senate Bill S408

2011-2012 Legislative Session

Requires governor to perform cost benefit analysis of tax expenditures

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 12, 2012 committee discharged and committed to rules
Feb 21, 2012 notice of committee consideration - requested
Jan 04, 2012 referred to finance
May 02, 2011 defeated in finance
Mar 18, 2011 notice of committee consideration - requested
Jan 05, 2011 referred to finance

Votes

view votes

May 2, 2011 - Finance committee Vote

S408
12
18
committee
12
Aye
18
Nay
3
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Finance committee vote details

Co-Sponsors

S408 - Details

Law Section:
Executive Law
Laws Affected:
Amd §181, Exec L
Versions Introduced in 2009-2010 Legislative Session:
S7347

S408 - Summary

Requires governor to preform cost benefit analysis of tax expenditures.

S408 - Sponsor Memo

S408 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   408

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sens.  KRUEGER,  MONTGOMERY,  SERRANO  -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Finance

AN  ACT to amend the executive law, in relation to cost benefit analysis
  of tax expenditures

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision  1  of  section  181  of the executive law is
amended by adding three new paragraphs (c),  (d)  and  (e)  to  read  as
follows:
  (C)  "COST  BENEFIT ANALYSIS" SHALL MEAN, FOR TAX EXPENDITURES CLAIMED
BY TAXPAYERS SUBJECT TO ARTICLES NINE (OTHER THAN  SECTION  ONE  HUNDRED
EIGHTY),  NINE-A, THIRTEEN-A, TWENTY-EIGHT, THIRTY-TWO, AND THIRTY-THREE
OF THE TAX LAW, A METHOD OF DETERMINING A TAX EXPENDITURE'S  BENEFIT  TO
NEW  YORK  STATE  BASED ON THE TAX EXPENDITURE RECIPIENT'S PROJECTED JOB
CREATION OR JOB RETENTION AND/OR INVESTMENT  IN  THE  STATE  VERSUS  THE
TOTAL  AMOUNT  OF  REVENUES  FOREGONE UNDER THE TAX EXPENDITURE. FOR TAX
EXPENDITURES CLAIMED BY TAXPAYERS SUBJECT  TO  ARTICLES  TWENTY-TWO  AND
THIRTY-ONE  OF  THE TAX LAW, "COST BENEFIT ANALYSIS" SHALL MEAN A METHOD
OF DETERMINING A TAX EXPENDITURE'S BENEFIT TO NEW YORK  STATE  BASED  ON
THE AMOUNT OF TAX RELIEF A TAX EXPENDITURE PROVIDES TO PARTICULAR CLASS-
ES OF PERSONS OR ENTITIES.
  (D) "COST BENEFIT ANALYSIS RATIO" SHALL MEAN THE RATIO CALCULATED BY A
COST BENEFIT ANALYSIS OF A TAX EXPENDITURE.
  (E)  "COST  BENEFIT ANALYSIS TARGET RATIO" SHALL MEAN THE COST BENEFIT
ANALYSIS RATIO LEVEL THAT THE GOVERNOR DEEMS TO REFLECT A  TAX  EXPENDI-
TURE'S  ADEQUATE  LEVEL  OF  BENEFIT  TO NEW YORK STATE WHEN TAKING INTO
CONSIDERATION THE AMOUNT OF REVENUES THE STATE FOREGOES BECAUSE OF A TAX
EXPENDITURE AND THE  AMOUNT  OF  TAX  RELIEF  OR  JOB  CREATION  OR  JOB

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00741-01-1

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