NY A05421

Requires the Senate Finance Committee and Assembly Ways and Means Committee to prepare fiscal impact statements for any bill that establishes or eliminates a state program, significantly changes required services, or affects revenues or expenses of the state or local governments

Fiscal impact statements must detail estimated costs or savings to the state and affected political subdivisions for the three fiscal years following adoption, along with the sources of those estimates

Fiscal impact statements must be physically attached to bills before they are placed on members' desks for consideration

Allows fiscal impacts to be estimated using various methods including individual political subdivisions, statewide aggregates, representative subdivisions with relevant characteristics, or other appropriate groupings

Exempts certain bills from the fiscal impact statement requirement, including those with home rule requests from affected localities, bills providing only discretionary authority to local governments, and executive budget submissions