Question 3 - Additional Estimates of the Cost of Proposed Laws and Updates to Budget Deadlines

Summary

This proposal would require additional analysis of the fiscal impacts of proposed local laws. The proposal would also update certain budget timelines. First, the amendment would require the Council to estimate the cost of proposed laws prior to a public hearing by a Council committee and prior to a full vote of the Council. It would also require the Council to provide an opportunity for the Mayor’s Office of Management and Budget to submit its own estimate in a timely manner. Currently, the Charter requires a Fiscal Impact Statement before a vote on a local law by a Council Committee and before a vote by the full Council. It does not specify who should develop those Statements, but in practice the Council formulates them. This amendment would codify the Council’s role. It would also move the Fiscal Impact Statement requirement earlier in the legislative process by requiring them before public hearings. Further, as noted above, the amendment would ensure that the Mayor, acting through the Office of Management and Budget, has an opportunity to submit financial estimates. As a result, Fiscal Impact Statements would, with this amendment, generally contain two estimates: one from the Council itself, and one from the Mayor. Specifically, the amendment would require that the Council give eight days’ notice to the Mayor (unless the Mayor waives the notice) before holding a public hearing or a full Council vote on a proposed local law, allowing the Office of Management and Budget to provide its own financial estimate. However, if that office has not responded at least three days before the hearing or vote, the Council could still move forward with such hearing or vote. Second, this amendment would update several budget-related deadlines in the Charter, with the intention of reflecting modern practices. In particular, it would give new mayoral administrations more time to compose a preliminary budget by extending the deadline for the preliminary budget from January 16th to February 1st in years following a mayoral election. There is precedent for this: recognizing that the existing January 16th deadline can be difficult for a new administration to meet, on past occasions the City Council has passed local laws that extend the deadline for submitting the preliminary budget when a new Mayor enters office. The proposed amendment would similarly update related budget deadlines to accommodate the new preliminary budget deadline: in years following a mayoral election, the deadline for the Mayor to submit a preliminary certificate on capital debt and obligations would be extended from January 16th to February 1st, and the deadline for the Independent Budget Office to report on revenues and expenditures would be extended from February 1st to February 15th. Likewise, with the intention of promoting a more accurate executive budget, this amendment would extend the deadline for submitting the executive budget from April 26th to May 1st. The Charter presently requires the Mayor to submit an executive budget on April 26th. That date falls shortly after the April 15th tax deadline, which gives the City relevant information about tax collections. A short extension of the executive budget deadline—to May 1st—would give the Office of Management and Budget more time to determine likely revenue. The amendment would accordingly extend the deadline for Borough President recommendations on the executive budget from May 6th to May 13th.

Voting “Yes” would amend the City Charter to require additional fiscal analysis prior to hearings and votes on local laws, and update budget deadlines.

Voting “No” leaves laws unchanged

Measure Details