S T A T E   O F   N E W   Y O R K
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                                 7290--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               May 1, 2015
                               ___________

Introduced  by  M.  of  A.  GUNTHER, SKOUFIS, CAHILL, SKARTADOS, RAIA --
  Multi-Sponsored by -- M. of A. MARKEY -- read once and referred to the
  Committee on Ways and Means --  committee  discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

AN  ACT  to amend the tax law, in relation to establishing an income tax
  credit for certain metropolitan commuters

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

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (ccc) to read as follows:
  (CCC) METROPOLITAN COMMUTER TRANSPORTATION DISTRICT  FEE  TAX  CREDIT.
ANY  PERSON  WHO  PAYS  THE  REGISTRATION  FEE  REQUIRED BY SECTION FOUR
HUNDRED NINETY-NINE-A OF THE VEHICLE AND TRAFFIC LAW FOR A FARM  VEHICLE
REGISTERED  PURSUANT TO SUBDIVISION THIRTEEN OF SECTION FOUR HUNDRED ONE
OF THE VEHICLE AND TRAFFIC LAW SHALL BE ALLOWED A CREDIT OF ONE  HUNDRED
PERCENT  OF  SUCH FEE AGAINST THE TAX OTHERWISE IMPOSED BY THIS ARTICLE.
IF THE AMOUNT OF CREDIT ALLOWED UNDER THIS SUBSECTION  FOR  ANY  TAXABLE
YEAR  EXCEEDS  THE  TAXPAYER'S  TAX  FOR  SUCH YEAR, THE EXCESS SHALL BE
TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN  ACCORD-
ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S  2. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a new  clause  (xliii)  to  read  as
follows:
(XLIII) METROPOLITAN COMMUTER        AMOUNT OF CREDIT UNDER
TRANSPORTATION DISTRICT FEE TAX      SUBDIVISION FIFTY-ONE OF
CREDIT UNDER SUBSECTION (CCC)        SECTION TWO HUNDRED TEN-B
  S  3. Section 210-B of the tax law is amended by adding a new subdivi-
sion 51 to read as follows:
  51. METROPOLITAN COMMUTER TRANSPORTATION DISTRICT FEE TAX CREDIT.  (A)
ANY TAXPAYER WHO PAYS THE REGISTRATION  FEE  REQUIRED  BY  SECTION  FOUR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10471-06-5
              

A. 7290--A                          2

HUNDRED  NINETY-NINE-A OF THE VEHICLE AND TRAFFIC LAW FOR A FARM VEHICLE
REGISTERED PURSUANT TO SUBDIVISION THIRTEEN OF SECTION FOUR HUNDRED  ONE
OF  THE VEHICLE AND TRAFFIC LAW SHALL BE ALLOWED A CREDIT OF ONE HUNDRED
PERCENT OF SUCH FEE AGAINST THE TAX OTHERWISE IMPOSED BY THIS ARTICLE.
  (B)  APPLICATION  OF CREDIT. THE CREDIT ALLOWED UNDER THIS SUBDIVISION
FOR ANY TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO  LESS
THAN  THE  FIXED  DOLLAR  MINIMUM  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, HOWEVER, THE
PROVISIONS OF SUBSECTION (C) OF SECTION  ONE  THOUSAND  EIGHTY-EIGHT  OF
THIS CHAPTER NOTWITHSTANDING, NO INTEREST SHALL BE PAID THEREON.
  S 4. This act shall take effect immediately and shall apply to taxable
years beginning on and after January 1, 2016.