Bill > S00085

This bill amends the legislative law to enhance transparency and information requirements for fiscal notes on bills related to retirement systems and political subdivisions. Specifically, the bill requires that fiscal notes for retirement bills now include not just the estimated annual cost to employers, but also a statement identifying who provided the cost estimate. For bills affecting political subdivisions, the bill mandates more comprehensive fiscal notes that detail estimated costs or savings for the state and affected political subdivisions over five years, including the source of the estimate and any compensation received by the source. The bill expands the definition of "political subdivision" to include additional entities like colleges, universities, and state agencies, and requires fiscal notes to be prepared by legislative committees for bills that would substantially affect revenues or expenses by at least $250,000. The bill also specifies that fiscal impact measurements can be made in various units such as money, personal services, equipment, or other appropriate measurements. Importantly, the bill stipulates that inaccuracies in fiscal notes will not invalidate the bill itself, providing flexibility while still promoting more detailed financial analysis of proposed legislation.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S85