BILL NUMBER: S7349

SPONSOR: PARKER
 
TITLE OF BILL:

An act directing the New York state comptroller to conduct a feasibility
study on implementing a universal basic income program

 
PURPOSE:

This bill will authorize and direct the Office of the New York State
Comptroller to study and report on the feasibility of implementing a
universal basic income program in New York State.

 
SUMMARY OF PROVISIONS:

1. The act shall direct the Office of the New York State Comptroller to
study the feasibility of implanting a universal basic income program in
the State of New York. This study will analyze the effects of providing
a universal basic income to individuals and families making less than
$80,000 annually. The universal basic income program would consist of
providing $7,200 per individual, or $14,400 to couples/families. The
              

study will also evaluate the funding sources of such a program.

2. The state comptroller shall compile the findings of the report and
send it to the governor, the temporary president of the senate and the
speaker of the assembly.

3. This act shall take effect immediately.

 
JUSTIFICATION:

According to the US Census Bureau's latest data, approximately 14
percent of New York State's population lives in poverty. This alludes to
how many of the people in the state are struggling financially. In
today's times, many people are having to work multiple, low paying, and
unskilled jobs. Most times, there is no personal and professional growth
for these individuals in said jobs.

In the present day, there are over 500,000 residents across New York
State who receive some sort of public assistance. Which alludes to the
fact that, people's basic financial necessities are not being met in the
status quo. This helps address the issue of poverty in a direct way,
which is to provide money, which will cushion their financial burdens.

To this end, the data this study will be invaluable to the state govern-
ment's plan of action moving forward with a potential Universal Basic
Income Program.

 
LEGISLATIVE HISTORY:

2021-22: S.5890 - Referred to Investigations and Government Operations

2019-20: S.6691- Referred to Investigations and Gov't Ops.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.