N.Y. Legislative Law § 52: Requirements with respect to bills affecting tax expenditures

§ 52. Requirements with respect to bills affecting tax expenditures.

1. For purposes of this section, the terms "tax expenditures" and "cost

of tax expenditure" shall have the same meanings that they have in

section one hundred eighty-one of the executive law.

2. Tax expenditure impact statement. In addition to any other fiscal

note required, a bill that enacts or amends any tax expenditures shall

be accompanied by an impact statement consisting of a fiscal note

separately stating the estimated cost of the tax expenditures in the

bill (a) for the first year it is to be in effect and (b) for the next

succeeding year, as well as a statement of the public purpose to be

served by such tax expenditures, unless the legislature affirmatively

sets forth that no such public purpose statement is required.

3. Hearings. Hearings held by the legislature pursuant to article

seven of the constitution shall include sufficient time for discussion

and review of tax expenditures.

4. Joint report. The chairmen of the fiscal committees shall issue a

joint report on the governor's annual tax expenditure report. Such joint

report shall include: a summary of the legislature's action on any

recommendations by the governor to continue, modify or repeal any tax

expenditures; a summary of any legislative initiative to continue,

modify or repeal any tax expenditures; and any revisions in the

estimated costs of any tax expenditures included in the tax expenditure

report submitted pursuant to section one hundred eighty-one of the

executive law.