Section 201-C - Qualified transportation fringe benefit program for employees of the city university of New York1. The city university of New York is authorized to establish a qualified transportation fringe benefit program consistent with section 132 of the internal revenue code and regulations adopted pursuant thereto.2. Following the establishment of a qualified transportation fringe benefit program as authorized by subdivision one of this section, employees of the city university 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.N.Y. State Fin. Law § 201-C