Bill > S04896

This bill establishes the Incentive Evaluation Act, which creates an Incentive Evaluation Commission tasked with systematically reviewing state economic incentives every four years. The commission will consist of eight members, including appointed experts like a certified public accountant, a financial analyst, an auditor, an economist, and a lay person, along with ex officio representatives from state agencies. Members are prohibited from having conflicts of interest, such as being employed by or owning a substantial interest in businesses receiving incentives. The commission will develop a four-year schedule to evaluate all state incentives, which may include tax credits, exemptions, grants, and loans designed to encourage business development and job creation in New York. For each incentive, the commission will assess its economic and fiscal impact, effectiveness, administrative efficiency, and goal achievement, and will provide recommendations about whether the incentive should be retained, modified, or eliminated. The commission will produce an annual report by December 15th detailing its evaluations and recommendations, which will be made publicly available and submitted to the governor and legislative leaders. The office of general services will provide administrative support, and the commission may contract with external experts to assist in its evaluations.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S4896