NY A01944

Establishes a qualified transportation fringe benefits program allowing covered employers (those with 20+ employees per week, excluding government entities) to offer pre-tax commuting benefits to covered employees (those working 10+ hours per week).

Defines qualified transportation fringe benefits to include commuter highway vehicle transportation, transit passes, qualified parking, and qualified bicycle commuting reimbursement, with limits based on Internal Revenue Code Section 132(f) maximums.

Permits three types of employer benefit programs: pre-tax election programs for employee commuting costs, employer-paid transit pass or commuter vehicle reimbursement programs, and employer-provided transit in commuter vehicles or buses at no cost to employees.

Requires the duly authorized officer with jurisdiction over transportation issues in each municipality to promulgate rules and regulations implementing the program and maintain an education program to assist employers.

Allows employers a full tax deduction for qualified transportation fringe benefit expenses under Tax Law Sections 615 and 208, effective for taxable years beginning January 1, 2024.