Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 14, 2016 |
print number 2703a |
Jan 14, 2016 |
amend and recommit to investigations and government operations |
Jan 06, 2016 |
referred to investigations and government operations |
Jan 28, 2015 |
referred to investigations and government operations |
Senate Bill S2703A
2015-2016 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
(D) Senate District
(D) Senate District
(D, IP) Senate District
(D, IP) Senate District
2015-S2703 - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Add §§42 & 187-t, amd §§210-B, 606 & 1511, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S6737
2017-2018: S1406
2019-2020: S1144
2015-S2703 - Sponsor Memo
BILL NUMBER:S2703 TITLE OF BILL: An act to amend the tax law, in relation to establishing tax credits for taxpayers which provide their employees with access to federal qualified transportation fringe benefits PURPOSE: To provide businesses with a tax credit as an inventive to offer their employees federal qualified transportation benefits. SUMMARY OF PROVISIONS: Section 1 adds a new section 42 to the tax law. This section gives filers who file under articles nine, nine-A, twenty- two, or thirty-three of the tax law a credit against such taxes in tax year 2015. The credit is equal to $50 for each employee who elects to participate in a qualified fringe transportation benefit program offered by the employer, as defined by section 132(f) of the Internal Revenue Code. This credit can be claimed only by an employer who establishes such a program on the tax year they claimed the credit for without having offered such a program previously. The maximum credit any tax payer can claim is $50,000. The maximum amount which can be claimed for this credit by all filers is $5 million. Section 2 adds a new sections 187-t of the tax law to establish the
2015-S2703 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2703 2015-2016 Regular Sessions I N S E N A T E January 28, 2015 ___________ Introduced by Sens. CARLUCCI, AVELLA, KLEIN, SAVINO, VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to establishing tax credits for taxpayers which provide their employees with access to federal quali- fied transportation fringe benefits THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 42 to read as follows: S 42. CREDIT FOR PROVISION OF EMPLOYEE FEDERAL QUALIFIED TRANSPORTA- TION FRINGE BENEFITS. (A) ALLOWANCE OF CREDIT. FOR THE TAXABLE YEAR COMMENCING ON JANUARY FIRST, TWO THOUSAND FIFTEEN, A TAXPAYER SUBJECT TO TAX UNDER ARTICLE NINE, NINE-A, TWENTY-TWO OR THIRTY-THREE OF THIS CHAP- TER SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX, PURSUANT TO THE PROVISIONS REFERENCED IN SUBDIVISION (D) OF THIS SECTION. THE CREDIT SHALL BE ALLOWED WHERE A TAXPAYER HAS ESTABLISHED AND IMPLEMENTED FEDER- AL QUALIFIED TRANSPORTATION FRINGE BENEFITS FOR ITS EMPLOYEES DURING THE TAXABLE YEAR IN WHICH SUCH CREDIT IS CLAIMED, AND THE TAXPAYER HAS NOT PROVIDED SUCH BENEFITS TO ITS EMPLOYEES DURING ANY PRIOR TAXABLE YEAR. THE CREDIT SHALL BE EQUAL TO FIFTY DOLLARS FOR EACH EMPLOYEE OF THE TAXPAYER WHO ELECTED TO PARTICIPATE IN THE TAXPAYER'S FEDERAL QUALIFIED TRANSPORTATION FRINGE BENEFITS PROGRAM DURING THE TAXABLE YEAR IN WHICH SUCH PROGRAM IS ESTABLISHED BY THE TAXPAYER. THE AMOUNT OF THE CREDIT GRANTED TO ANY TAXPAYER PURSUANT TO THIS SECTION SHALL NOT EXCEED FIFTY THOUSAND DOLLARS. (B) DEFINITION. AS USED IN THIS SECTION, "FEDERAL QUALIFIED TRANSPOR- TATION FRINGE BENEFITS" MEANS A QUALIFIED FEDERAL TRANSPORTATION FRINGE BENEFITS PROGRAM ESTABLISHED AND IMPLEMENTED BY A TAXPAYER IN ACCORDANCE WITH SECTION 132(F) OF THE INTERNAL REVENUE CODE AND THE REGULATIONS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08329-01-5
co-Sponsors
(D) Senate District
(D) Senate District
(D, IP) Senate District
(D, IP) Senate District
2015-S2703A (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Add §§42 & 187-t, amd §§210-B, 606 & 1511, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S6737
2017-2018: S1406
2019-2020: S1144
2015-S2703A (ACTIVE) - Sponsor Memo
BILL NUMBER: S2703A TITLE OF BILL : An act to amend the tax law, in relation to establishing tax credits for taxpayers which provide their employees with access to federal qualified transportation fringe benefits PURPOSE : To provide businesses with a tax credit as an inventive to offer their employees federal qualified transportation benefits. SUMMARY OF PROVISIONS : Section 1 adds a new section 42 to the tax law. This section gives filers who file under articles nine, nine-A, twenty- two, or thirty-three of the tax law a credit against such taxes in tax year 2016. The credit is equal to $50 for each employee who elects to participate in a qualified fringe transportation benefit program offered by the employer, as defined by section 132(f) of the Internal Revenue Code. This credit can be claimed only by an employer who establishes such a program on the tax year they claimed the credit for without having offered such a program previously. The maximum credit any tax payer can claim is $50,000. The maximum amount which can be claimed for this credit by all filers is $5 million.
2015-S2703A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2703--A 2015-2016 Regular Sessions I N S E N A T E January 28, 2015 ___________ Introduced by Sens. CARLUCCI, AVELLA, KLEIN, SAVINO, VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- recommitted to the Committee on Investigations and Government Operations 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 tax law, in relation to establishing tax credits for taxpayers which provide their employees with access to federal quali- fied transportation fringe benefits THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 42 to read as follows: S 42. CREDIT FOR PROVISION OF EMPLOYEE FEDERAL QUALIFIED TRANSPORTA- TION FRINGE BENEFITS. (A) ALLOWANCE OF CREDIT. FOR THE TAXABLE YEAR COMMENCING ON JANUARY FIRST, TWO THOUSAND SIXTEEN, A TAXPAYER SUBJECT TO TAX UNDER ARTICLE NINE, NINE-A, TWENTY-TWO OR THIRTY-THREE OF THIS CHAP- TER SHALL BE ALLOWED A CREDIT AGAINST SUCH TAX, PURSUANT TO THE PROVISIONS REFERENCED IN SUBDIVISION (D) OF THIS SECTION. THE CREDIT SHALL BE ALLOWED WHERE A TAXPAYER HAS ESTABLISHED AND IMPLEMENTED FEDER- AL QUALIFIED TRANSPORTATION FRINGE BENEFITS FOR ITS EMPLOYEES DURING THE TAXABLE YEAR IN WHICH SUCH CREDIT IS CLAIMED, AND THE TAXPAYER HAS NOT PROVIDED SUCH BENEFITS TO ITS EMPLOYEES DURING ANY PRIOR TAXABLE YEAR. THE CREDIT SHALL BE EQUAL TO FIFTY DOLLARS FOR EACH EMPLOYEE OF THE TAXPAYER WHO ELECTED TO PARTICIPATE IN THE TAXPAYER'S FEDERAL QUALIFIED TRANSPORTATION FRINGE BENEFITS PROGRAM DURING THE TAXABLE YEAR IN WHICH SUCH PROGRAM IS ESTABLISHED BY THE TAXPAYER. THE AMOUNT OF THE CREDIT GRANTED TO ANY TAXPAYER PURSUANT TO THIS SECTION SHALL NOT EXCEED FIFTY THOUSAND DOLLARS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08329-02-6
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