New York Senate Bill S02024

New York 2025-2026 Regular Session

• Introduced: 1/15/25
• Refer: 1/15/25
• Refer: 1/7/26

Caption

Authorizes the independent budget office of the city of New York to obtain certain tax data for purposes of evaluation.

Summary

Bill S02024 amends the administrative code of New York City to authorize the Independent Budget Office (IBO) to access certain tax data for evaluation purposes. This change aims to enhance the IBO's ability to conduct tax expenditure evaluations, which are essential for assessing the effectiveness and efficiency of tax policies and expenditures in the city. The bill outlines specific provisions that allow the IBO to inspect tax reports and returns while maintaining confidentiality and prohibiting unauthorized disclosures of taxpayer information.

Impact

The bill's passage will modify existing confidentiality laws regarding tax data in New York City, allowing the IBO to perform its evaluations more effectively. This change may lead to improved transparency and accountability in the city's financial management, as the IBO will have better access to data needed for thorough evaluations of tax policies. It may also influence how tax expenditures are assessed and reported, potentially leading to reforms based on the findings of these evaluations.

Sentiment

The sentiment surrounding Bill S02024 appears to be generally supportive, particularly among those advocating for increased transparency and accountability in government spending. However, there may be concerns regarding the privacy of taxpayer information and the implications of allowing a governmental body access to sensitive tax data.

Contention

Notable points of contention include the balance between transparency and taxpayer privacy. Some stakeholders may argue that increasing access to tax data for evaluation purposes could risk compromising individual taxpayer confidentiality. Others may express concerns about the potential for misuse of the data or overreach by the IBO in its evaluations.