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Legalizing same-sex marriage in New York State could yield $142 million in economic benefits to New York City (part of a larger State gain of $184 million), according to a study released last week by New York City Comptroller William Thompson.

The report, “Love Counts: The Economic Benefits of Marriage Equality for New York,” concluded that most of the $142 million would be generated by the spending of residents, visitors and their out-of-town guests on weddings. It would most likely occur in the three years immediately following the enactment of legislation, the report stated.

The issue remaining: passing the legislation itself.

Gov. Eliot Spitzer proposed legislation mid-April to amend state domestic relations law and protect marriage equality of all New Yorkers. The legislation would grant equal recognition, benefits and protections to all married couples. His proposal gathered support from 53 Assembly members and 18 Senators who co-sponsored the marriage equality bill.

The potential income of $142 million could help speed up the legislature’s voting process, according to Empire State Pride Agenda Marriage Ambassador Gary Paul Gilbert and Democratic State Committeeman for the 37th Assembly District Jimmy Van Bramer.

“If you argue money,” Gilbert said, “you might have a chance of getting somewhere with [legislators].”

As to the question of whether putting a price tag on a civil right can be justified through the result it may procure, Gilbert said yes.

“This will provide a cover for the politicians who are in the middle,” he said, the ones who lesbian, gay, bisexual and transgender equality rights activists are trying to sway. “The people who are against us, they will just find another reason to go against us.”

Thompson’s intentions, though, were to show that same-sex couples “must be full citizens in order to excel at citizenship,” Gilbert said.

Van Bramer said the issue is about human rights and equality, not dollars and cents, and that people should vote to approve it because it’s something they believe in and see as the right thing to do. But “however we get people to support it, we need to get it passed,” he said.

Assemblyman Andrew Hevesi (D-Forest Hills), who is a co-sponsor of the Marriage Equality Bill, said “It is absolutely appropriate for legislators to consider all aspects of the marriage equality issue,” because the salient matter is equal rights for all citizens.

In addition to obtaining those rights, the City could boost its economy by $175 million – accounting for 71 percent of the added economic activity in the State – within three years of legislative approval, Thompson reported.

The study analyzed both the economic effects on the state and the fiscal impacts on government. It found that enacting marriage equality would entail costs to businesses, particularly those that offer health insurance to employee spouses, could generate for firms an expanded pool of qualified candidates and lower recruiting costs, and might engender greater tax revenue from same-sex couples who choose to buy homes as a result of marriage-induced economic security.

Additionally, the report stated, there would be fiscal impacts of higher sales, personal income tax collections and marriage license fees, lower estate tax collections and public savings on means-tested government transfer programs.

The report estimated that in the three years following legalization, more than 56,000 couples would travel from out-of-state to marry in New York, generating spending of about $137 million. They’d also spend about $77 million just by staying in the State overnight and having traveling guests.

Even more money would come from the approximately 211,000 City and 503,000 State business establishments that would pay $11 million and $21 million, respectively, per year in increased health insurance costs for employees’ spouses and families.

For more information and details of the report’s findings, visit www.comptroller.nyc.gov.