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Sponsor's memo
BILL NUMBER:A10011
Title of bill
An act to repeal part C of chapter 25 of the laws of 2009 amending the tax law and the administrative code of the city of New York, relating to the metropolitan commuter transportation mobility tax, relating thereto
Purpose or general idea of bill
To repeal the Metropolitan Commuter Transportation Mobility Tax (MCTMT) or payroll tax.
Summary of specific provisions
Section 1 repeals Chapter 25 of the Laws of 2009, relating to the Metropolitan Commuter Transportation Mobility Tax.
Section 2 provides for the effective date.
Justification
The MCTMT imposes an unnecessary burden on individuals and businesses within the MTA region to subsidize the MTA's fiscal mismanagement. As we have seen time and time again, increasing taxes kills both jobs and economic development.
This tax disproportionately affects business and individuals in the counties outside of New York City, because even though the City accounts for 90% of weekday MTA ridership, all counties within the MTA are being taxed at the same rate regardless of their ridership.
When this tax was first enacted it was estimated to generate $1.5 billion in tax revenue for the MTA, however as with many other tax increases enacted in the last few years, this tax has not generated what was estimated. In fact it is estimated that this tax will bring in $300 million less than originally anticipated. This is a true testament to the fiscal crisis the State and the MTA region are experiencing; we have truly reached the point of over saturation of the tax base.
This bill would immediately repeal this tax and undo this unfunded mandate placed on employers in the MTA region.
Prior legislative history
New bill.
Fiscal implications
None to the State, A loss of approximately $1.2 billion in annual revenue to the MTA.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.