Bill Text: NY S01560 | 2019-2020 | General Assembly | Introduced

---

Bill Title: Directs the commissioner of taxation and finance to utilize a third-party evaluator for investigating the effectiveness of state tax incentives.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2020-08-11 - RECOMMIT, ENACTING CLAUSE STRICKEN [S01560 Detail]

Download: New_York-2019-S01560-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                          1560
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 15, 2019
                                       ___________
        Introduced  by  Sen.  JACOBS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment Operations
        AN ACT to direct the commissioner of taxation and finance to  utilize  a
          third-party evaluator for investigating the effectiveness of state tax
          incentives
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. The commissioner of taxation and finance  shall  utilize  a
     2  third-party  evaluator  to prepare reports, pursuant to the schedule set
     3  forth in section two of this act, which shall include the following:
     4    (a) a listing and description of tax exemption, abatement,  credit  or
     5  other  benefits  allowed  against state tax liability for the purpose of
     6  spurring economic development, whether against the rate of the tax,  the
     7  subject on which the rate is applied or the payment amount due;
     8    (b)  the eligibility requirements for, and general objectives of, each
     9  such tax benefit;
    10    (c) aggregate data regarding utilization of each such tax benefit. For
    11  benefits with respect to which taxpayers  are  eligible  to  carry  over
    12  benefits  into  future tax years, aggregate amounts carried over per tax
    13  benefit shall be identified;
    14    (d) the total amount  of  tax  benefits  received  by  taxpayers  with
    15  respect to each such tax benefit;
    16    (e) an assessment, including such data and supporting documentation as
    17  is  meaningful  and  available, regarding the economic effectiveness and
    18  other consequences of the provision of such tax benefit currently and as
    19  anticipated going forward;
    20    (f) an analysis of similar incentives and benefits provided  in  other
    21  states and cities, including an assessment of the success of such incen-
    22  tives  in  such  states and cities in comparison with comparable current
    23  state programs; and
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05786-01-9
        S. 1560                             2
     1    (g) recommendations as to which state incentives and  benefits  should
     2  be maintained, changed or eliminated in order to best promote the objec-
     3  tives of the state with respect to the use of such programs.
     4    §  2.  The first report shall be a fully comprehensive report covering
     5  all tax incentive and exemption programs in effect as of  the  first  of
     6  January preceding the effective date of this act, and shall be submitted
     7  to  the  legislature  no  later  than the first of January following the
     8  effective date of this act.   A  report  evaluating  materially  changed
     9  state  incentives  and benefits, and any other materially changed condi-
    10  tions, shall be provided every  three  years  to  the  legislature  with
    11  respect to the period since the last report.
    12    §  3. This act shall take effect one year after it shall have become a
    13  law.