§ 52. Requirements with respect to bills affecting tax expenditures.
1. For purposes of this section, the terms "tax expenditures" and "cost
of tax expenditure" shall have the same meanings that they have in
section one hundred eighty-one of the executive law.

2. Tax expenditure impact statement. In addition to any other fiscal
note required, a bill that enacts or amends any tax expenditures shall
be accompanied by an impact statement consisting of a fiscal note
separately stating the estimated cost of the tax expenditures in the
bill (a) for the first year it is to be in effect and (b) for the next
succeeding year, as well as a statement of the public purpose to be
served by such tax expenditures, unless the legislature affirmatively
sets forth that no such public purpose statement is required.

3. Hearings. Hearings held by the legislature pursuant to article
seven of the constitution shall include sufficient time for discussion
and review of tax expenditures.

4. Joint report. The chairmen of the fiscal committees shall issue a
joint report on the governor's annual tax expenditure report. Such joint
report shall include: a summary of the legislature's action on any
recommendations by the governor to continue, modify or repeal any tax
expenditures; a summary of any legislative initiative to continue,
modify or repeal any tax expenditures; and any revisions in the
estimated costs of any tax expenditures included in the tax expenditure
report submitted pursuant to section one hundred eighty-one of the
executive law.