Government Affairs Albany Update
February 27, 2009
Staff Contact: Ken Pokalsky
Anti-Tax Advocacy — The Business Council continues to focus its advocacy effort on the $4.2 billion in new, permanent revenues included in the Executive Budget.
This week, the Council called on the Governor and legislature to devote a portion of new federal aid to eliminating major business taxes and assessments proposed by the Governor. These include increased insurance and health care taxes, increased assessments on energy and telecomm utilities, expanded taxes on cable services and others.
DiNapoli IDA Report— Comptroller Thomas DiNapoli has issued a second annual report on the performance of the state's 115 industrial development agencies. Last year, the Comptroller said that data reported by IDAs was inconsistent and incomplete, making it difficult to determine the number of jobs created and the cost to taxpayers. As a result, DiNapoli announced that his office would increase oversight of IDAs and would suspend IDAs from offering state tax exemptions if they failed to meet reporting requirements. In 2008, DiNapoli suspended nine IDAs. These reports includes detailed data on number of projects funded, level of funding provided and number of jobs created in IDA-financed projects. Further information, and a copy of the full report, is available here.
As always, feel free to contact me regarding these or other New York State legislative or regulatory issues of concern.