2023 New York Laws › EXC - Executive › Article 8 - Division of Budget › 181 - Tax Expenditure Reporting.

§ 181. Tax expenditure reporting. 1. Definitions.  For the purposes of
this section, the following definitions shall apply:
(a)  "Tax  expenditures"  shall  mean  features of the tax law that by
exemption, exclusion, deduction,  allowance,  credit,  preferential  tax
rate,  deferral,  or  other  statutory  device,  reduce  the  amount  of
taxpayers'  liabilities  to  the  state  by  providing  either  economic
incentives  or  tax relief to particular classes of persons or entities,
to achieve a public purpose.
(b) "Cost of tax expenditure"  shall  mean  the  aggregate,  estimated
amount  by which a tax expenditure reduces taxpayers' liabilities to the
state on a taxable year basis, or on a calendar year basis if a  taxable
year basis is not appropriate.
2.  Annual  tax  expenditure  report.  In  addition to the information
required by article seven of the constitution and section twenty-two  of
the  state finance law, the governor shall submit to the legislature, as
early as practicable, but no later than thirty days after submitting the
budget, a tax expenditure report containing  the  following  information
and statements relating to tax expenditures in articles nine (other than
section   one   hundred   eighty),   nine-A,   thirteen-A,   twenty-two,
twenty-eight, thirty-one, thirty-two and thirty-three of the tax law:
(a) an enumeration of such tax expenditures;
(b) the provisions of law authorizing  such  tax  expenditures,  their
effective  dates,  and,  if  applicable,  the  dates  on  which such tax
expenditures expire or are reduced;
(c)  if  reliable  data  are  available,  estimates  prepared  by  the
commissioner  of  taxation and finance, in conjunction with the director
of the budget, of the cost of such tax expenditures for the (i)  current
taxable or calendar year and (ii) the five preceding years;
(d)   any   recommendations  of  the  governor  regarding  continuing,
modifying,  or  repealing  such  tax  expenditures,   and   such   other
information  regarding tax expenditures as the executive may feel useful
and appropriate;
(e) if the governor's budget includes proposals  for  the  expiration,
modification,  or repeal of such tax expenditures or for the addition of
tax expenditures in or to such articles or such law, such  report  shall
also  contain, to the extent reliable data are available, an analysis of
the number and types of persons and entities benefiting or  expected  to
benefit from such tax expenditures, an estimate of the costs of such tax
expenditures  for  the  coming  fiscal  year,  and an explanation of the
reasons for the proposals;
(f) comment, if any, on the effectiveness and efficiency of other  tax
expenditures; and
(g)  general  cautionary  and advisory notes concerning limitations of
data,  estimation  procedures,  sampling  errors  and  imputed   values,
prominently displayed.
3.  Any  information  relating  to  tax  expenditures furnished by the
commissioner of taxation and finance shall be  furnished  in  accordance
with the secrecy provisions of the tax law.