20 Nov 2024
Joint –Public Hearing: To examine and evaluate the independent, comprehensive analysis – as required by NYS Tax Law § 180
Legislative Office BuildingVan Buren Hearing Room A, 2nd Floor 182 State Street , Albany, NY, 12247
11:00 AM Archived Video
Joint – Senate Standing Committee on Investigations and Government Operations
Chair: Senator James Skoufis
Senate Standing Committee on Finance
Chair: Senator Liz Krueger
Senate Standing Committee on Commerce, Economic Development & Small Business
Chair: Senator Sean Ryan
and Senate Standing Committee on Budget & Revenues
Chair: Senator Andrew Gounardes
Public Hearing: To examine and evaluate the independent, comprehensive analysis – as required by NYS Tax Law Section 180 – of each tax credit, deduction, and incentive that relates to increasing economic development within the state in order to solicit stakeholder feedback and develop a legislative response
Place: Van Buren Hearing Room A, Legislative Office Building, 2nd Floor, Albany, New York
Time: 11:00 A.M.
Contact: Yasmine Bouachri (518) 455-3295
Media Contact: Valerie Best (347) 861-4754
ORAL TESTIMONY BY INVITATION ONLY
SUBJECT: Economic Impacts of Tax Incentive Programs Relating to Economic Development
PURPOSE: To examine and evaluate the independent, comprehensive analysis – as required by NYS Tax Law § 180 – of each tax credit, deduction, and incentive that relates to increasing economic development within the state in order to solicit stakeholder feedback and develop a legislative response.
Section 180 of Article 8 of the New York State Tax Law tasked the Department of Taxation and Finance with arranging the completion of a third-party analysis of the tax credits, deductions, and incentives offered in New York State, which relate to economic development (i.e. increasing employment, developing the state’s workforce, and increasing business activity). This report was published on December 30, 2023. Accordingly, this hearing will seek input, recommendations, best practices, and general discussion from participants regarding this study in order to consider and advance relevant legislation and reform.
Persons wishing to present pertinent testimony to the Committees at the above hearing should complete and return the enclosed reply form as soon as possible. It is important that the reply form be fully completed and returned so that persons may be notified in the event of emergency postponement or cancellation.
Oral testimony will be limited to 10 minutes duration. Ten copies of any prepared testimony should be submitted at the hearing registration desk. The Committees would appreciate advance receipt of prepared statements.
Attendees and participants at any legislative public hearing should be aware that these proceedings are video recorded. Their likenesses may be included in any video coverage shown on television or the internet.
In order to meet the needs of those who may have a disability, the Committees, in accordance with their policy of non-discrimination on the basis of disability, as well as the 1990 Americans with Disabilities Act (ADA), have made their facilities and services available to all individuals with disabilities. For individuals with disabilities, accommodations will be provided, upon reasonable request, to afford such individuals access and admission to State Legislature facilities and activities.
