N.Y. LEG Law § 52

§ 52. Requirements with respect to bills affecting tax expenditures.\n1. For purposes of this section, the terms "tax expenditures" and "cost\nof tax expenditure" shall have the same meanings that they have in\nsection one hundred eighty-one of the executive law.\n 2. Tax expenditure impact statement. In addition to any other fiscal\nnote required, a bill that enacts or amends any tax expenditures shall\nbe accompanied by an impact statement consisting of a fiscal note\nseparately stating the estimated cost of the tax expenditures in the\nbill (a) for the first year it is to be in effect and (b) for the next\nsucceeding year, as well as a statement of the public purpose to be\nserved by such tax expenditures, unless the legislature affirmatively\nsets forth that no such public purpose statement is required.\n 3. Hearings. Hearings held by the legislature pursuant to article\nseven of the constitution shall include sufficient time for discussion\nand review of tax expenditures.\n 4. Joint report. The chairmen of the fiscal committees shall issue a\njoint report on the governor's annual tax expenditure report. Such joint\nreport shall include: a summary of the legislature's action on any\nrecommendations by the governor to continue, modify or repeal any tax\nexpenditures; a summary of any legislative initiative to continue,\nmodify or repeal any tax expenditures; and any revisions in the\nestimated costs of any tax expenditures included in the tax expenditure\nreport submitted pursuant to section one hundred eighty-one of the\nexecutive law.\n