Budget & Taxes (Audits & Accountability)

in committee · New York · Senate Jan 7, 2026

S 5412: Establishes limitations upon real property tax levies in N.Y. city

This bill limits annual increases in property taxes for New York City (the only city in New York State with over 1 million residents). It sets a cap on how much the city can raise property taxes each year, based on either the inflation rate or a fixed 1.02% growth factor, whichever is lower. The cap allows cities to carry over unused tax room from previous years (up to 1.5% of the limit) and excludes certain capital projects and legal settlements from the calculation. The law takes effect for the 2026 fiscal year, requiring the state comptroller to calculate and notify the city of the annual tax levy limit.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill caps NYC property tax increases at inflation or 1.02%, restricting tax levies and limiting government revenue growth through annual tax hike restrictions.90% confidence

Sub-Topics Audits & Accountability Property Tax

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in committee · New York · Senate Jan 7, 2026

S 657: Requires governor to perform cost benefit analysis of tax expenditures

This bill requires New York's governor to conduct annual cost-benefit analyses of tax breaks (tax expenditures) in the state budget. It mandates evaluating whether each tax break creates jobs, retains workers, or encourages investment in New York compared to the revenue the state loses by offering it. The governor must compare each tax break's actual results to a predetermined "target ratio," explain the analysis method, and assess if the tax break still serves its original purpose. This applies to all tax breaks under specific sections of New York's tax law and directly affects how the state evaluates existing tax policies.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates annual cost-benefit analysis of tax expenditures to ensure fiscal responsibility and prevent wasteful spending by evaluating job creation, investment, and revenue impact.90% confidence

Sub-Topics Audits & Accountability State Budget Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3379: Requires legislative fiscal impact notes to include objective calculations of anticipated economic impacts for next three years on state or subdivisions; repealer

Requires legislative fiscal impact notes to include objective calculations of anticipated economic impacts for next three years on state or political subdivisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates objective economic impact calculations in fiscal notes, promoting fiscal responsibility and transparency in budgeting processes.90% confidence

Sub-Topics Audits & Accountability State Budget

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in committee · New York · Senate Jan 7, 2026

S 5927: Creates the non-partisan legislative budget office

Creates the non-partisan legislative budget office; directs such office shall provide information to legislative committees of the senate and assembly with respect to the state budget, appropriation bills and other bills providing budget authority or tax expenditures; requires such office to report to the temporary president of the senate, the senate minority leader, the speaker of the assembly and the assembly minority leader.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates non-partisan budget office to provide fiscal analysis on appropriations and tax expenditures, promoting transparent budget management and accountability.85% confidence

Sub-Topics Audits & Accountability State Budget

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in committee · New York · Senate Jan 7, 2026

S 1561: Relates to eligibility to assume office for certain elected officials owing past-due tax liabilities

This bill requires state legislators and statewide elected officials (such as governor, comptroller, or attorney general) to obtain tax clearance from New York's Department of Taxation before taking office. It mandates that individuals with unpaid, non-appealable tax debts must resolve them or establish a payment plan within six months of election. If unresolved after six months, a special election is triggered to fill the vacant position. The law defines "past-due tax liabilities" as unpaid taxes with no remaining right to administrative or judicial review.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates tax clearance for officials, promoting fiscal responsibility in tax compliance and accountability.90% confidence

Sub-Topics Audits & Accountability

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in committee · New York · Senate Jan 7, 2026

S 5380: Requires introducer's memorandum to include a statement of fiscal impact affecting political subdivisions

This bill (S 5380) requires that every bill submitted to the legislature include a specific statement in its introducer's memorandum detailing how the bill would affect local government budgets. It directly affects political subdivisions like counties, cities, towns, and school districts by mandating that bill sponsors explain the financial impact on these local entities. The key provision adds a new requirement to legislative law, forcing sponsors to explicitly state the fiscal consequences for local governments before a bill can be formally introduced. This change aims to provide transparency about budgetary effects early in the legislative process. The bill does not alter policy content but changes the documentation required for bill introductions.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires fiscal impact statements for local budgets, promoting transparency and fiscal responsibility in legislative spending.85% confidence

Sub-Topics Audits & Accountability State Budget

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in committee · New York · Assembly Jan 7, 2026

A 7530: Establishes a spending cap and increases the maximum capacity of the rainy day fund

This bill establishes a new annual spending growth cap for state operating funds, directly affecting the governor and legislature when creating budgets. The cap limits yearly increases in state spending to the average inflation rate from the prior three years (calculated using the Consumer Price Index). It requires the governor to certify budget compliance and gives the comptroller authority to verify limits, with exceptions only for emergencies declared by the governor and approved by a two-thirds legislative vote. The bill does not change the rainy day fund's capacity, as the title's mention of that detail isn't elaborated in the actual provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes spending cap tied to inflation, promoting fiscal responsibility by limiting annual budget growth to average inflation rate.92% confidence

Sub-Topics Audits & Accountability Government Spending State Budget

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in committee · New York · Senate Jan 7, 2026

S 2374: Provides for funding for the consolidated local street and highway improvement program

This bill redirects 4% of online sales tax revenue - including taxes collected from marketplace providers like Amazon - to fund local street and highway projects through the CHIPS program. It requires the comptroller to deposit these funds into a dedicated infrastructure account before distributing other tax funds. The program directly supports local governments undertaking road and highway improvements, using revenue generated from online retail transactions. The funding mechanism is effective January 1, 2026, and expires three years later. (Note: CHIPS = Consolidated Local Street and Highway Improvement Program.)

Topics ✓ Budget & TaxesSupports Budget & TaxesRedirects 4% of online sales tax revenue to fund infrastructure projects via dedicated account, directly allocating tax funds to public works programs.95% confidence ✓ TransportationSupports TransportationRedirects 4% online sales tax to fund local street/highway projects via CHIPS program, directly advancing transportation infrastructure funding.95% confidence

Sub-Topics Audits & Accountability Revenue Sales Tax Roads & Highways Transportation Funding

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in committee · New York · Senate Jan 7, 2026

S 4993: Requires certain agreements be included in the synopsis of requests for appropriations for the state budget

Requires written agreements between the governor and the legislature that relate to any budget appropriations be included in the synopsis of requests for appropriations for the state budget and published on the public website of the division of the budget.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires transparency in budget agreements, promoting fiscal accountability without altering funding levels or tax policies.95% confidence

Sub-Topics Appropriations Audits & Accountability State Budget

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