Section 240. Tax benefit report.

Not later than the fifteenth day of February the mayor shall submit to the council a tax benefit report which shall include:

   a.   a listing of all exclusions, exemptions, abatements, credits or other benefits allowed against city tax liability, against the base or the rate of, or the amount due pursuant to, each city tax, provided however that such listing need not include any benefits which are applicable without any city action to such city tax because they are available in regard to a federal or state tax on which such city tax is based; and

   b.   a description of each tax benefit included in such listing, providing the following information:

      1.   the legal authority for such tax benefit;

      2.   the objectives of, and eligibility requirements for, such tax benefit;

      3.   such data and supporting documentation as are available and meaningful regarding the number and kind of taxpayers using benefits pursuant to such tax benefit and the total amount of benefits used pursuant to such tax benefit, by taxable and/or fiscal year;

      4.   for each tax benefit pursuant to which a taxpayer is allowed to claim benefits in one year and carry them over for use in one or more later years, the number and kind of taxpayers carrying forward benefits pursuant to such tax benefit and the total amount of benefits carried forward, by taxable and/or fiscal year;

      5.   for nineteen hundred ninety and each year thereafter for which the information required by paragraphs three and four are not available, the reasons therefor, the steps being taken to provide such information as soon as possible, and the first year for which such information will be available;

      6.   such data and supporting documentation as are available and meaningful regarding the economic and social impact and other consequences of such tax benefit; and

      7.   a listing and summary of all evaluations and audits of such tax benefit issued during the previous two years.

Section 241. Borough board preliminary budget hearings.

Not later than the twenty-fifth day of February each borough board shall submit a comprehensive statement on the budget priorities of the borough to the mayor, council, and director of management and budget. Each borough board, in the preparation of this statement, shall, upon adequate public notice, hold one or more public hearings on the preliminary budget, to obtain the views and recommendations of the community boards within the borough, residents of the borough and others with substantial interests in the borough, on the proposals contained in the preliminary budget and on the capital and service needs of the borough. Officers of agencies, when requested by the borough board, shall appear and be heard.

Section 242. Statement of debt service by the comptroller.

Not later than the first day of March, the comptroller shall submit to the mayor and to the council a certified statement which shall be published forthwith in the City Record and which shall contain a schedule of the appropriations required during the ensuing fiscal year for debt service, including appropriations to the several sinking funds as required by law, and such other information as may be required by law.

Section 243. The operating budget of the council.

Not later than the tenth day of March, the council shall approve and submit to the mayor detailed itemized estimates of the financial needs of the council for the ensuing fiscal year. Such estimates shall be comprised of at least one personal service unit of appropriation and at least one other than personal service unit of appropriation for each standing committee of the council and for each organizational unit established pursuant to section forty-five of this charter. The mayor shall include such estimates in the executive budget without revision, but with such recommendations as the mayor may deem proper.