Summary of Bill S 2024

Bill Number: S 2024

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

Status: COMMITTED TO RULES

Introduced: January 15, 2025

Classification: Bill

Purpose and Intent

Bill S 2024 aims to enhance the capacity of the Independent Budget Office (IBO) of New York City by allowing it to access specific tax data. The primary intent is to facilitate more thorough evaluations of the city's budgetary processes and fiscal policies. By obtaining this data, the IBO can provide more accurate analyses and recommendations, ultimately improving transparency and accountability in the city's financial management.

Key Provisions

• Data Access: The bill authorizes the IBO to obtain certain tax data from relevant city agencies. This data is crucial for evaluating the effectiveness of tax policies and their impact on the city’s budget.

• Evaluation Purposes: The tax data will be used specifically for evaluation purposes, enabling the IBO to conduct in-depth analyses of revenue generation and fiscal health.

• Reporting Requirements: The IBO may be required to report findings based on the obtained data, which could influence future budgetary decisions and policy formulations.

Who Would Be Affected

• Independent Budget Office (IBO): The primary beneficiary of this bill, as it will gain access to essential data that enhances its analytical capabilities.

• City Agencies: Agencies responsible for tax collection and management will need to collaborate with the IBO to provide the necessary data.

• New York City Residents: The bill could indirectly affect residents by leading to more informed fiscal policies and potentially better allocation of city resources based on the IBO's evaluations.

Procedural Timeline

• January 15, 2025: Bill S 2024 was introduced and referred to the Cities Committee.

• January 16, 2025: The bill was amended and recommitted to the Cities Committee.

• January 28, 2025: The bill was placed on the first report calendar.

• February 3, 2025: The bill advanced to the second report calendar.

• February 4, 2025: The bill advanced to a third reading.

• June 13, 2025: The bill was committed to rules for further consideration.

Related Bills

• S 7695: A prior-session bill that may have addressed similar issues.
• S 509: Another prior-session bill related to budgetary processes.
• S 2013: A prior-session bill that could have implications for fiscal evaluations.

This summary provides an overview of Bill S 2024, highlighting its purpose, key provisions, affected parties, and procedural history. The bill represents a significant step towards enhancing the analytical capabilities of New York City's Independent Budget Office, ultimately aiming for improved fiscal governance.