Requiring an evaluation of measures the city or state of NY can implement to mitigate the impact on taxpayers of the limitation on the deduction for non-business state and local taxes for federal income tax purposes.

A Local Law in relation to requiring an evaluation of measures the city or state of New York can implement to mitigate the impact on taxpayers of the limitation on the deduction for non-business state and local taxes for federal income tax purposes

This local law would require the Department of Finance, or other agency or office designated by the Mayor, to conduct an evaluation of measures that New York City or State could implement to mitigate the impact on taxpayers of the limitation on the deduction for non-business state and local taxes as set forth in the Tax Cuts and Jobs Act of 2017. Such report must include recommendations and be submitted to the Speaker and Mayor no later than December 31, 2018.