What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
1 Co-sponsor
History
- Referred to investigations and government operations
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Grants a personal income tax credit for 20% of the tolls paid by the taxpayer to the port authority of New York and New Jersey
In Assembly Committee · Ways And Means · Sponsor Michael Cusick
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6140 REVISED 06/07/12
Title of bill
An act to amend the tax law, in relation to establishing a personal income tax credit for certain tolls and fares paid for the use of transportation facilities operated by the port authority of New York and New Jersey
Purpose
To grant a personal income tax credit for 20% of the tolls paid by a taxpayer to the Port Authority of New York and New Jersey.
Summary of provisions
This bill amends section 606 of the tax law by adding a new subsection (uu) granting a Port Authority toll credit.
Justification
In 2011, the Port Authority dramatically raised tolls and fares on Staten Island's three bridges and the busiest entries into New York City. These increases only punish commuters, especially those who live on Staten Island. These increases unfairly hit businesses and residents of Staten Island who must pay tolls to get on and off the Island. This bill will provide taxpayers with a means to defray a portion of the increased travel related costs resulting from the toll and fare hikes authorized by the Board of Commissioners of the Port Authority of New York And New Jersey on August 19, 2011 and subsequently approved by the Governors of New York and New Jersey. The toll and fare hike have significantly increased the cost to commute at a time when New York taxpayers can least afford the additional expense.
Legislative history
New Bill.
Fiscal implications
The Department of Taxation and Finance estimates that this proposal would decrease revenues by $55 million in SFY 2012-13 and $220 million in SFY 2013-14. However, commuter data from the U.S. Census Bureau reveals that approximately eighty percent of the benefit of the credit would go to full-year nonresidents from New Jersey who commute into New York City.
Effective date
This act shall take effect immediately and shall apply to tax years commencing on or after January 1, 2012.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.