(b) On or before February first of each year following enactment hereof, the department shall submit a report to the director of the division of the budget detailing any proposed privatization initiatives it would like to undertake including a summary of each initiative, the cost savings associated with each initiative and the impact of each initiative on customer service and departmental staffing levels. Copies of such report shall be simultaneously filed with the chairpersons of the senate finance committee and the assembly ways and means committee.
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