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GAC Committee Update
January 6, 2017

Staff Contact: Ken Pokalsky

Upcoming Events

2017 Legislators’ Reception – The Business Council’s Annual Legislators’ Reception, Albany’s premier networking event, will be held Monday evening, January 23, at The Hilton Albany. This event brings together Business Council members, legislators, legislative staff and state agency representatives, to make connections and begin the conversation on the 2017 legislative session. Advanced registration is required. Click here to register and to find out more about sponsorships.
Several additional meetings will be held at the Hilton Albany on the day of the reception:

Taxation Conference – Save the date for The Business Council’s Annual Conference on State Taxation, which will be held on March 8 – 9 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. 

 

Legislative Update

1. Legislative Priorities: Several legislative leaders laid out a list of 2017 priorities during their opening day remarks, including proposals that would impact Business Council members.  They included:

2. Senate Water Quality Report: The Senate Republicans have issued a report, “Water Quality and Contamination,” as a follow up to several public hearings held in late 2016.  Motivated by recent contamination issues in upstate and Long Island, the report recaps the Senate hearings, provides overview of response action at several contamination sites, and includes several recommendations including the formation of a “Drinking Water Quality Institute” to help set and monitor water quality standards and improved public notification of water quality concerns.   It also suggests several actions that will be of particular interest to Business Council members, including adopt of a “precautionary approach” in standard-setting, expanded medical monitoring at state superfund sites, and unspecified enhancement of water discharge permit oversight and enforcement.  We expect the Senate to be introducing specific legislative proposals with Senator Kemp Hannon saying that a water quality institute bill will be introduced within 10 days, and will be providing our GAC and Environment Committee members with updates. Staff contact: Darren Suarez

3. Income Tax Update: Governor Cuomo made pre-Christmas tax news when he suggested that he may consider extending the “millionaires’ tax” (currently a top personal income tax bracket of 8.82% on income above $2 million that expires at end of 2017, at which time the top PIT rate falls to 6.85% on income over $300,000.)   This week, in his start-of-session remarks, Assembly Speaker Carl Heastie reiterated his proposal from last year’s budget cycle to adopt three new PIT brackets of 8.82% ($1 to 5 million); 9.32% ($5 to 10 million); and 9.82% (over $10 million), giving New York the fourth highest top rate of any state.  The current top bracket is valued at between $2 and $4 billion per year.   The Division of Budget’s FY 2017 mid-year report showed PIT collections $1.2 billion or 5% below projected levels, leading to concerns about deficits the current and future fiscal years.  Staff contact: ken.pokalsky@bcnys.org

4. Assembly Leadership and Committee Chairs: The Assembly has issued its leadership and committee chairs for the 2017 session.   While most committees of interest  to Business Council members remain the same, key changes include Banks (Ken Zebrowski replacing Annette Robinson), Consumer Affairs (Brian Kavanagh replacing Jeff Dinowitz, Corporations (Jeff Dinowitz replacing James Brennan) and Tourism (Dan O’Donnell replacing Margaret Markey)

5.  “Regional State of the State” Messages: As has been widely reported, Governor Cuomo will be presenting six separate “regional state of the state” address.  The schedule is as follows:

6. Legislative Calendar: As reference, the formal legislative session calendar for 2017 is available here