New York S01320 amends tax and finance laws to adjust fund transfers for the Metropolitan Transportation Authority and public transportation system.

New York S01320 amends the tax law to redefine transportation services to include those provided by transportation network companies. It also amends the state finance law to direct the comptroller to transfer funds from the general fund into the Metropolitan Transportation Authority aid trust account and the public transportation system operating assistance account. For the fiscal year ending March 31, 2025, the transfer is set at ten million dollars, with subsequent years receiving an amount equal to fifty percent of the gross receipts of state sales and compensating use taxes.

New York S01320 amends tax and finance laws to adjust fund transfers for the Metropolitan Transportation Authority and public transportation system.

New York S01320 amends the tax law to redefine transportation services to include those provided by transportation network companies. It also amends the state finance law to direct the comptroller to transfer funds from the general fund into the Metropolitan Transportation Authority aid trust account and the public transportation system operating assistance account. For the fiscal year ending March 31, 2025, the transfer is set at ten million dollars, with subsequent years receiving an amount equal to fifty percent of the gross receipts of state sales and compensating use taxes.