New York A 4301: Creates the legislative office of fiscal transparency; requires fiscal notes on proposed rules and executive orders affecting political subdivisions

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A04301 Summary:

BILL NOA04301 

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SAME ASNo Same As

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SPONSORJensen

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COSPNSRAngelino

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MLTSPNSR

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Add Art 4-B §§73 - 78, §68, Leg L; add §§201-b & 202-g, St Ad Proc Act; add §13, Exec L; amd §8, St Fin L

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Creates the legislative office of fiscal transparency; requires fiscal notes on proposed rules and executive orders affecting political subdivisions; requires legislative committee approval of certain proposed rules; requires the comptroller to make monthly reports to the legislative office of fiscal transparency.

Go to top A04301 Actions:

BILL NOA04301 

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02/04/2025referred to governmental operations

01/07/2026referred to governmental operations

Go to topA04301 Committee&nbspVotes:

Go to topA04301 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04301 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4301

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 4, 2025
 ___________

 Introduced by M. of A. JENSEN -- read once and referred to the Committee
 on Governmental Operations

 AN ACT to amend the legislative law, in relation to creating the legis-
 lative office of fiscal transparency; to amend the state administra-
 tive procedure act and the executive law, in relation to requiring
 fiscal notes on proposed rules and executive orders affecting poli-
 tical subdivisions; to amend the legislative law, in relation to
 requiring legislative committee approval of certain proposed rules;
 and to amend the state finance law, in relation to requiring the comp-
 troller to make monthly reports to the legislative office of fiscal
 transparency

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. This act shall be known and may be cited as the "respect
 2 taxpayer dollars act".
 3 § 2. Legislative findings and intent. The Legislature declares that
 4 state government has a responsibility to be accountable and transparent
 5 in such a way that the general public can understand the value received
 6 for the tax dollars spent by the state. This act is intended to create a
 7 review process for the executive budget and certain rulemaking proce-
 8 dures by state government agencies. Implementing an independent fiscal
 9 review of the executive budget proposal and rulemaking procedures that
 10 have a significant fiscal impact, will promote transparency and account-
 11 ability to the voters and restore public trust.
 12 § 3. The legislative law is amended by adding a new article 4-B to
 13 read as follows:
 14 ARTICLE 4-B
 15 LEGISLATIVE OFFICE OF FISCAL TRANSPARENCY
 16 Section 73. Legislative office of fiscal transparency; organization.
 17 74. Legislative office of fiscal transparency; oversight commit-
 18 tee.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04625-01-5

 A. 4301 2

 1 75. Powers of the office.
 2 76. Records access.
 3 77. Certified audit requirement.
 4 78. Reporting and disclosures.
 5 § 73. Legislative office of fiscal transparency; organization. 1.
 6 There is hereby created within the legislature the legislative office of
 7 fiscal transparency (LOFT). The purpose of the office shall be to assist
 8 the legislature in performing its constitutional and statutory function
 9 of ensuring that government funds are expended in a fiscally responsible
 10 manner by reviewing and providing non-partisan expertise in the review
 11 and analysis of the executive budget proposal, for the purpose of iden-
 12 tifying proposals with unknown fiscal impacts and to serve as a review
 13 body of rulemaking fiscal note compliance and administration.
 14 2. The legislative office of fiscal transparency shall consist of two
 15 directors, one of whom shall be the director for administration and the
 16 other of whom shall be the director for operations. The directors shall
 17 be appointed jointly by the temporary president of the senate and the
 18 speaker of the assembly. Provided, however, if both the temporary presi-
 19 dent of the senate and the speaker of the assembly shall have been
 20 elected to office on the same major party ballot line, then the ranking
 21