Statement From Speaker Sheldon Silver Regarding Fiscal Notes
Prepared For Legislation Under Consideration By The Assembly

In light of the statements made by Jonathan Schwartz reported today that he acted irresponsibly in his professional duties as an actuarial consultant, I have determined that the Assembly cannot have confidence in any of the fiscal notes prepared by Mr. Schwartz for legislation that is currently before us.

I have spoken to the chairs of the Assembly Ways and Means and Governmental Employees Committees, and we have agreed that new fiscal notes will be required for all of these bills.

The Assembly Ways and Means Committee does its own analysis of the fiscal impacts of legislation under consideration. Also, legislation that has a specific fiscal impact on a particular locality requires a home rule message from the local legislative body.