Assemblyman Robin Schimminger
(D-Erie) is urging the complete elimination of the state's gross receipts
tax (GRT) on electricity and natural gas and other energy taxes, effective
this year.
Schimminger, chairman of
the Assembly Committee on Economic Development, Job Creation, Commerce and
Industry, said his bill would save residential and business customers $450
million a year
Assemblyman Joseph D. Morelle
(D-Monroe County) has introduced a bill (A.5317) to adopt the "single-sales
factor" to calculate state corporate income taxes.
His bill would phase in the
change over two years for manufacturers and biotech firms. When fully implemented,
it would cut business taxes by more than $50 million, creating 32,000 new
manufacturing jobs while increasing state revenues over the long term, Morelle
said
Eleven Senators have joined
Sen. Dean Skelos (R-Nassau) in sponsoring a bill to adopt the "single-sales
factor" to calculate state corporate income taxes.
The single-sales factor would
base corporate income taxes solely on a taxpayer's sales to in-state destinations.
Adopting the single-sales factor for all corporations is The Business Council's
top tax priority for 2001
The Business Council is urging
Governor Pataki to reject a proposed new multistate agreement governing
use of water from the Great Lakes, saying the regulations would needlessly
limit New York businesses' access to Great Lakes water.
"The Business Council questions
the need for onerous new conservation measures that could impose significant
costs on the basin's economy, but will have little, if any, effect on water
levels in the Great Lakes," Business Council President Daniel B
The
Senate Majority has proposed a major expansion of the state's "Empire
Zone" program, which makes specified regions eligible for tax credits
and other economic development incentives.
The Senate plan, which
was announced Feb. 27, would expand all of the 52 existing Empire Zones
and create 14 new ones
In its report criticizing single-sales factor taxation for New York State, the Fiscal Policy Institute makes specific reference to experiences in Iowa, Missouri, Massachusetts and Illinois. FPI claims that experience shows that "states that have adopted SSFF so far do not have a great deal to show for it
ALBANYNearly
49 percent of households in New York State have computers, slightly fewer than
the national average. Energy consumption per person in the Empire State is lower
than that in any other state except Hawaii. New York ranks second among the
states, behind Massachusetts, in the number of science and engineering graduate
students compared to total population
The state Board of Regents
has approved a plan to enable schools to incorporate the state's new higher
standards into vocational and technical high-school curricula. At the same
time, the Regents retained the requirement that these students, like all
high-school students in the state, will have to pass five exams in core
disciplines in order to graduate
Senate Finance Committee and Assembly Ways and Means Committee
February 13, 2001
Chairman Stafford, Chairman Farrell, and honorable members of the committees:
Thank you for the opportunity to speak with you today.
This hearing is mainly about the future – the decisions you and Governor Pataki will make with regard to taxes and economic development, and how those decisions can best position New York State in the competitive global economy
ALBANYSince
it started cutting taxes seven years ago, New York State "has never had it
so good," and further tax reductions could protect the state's economy if
the nation enters a recession, The Business Council of New York State told
top legislators today.
"New York never
had it so good as we have since we've been cutting taxes," Business Council
Vice President Edward Reinfurt told the Senate Finance Committee and Assembly
Ways and Means Committee