2010 New York Code
EXC - Executive
Article 8 - (180 - 181) DIVISION OF BUDGET
181 - Tax expenditure reporting.

§ 181. Tax expenditure reporting. 1. Definitions.  For the purposes of
  this section, the following definitions shall apply:
    (a)  "Tax  expenditures"  shall  mean  features of the tax law that by
  exemption, exclusion, deduction,  allowance,  credit,  preferential  tax
  rate,  deferral,  or  other  statutory  device,  reduce  the  amount  of
  taxpayers'  liabilities  to  the  state  by  providing  either  economic
  incentives  or  tax relief to particular classes of persons or entities,
  to achieve a public purpose.
    (b) "Cost of tax expenditure"  shall  mean  the  aggregate,  estimated
  amount  by which a tax expenditure reduces taxpayers' liabilities to the
  state on a taxable year basis, or on a calendar year basis if a  taxable
  year basis is not appropriate.
    2.  Annual  tax  expenditure  report.  In  addition to the information
  required by article seven of the constitution and section twenty-two  of
  the  state finance law, the governor shall submit to the legislature, as
  early as practicable, but no later than thirty days after submitting the
  budget, a tax expenditure report containing  the  following  information
  and statements relating to tax expenditures in articles nine (other than
  section   one   hundred   eighty),   nine-A,   thirteen-A,   twenty-two,
  twenty-eight, thirty-one, thirty-two and thirty-three of the tax law:
    (a) an enumeration of such tax expenditures;
    (b) the provisions of law authorizing  such  tax  expenditures,  their
  effective  dates,  and,  if  applicable,  the  dates  on  which such tax
  expenditures expire or are reduced;
    (c)  if  reliable  data  are  available,  estimates  prepared  by  the
  commissioner  of  taxation and finance, in conjunction with the director
  of the budget, of the cost of such tax expenditures for the (i)  current
  taxable or calendar year and (ii) the five preceding years;
    (d)   any   recommendations  of  the  governor  regarding  continuing,
  modifying,  or  repealing  such  tax  expenditures,   and   such   other
  information  regarding tax expenditures as the executive may feel useful
  and appropriate;
    (e) if the governor's budget includes proposals  for  the  expiration,
  modification,  or repeal of such tax expenditures or for the addition of
  tax expenditures in or to such articles or such law, such  report  shall
  also  contain, to the extent reliable data are available, an analysis of
  the number and types of persons and entities benefiting or  expected  to
  benefit from such tax expenditures, an estimate of the costs of such tax
  expenditures  for  the  coming  fiscal  year,  and an explanation of the
  reasons for the proposals;
    (f) comment, if any, on the effectiveness and efficiency of other  tax
  expenditures; and
    (g)  general  cautionary  and advisory notes concerning limitations of
  data,  estimation  procedures,  sampling  errors  and  imputed   values,
  prominently displayed.
    3.  Any  information  relating  to  tax  expenditures furnished by the
  commissioner of taxation and finance shall be  furnished  in  accordance
  with the secrecy provisions of the tax law.