Bill
Bill > A07264
NY A07264
NY A07264Establishes a qualified transportation fringe benefits program; allows for an itemized deduction for the full amount of expenses for any qualified transportation benefit provided to an employee of the taxpayer.
summary
Introduced
04/18/2019
04/18/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the labor law and the tax law, in relation to establishing a qualified transportation fringe benefits program The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill establishes a qualified transportation fringe benefits program, which allows covered employers (those with 20 or more employees) to provide certain transportation benefits to their covered employees (those working at least 10 hours per week). The benefits include a pre-tax election program for transit passes, commuter highway vehicle charges, qualified parking, and qualified bicycle commuting reimbursement. The bill also allows for an itemized deduction for the full amount of expenses for any qualified transportation fringe benefit provided to an employee by the taxpayer. The bill's provisions are set to take effect on various dates, with the transportation benefits program becoming effective 120 days after the bill becomes law, and the tax deductions applying to taxable years beginning on or after January 1, 2020.
Committee Categories
Labor and Employment
Sponsors (2)
Last Action
referred to labor (on 01/08/2020)
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