Bill > A03729

This bill amends the Executive Law to require the Governor to perform a cost-benefit analysis of tax expenditures claimed by taxpayers subject to various articles of the Tax Law. The cost-benefit analysis must determine the tax expenditure's benefit to New York State based on projected job creation or retention, investment in the state, and/or the amount of tax relief provided to particular classes of persons or entities, compared to the total amount of revenue foregone by the state due to the tax expenditure. The bill also requires the Governor to develop a cost-benefit analysis formula and determine a target ratio for each tax expenditure that reflects an adequate level of benefit to the state.