Bill > A05421

This bill requires the New York State Senate finance committee and assembly ways and means committee to prepare detailed fiscal impact statements for "qualifying bills" - legislation that establishes, eliminates, or significantly changes state programs or results in revenue or expense changes. These fiscal impact notes must provide objective calculations of anticipated economic impacts for the three fiscal years following bill adoption, including estimated costs or savings for the state and affected political subdivisions (which are defined as counties, cities, towns, villages, special districts, school districts, and their agencies). The committees can estimate these impacts by examining individual political subdivisions, aggregates of subdivisions, representative subdivisions with similar characteristics, or other appropriate groupings. The fiscal impact statements must be attached to bills before legislative consideration and can report impacts in monetary units, services, personnel, equipment, or other measurable units. Importantly, inaccuracies in the estimates will not invalidate the bill, and certain types of bills are exempt from this requirement, such as those with special home rule requests or those providing only discretionary authority to political subdivisions. The bill will take effect on the first of January following its passage into law.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A5421