Senate Bill S2515

2019-2020 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 Budget And Revenue Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-S2515 (ACTIVE) - Details

See Assembly Version of this Bill:
A7738
Current Committee:
Senate Budget And Revenue
Law Section:
Executive Law
Laws Affected:
Amd §181, Exec L
Versions Introduced in Other Legislative Sessions:
2009-2010: S7347
2011-2012: S408
2013-2014: S7083
2015-2016: S3080
2017-2018: S5015
2021-2022: S852, A3729
2023-2024: S620

2019-S2515 (ACTIVE) - Summary

Requires governor to perform a cost benefit analysis of tax expenditures.

2019-S2515 (ACTIVE) - Sponsor Memo

2019-S2515 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2515
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2019
                                ___________
 
 Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08609-01-9
              

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