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Government Affairs Albany Update

February 2, 2007

Special GAC Budget Meeting February 13th

There will be a special meeting of the GAC on Tuesday, February 13th at 10:00 a.m. dedicated to a discussion of the most significant business issues proposed in the 2007-08 Executive Budget. We will review the major revenue proposals put forth by Governor Spitzer.

We will also be providing an overview of the Governor's major health care, medicaid and education restructuring proposals. No registration is required.

Budget Summaries

The following provides overviews of Executive Budget proposals in several key issue areas. A complete budget review will be included in next week's GAC mailing.

TAXATION

$215M Combined Reporting

$35M Coupling

$40M Bank Tax

$15M Bank Tax

$22M Bank Subsidiaries

$104M REIT

$100M Subchapter S

$15M Subchapter S

$17M Listed Transactions

$23M Cooperative Insurance Company Exemption

ENVIRONMENTAL BUDGET INITIATIVES, Ken Pokalsky

Program Initiatives

Environmental Fees

Environmental Spending

ECONOMIC DEVELOPMENT, Ken Pokalsky

Key economic development initiatives in the Executive Budget proposal incllude the following:

Program Spending

Program Initiatives

INSURANCE

Tax Changes

ENERGY, Ken Pokalsky

Economic Development Power Programs

Regional Greenhouse Gas Initiative (RGGI)

Assessments

Department of Public Service $76,303,000 (utilities and cable)
NYSERDA * $16,056,000
Department of Environmental Conservation $ 6,686,000
Office of Homeland Security $ 6,243,000
ORPS $ 4,096,000
Consumer Protection Board $ 4,013,000
Disaster Preparedness Commission $ 3,650,000
Low Level Radioactive Waste $ 3,733,500
Economic Development $ 840,000
Agriculture and Markets $ 356,500
Parks, Recreation & Historic Preservation $ 89,000
TOTAL $122,066,000

* NYSERDA funding noted here does not include the System Benefits Charge ($175 million in 2007) or the Renewable Portfolio Standard ($43.1 million in 2007). Also note that these additional charges are paid by other customers in addition to businesses. 

Nuclear Power Plant Assessment

Department of Public Service

CONTRACT PROCUREMENT, Ken Pokalsky

LOBBY COMMISSION, Ken Pokalsky