NYC 9/11 Public Portal Document
Financial Impact of Recent State Actions
Dollars in millions
2002 2003 2004 2005
Repeal of Commuter Tax $430 $498 $514 $543
Permanent Pension COLA Increases 236 363 480 586
SFY00-01 Budget Actions* 88 88 88 88
State Imposed Tax Reduction ** 31 63 110 200
Subtotal: Recent State Actions $785 $1,012 $1,192 $1,417
Elimination of Stock Transfer
Incentive Fund Payment $228*** $114 $114 $114
Grand Total: $1,013 $1,126 $1,306 $1,531
* Includes Increase in Rent Stabilization Fees, Loss of Revenue Sharing Increase and PIT Administration.
Includes Cost of Phase Out of Sales Tax on Utility Transmission and Distribution.
*** Includes Impact of 2001 Reduction.
NYC-WTC 000136388
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