NY S02649

Requires the governor to identify fossil fuel related tax expenditures in annual tax expenditure reports submitted to the legislature and made publicly available on state websites concurrent with budget submission.

Defines "fossil fuel" according to energy law section 1-103 and includes biodiesel, and defines "fossil fuel related tax expenditures" as those directly supporting production, transmission, distribution, transportation, storage, sale, purchase or delivery of fossil fuels.

Mandates governors provide additional information on identified fossil fuel tax expenditures regarding their impact on economic growth, jobs, cost of living, and fossil fuel emissions, along with recommendations to continue, modify, or repeal such expenditures.

Establishes a 5-year automatic expiration date for all existing fossil fuel related tax expenditures effective upon enactment, and for any new fossil fuel tax expenditures enacted after the effective date unless the legislature specifies otherwise.

Takes effect immediately upon enactment.