NY S03775

Amends legislative law to require bills containing unfunded mandates affecting political subdivisions to be accompanied by a description and fiscal impact note from the comptroller, including total compliance costs and future projected costs.

Prohibits the legislature from considering bills with unfunded mandates unless accompanied by the required description and fiscal impact note, with exceptions for bills subject to existing fiscal note provisions, home rule requests, discretionary authority bills, or special finance law submissions.

Establishes a new executive law section requiring the comptroller to provide fiscal impact notes upon request of legislative committee chairs or ranking minority members and to conduct ongoing studies of legislative proposals containing unfunded mandates.

Creates an administrative regulation review commission within the state administrative procedure act to estimate costs of proposed regulations and biennially report recommendations to the legislature regarding flexibility, consolidation, termination, or simplification of unfunded mandates.

Takes effect on the ninetieth day after enactment.