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Who cares
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Sponsors
12 Co-sponsors
5 Multi-sponsors
History
- Held for consideration in ways and means
- Referred to ways and means
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10399
Title of bill
An act to amend 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, in relation to the applicability of such tax
Purpose or general idea of bill
This bill provides a sunset date of December 31, 2010 for the Metropolitan Commuter Transportation Mobility Tax (MCTMT).
Summary of specific provisions
This bill provides a sunset date of December 31, 2010 for the Metropolitan Commuter Transportation Mobility Tax (MCTMT). Part C of Chapter 25 of the Laws of 2009 established the MCTMT or MTA Payroll Tax, which is imposed at a rate of .34% of an employer's payroll expense for all covered employees in each calendar quarter.
Justification
The MCTMT imposes an unnecessary burden on individuals and businesses within the MTA region to subsidize the MTA's fiscal mismanagement. Additionally, this tax disproportionately affects busi- ness and individuals in the counties outside. of New York City, because even though the City accounts for 90% of weekday MTA ridership, they are being taxed at the same rate.
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.