|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Apr 24, 2014||referred to finance|
senate Bill S7083
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S7083 - Details
S7083 - Sponsor Memo
BILL NUMBER:S7083 TITLE OF BILL: An act to amend the executive law, in relation to cost benefit analysis of tax expenditures PURPOSE: This legislation proposes to require the Governor to provide in the annual Tax Expenditure Report more information -- including cost/benefit analyses that better gauges the effectiveness and efficiency of each tax expenditure. SUMMARY OF PROVISIONS: § 1. Amends subdivision 1 of section 181 of the Executive Law to include the following definitions: 1. "Cost benefit analysis" 2. "Cost benefit analysis ratio" 3. "Cost benefit analysis target ratio" § 2. Amends subdivision 2 of section 181 of the Executive Law to include: 1. A cost/benefit analysis of each tax expenditure; 2. A comparison between each tax expenditures cost benefit analysis ratio and the tax expenditure's target ratio, along with an explanation for any difference between the two ratios.
S7083 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7083 I N S E N A T E April 24, 2014 ___________ Introduced by Sen. KRUEGER -- 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 RETENTION OR INVESTMENT IN THE STATE PROVIDED OR SUPPORT BY THE TAX EXPENDITURE. S 2. Paragraphs (f) and (g) of subdivision 2 of section 181 of the executive law, as added by chapter 23 of the laws of 1990, are amended and five new paragraphs (h), (i), (j), (k) and (l) are added to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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