§ 29. Sub-committees of finance and ways and means committees. For the purpose of more effectively carrying out the provisions of this article, and those of Article 2 of the state departments law, the chairman of the committee on finance appointed under the rules of the senate and the chairman of the committee on ways and means appointed under the rules of the assembly shall have the power to name sub-committees to perform such duties as they may prescribe. The members of such sub-committees so serving shall be paid their necessary traveling expenses in the performance of their duties.