, COMMERCIAL
 OWNERS OF TRUCKS, AS DEFINED IN SECTION ONE HUNDRED FIFTY-EIGHT  OF  THE
 VEHICLE AND TRAFFIC LAW, THAT ENTER THE CENTRAL BUSINESS DISTRICT ESTAB-
 LISHED  PURSUANT  TO ARTICLE FORTY-FOUR-C OF THE VEHICLE AND TRAFFIC LAW
 SHALL BE ELIGIBLE FOR A TAX CREDIT FOR ALL ADDITIONAL TOLLS  CHARGED  ON
 TRIPS INTO THE CENTRAL BUSINESS DISTRICT AFTER THE FIRST ENTRY PER DAY.
   (B) THE CREDIT SHALL BE EQUAL TO THE TOTAL AMOUNT OF TOLLS PAID BY THE
 TAXPAYER FOR ENTRY INTO THE CENTRAL BUSINESS DISTRICT DURING THE TAXABLE
 YEAR  LESS THE TOTAL OF ALL TOLLS PAID BY THE TAXPAYER FOR ONE ENTRY PER
 DAY INTO THE CENTRAL BUSINESS DISTRICT.
   (C) THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS  SUBDIVISION  FOR  ANY
 TAXABLE YEAR SHALL NOT EXCEED TWENTY-FIVE THOUSAND DOLLARS.
   (D)  THE  CREDIT  ALLOWED  UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR
 SHALL NOT REDUCE THE TAX DUE FOR SUCH  YEAR  TO  LESS  THAN  THE  AMOUNT
 PRESCRIBED  IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO HUNDRED
 TEN OF THIS ARTICLE. HOWEVER, IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS
 SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO SUCH  AMOUNT  OR  IF
 THE  TAXPAYER  OTHERWISE  PAYS  TAX  BASED  ON  THE FIXED DOLLAR MINIMUM
 AMOUNT, ANY AMOUNT OF CREDIT THUS NOT DEDUCTIBLE IN  SUCH  TAXABLE  YEAR
 SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION  ONE  THOUSAND  EIGHTY-SIX  OF
 THIS  CHAPTER.  PROVIDED  FURTHER,  THE  PROVISIONS OF SUBSECTION (C) OF
 SECTION ONE THOUSAND EIGHTY-EIGHT OF THIS  CHAPTER  NOTWITHSTANDING,  NO
 INTEREST SHALL BE PAID THEREON.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14835-01-6