Budget & Taxes (State Budget)

in committee · New York · Senate Jan 7, 2026

S 1979: Requires detailed fiscal impact notes on certain legislation

Requires detailed fiscal impact notes on certain legislation stating the estimated annual cost to the political subdivision affected and the source of such estimate; provides that bills will be invalidated if the funding source is not provided or the fiscal impact results in an annual net additional cost in excess of $10,000.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires fiscal impact notes to prevent unfunded mandates, promoting budget accountability and responsible spending by ensuring funding sources are provided.95% confidence

Sub-Topics Appropriations Audits & Accountability State Budget

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in committee · New York · Assembly Jan 7, 2026

A 2258: Relates to the tax stabilization reserve fund

This bill increases the maximum percentage of state budget surplus that can be deposited into the tax stabilization reserve fund from 2% to 4% of the state's annual revenue target ("norm"). It directly affects how the state manages budget surpluses and potential shortfalls: if tax revenues fall below the norm, funds can be drawn from the reserve to cover the gap, with repayment rules remaining unchanged. The key mechanism allows more surplus money to be saved in the reserve fund during years of budget surpluses, while still permitting the remaining surplus to be used for tax reductions. The change takes effect three years after the bill becomes law.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases reserve fund capacity to manage surpluses and cover revenue shortfalls, promoting fiscal responsibility per budget management indicators.95% confidence

Sub-Topics Revenue State Budget

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in committee · New York · Senate Jan 7, 2026

S 3438: Relates to enacting a balanced budget requirement and creates the New York state governmental accounting review board

This bill requires New York State to balance its annual budget (excluding capital projects) starting April 1, 2026, using standard accounting principles. It creates the New York State Governmental Accounting Review Board to help the governor and legislature implement this requirement, handle requests for budget exemptions, and manage transitions if compliance would disrupt essential services. The board, composed of five accounting experts appointed by the governor, will review budget submissions and ensure they align with generally accepted accounting principles. This directly affects how the state government prepares and passes its annual budget, requiring all revenue and expenditure estimates to be reported under standardized accounting rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires balanced budget starting 2026, promoting fiscal responsibility through mandatory accounting standards and oversight board.95% confidence

Sub-Topics Audits & Accountability Debt & Bonds State Budget

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in committee · New York · Assembly Jan 7, 2026

A 7524: Relates to lump sum appropriation allocation reform

Relates to establishing the lump sum allocation advisory committee (Part A); relates to requiring transparency, identification and disclosure of certain appropriations (Part B); relates to withholding the salaries of the governor, agency commissioners and deputy commissioners for failing to meet certain reporting deadlines (Part C); relates to creating a tax rate reduction board to look at personal income tax and corporate franchise tax rates (Part D); relates to conducting an audit of all state economic development programs (Part E); relates to prohibiting certain political contributions by individuals appointed to entities that oversee lump sum appropriations (Part F); relates to prohibiting certain third party contracts (Part G).

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax rate reduction board for personal income/corporate taxes, indicating direct support for tax relief measures under Budget & Taxes.90% confidence

Sub-Topics Appropriations Audits & Accountability State Budget

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in committee · New York · Senate Jan 7, 2026

S 472: Enacts the "truth in spending act"

S 472, the "Truth in Spending Act," requires state officials to disclose details before funding allocations. It mandates that governors and legislators requesting funds provide a project description, sign a conflict-of-interest form (if they received $4,000+ in donations from the recipient in the past five years), and confirm no conflicts exist. The bill also requires public posting of all funding details - including recipient names, project descriptions, and requesting officials - 72 hours before budget approval, and obligates recipients to certify proper fund use under penalty of perjury. These provisions directly affect state lawmakers, the governor, and organizations seeking state funding, aiming to increase transparency in how public money is distributed.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires disclosure and conflict checks for funding, promoting fiscal transparency and accountability in budget allocation.95% confidence

Sub-Topics Appropriations Audits & Accountability State Budget Tags Government Transparency

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in committee · New York · Assembly Jan 7, 2026

A 4301: Creates the legislative office of fiscal transparency; requires fiscal notes on proposed rules and executive orders affecting political subdivisions

Creates the legislative office of fiscal transparency; requires fiscal notes on proposed rules and executive orders affecting political subdivisions; requires legislative committee approval of certain proposed rules; requires the comptroller to make monthly reports to the legislative office of fiscal transparency.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires fiscal notes and establishes transparency office to enhance budget oversight, promoting fiscal responsibility per topic indicators.90% confidence

Sub-Topics Audits & Accountability State Budget Tags Government Transparency

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in committee · New York · Assembly Jan 7, 2026

A 2255: Relates to the sufficiency of itemization in the state budget

Relates to the sufficiency of itemization in the state budget; requires budget bills to clearly reference the section in the accompanying bill or bills where the corresponding appropriation or reappropriation can be located and requires that the legislature not act upon bills that neglect to do so.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires clear budget itemization references to enhance transparency and accountability, promoting fiscal responsibility in appropriations process.85% confidence

Sub-Topics Appropriations State Budget

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in committee · New York · Assembly Jan 7, 2026

A 557: Requires the budget submitted by the governor to include an itemization, by each individual school district, of appropriations for the support of school districts

Requires the budget submitted by the governor to include an itemization, by each individual school district, of appropriations for the support of school districts.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires detailed school district budget itemization, promoting fiscal transparency and accountability in state spending.85% confidence

Sub-Topics Appropriations State Budget

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in committee · New York · Senate Jan 7, 2026

S 6663: Withholds the salary of the governor and members of the legislature if the budget is late until final ratification of the budget

Withholds the salary of the governor and members of the legislature if the budget is late until final ratification of the budget; forfeits withheld salary.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnforces timely budget passage via salary withholdings, promoting fiscal accountability and responsible budget management per topic definition.95% confidence

Sub-Topics State Budget

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in committee · New York · Assembly Jan 7, 2026

A 4771: Relates to withholding the governor and lieutenant governor's salaries until the legislative passage of the budget occurs

This bill requires that the governor and lieutenant governor's bi-weekly salary payments be withheld if the legislature has not passed a budget by the start of a fiscal year. Payments resume and any withheld amounts are paid in full once the budget is approved. The bill defines "legislative passage of the budget" as both houses of the legislature acting on the governor's budget proposal, with the comptroller confirming it covers state operations for the coming year. It directly affects the governor and lieutenant governor by linking their salary payments to the timely passage of the state budget.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enforces fiscal accountability by withholding executive salaries until budget is passed, promoting timely budget adoption per fiscal management standards.95% confidence

Sub-Topics Audits & Accountability State Budget

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