Government Affairs Committee Update
April 3, 2017
Staff Contact: Ken Pokalsky
2017 Annual Conference on State Taxation
The Business Council’s Annual Conference on State Taxation, which will be held on Wednesday, May 10 - Thursday, May 11, at the Renaissance Albany Hotel. The conference provides attendees with the latest on tax issues and how these will impact business in New York. CEU and CLE credits are available.
The Governor has introduced “extender” bills that would fund state government through May 31, 2017. The two bills include a 1500 page appropriations bill, S 5492 (Rules)/A.7068 (Rules) and an “article VII” bill, S.5491 (Rules)/A.7067 (Rules) that include a number of health and finance/bonding provisions, plus several tax law changes.
Not included in the extender legislation are workers’ compensation reforms or legislation addressing the treatment of juvenile offenders (raise the age.) The Business Council made workers’ comp reform a priority for this year’s budget cycle, and reform language continues to be negotiated as part of the final budget agreement.
These extender bills also do not address the Governor’s proposal for free college tuition, extension of the “millionaires” PIT tax rates (or most other tax provisions proposed in the Executive Budget), “Buy American” procurement requirements, or a number of other Executive Budget initiatives.
Ridesharing authorization, a new affordable housing tax credit, and an extension or modification of “design build” authority also did not make the extender bills. Expanded oversight of or reporting on economic development programs also were not included.
The extender does include authorization of up to $2.5 billion in spending on water and sewer infrastructure.
The legislation also:
- Adopts a limited version of the Executive Budget proposal to impose price limits on certain pharmaceutical sales.
- Adopts several tax provisions including those addressing: sales tax of energy sales by ESCOs, the treatment of RICS and REITs under New York City business taxes, and providing a real property tax credit for New York City residents.
- Sweeps $245 million in workers’ compensation assessments to the State Insurance Fund to pay the cost of state employee’s workers’ comp coverage.
Please feel free to connect with myself or members of the GAC with any questions or comments.
Legislative Budget Resolutions - The Business Council’s overview of the Senate and Assembly budget resolutions is available here. This includes the legislature’s actions on all major provisions in the Executive Budget, plus initiatives proposed by the legislature.