Assembly Bill A3729

2021-2022 Legislative Session

Requires governor to perform cost benefit analysis of tax expenditures

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2021-A3729 (ACTIVE) - Details

See Senate Version of this Bill:
S852
Current Committee:
Assembly Governmental Operations
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
2019-2020: A7738, S2515
2023-2024: S620

2021-A3729 (ACTIVE) - Summary

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

2021-A3729 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3729
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 28, 2021
                                ___________
 
 Introduced by M. of A. KIM -- read once and referred to the Committee on
   Governmental Operations
 
 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.
                                                            LBD03553-01-1
              

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