Int 0351-1998

Int. No. 351 By The Speaker (Council Member Vallone) and Council Members Dear, Cruz and Leffler A Local Law To amend the administrative code of the city of New York, in relation to allowing city employees to use pre-tax earnings to purchase qualified transportation benefits in accordance with Federal law. Be it enacted by the Council as follows: Section 1. Chapter 1 of title 12 of the administrative code of the city of New York is amended by adding a new section 12-139 to read as follows: §12-139 Election of qualified transportation benefits in lieu of taxable dollar compensation. Employees of the city of New York shall be permitted to use pre-tax earnings to purchase qualified transportation benefits in accordance with federal law and shall thereupon be entitled to such personal income tax benefits as may be authorized by such law. The comptroller and the office of payroll administration shall promulgate rules necessary for the implementation and administration of this section. §2. This local law shall take effect immediately. CHS:nd\M:\Carlsmith\Int\City employees pre-tax earnings 7/15/98 10:25 am