NY Lawmakers Pledge Scrutiny on Tax Breaks After Critical Report

New York lawmakers said they will pursue changes to tax incentive programs in next year’s legislative session, in response to an audit that found many of the credits don’t provide the state with a positive return on investment in the form of jobs and broader economic development.

State Senate Finance Chair Liz Krueger (D) said at a Wednesday hearing that she plans to introduce a bill that will require certain tax expenditures to sunset after five or seven years unless the legislature and governor’s office take action to renew them. Krueger in 2020 sponsored legislation to impose a five-year ...