Lawmakers in Albany will approve key parts of the new $237 billion state budget for the next fiscal year after nearly three weeks past the deadline for approval.
Governor Hochul signed the agreement this past Saturday.
The Gov. pointed out Kathy Hochul in what she calls the first of several wins in her $237 billion budget package, announcing that most of her retail theft proposal will be included in the final plan. (Susan Watts/Office of the Governor Kathy Hochul)
A series of policy changes related to housing became central to the discussions.
These include tax breaks for developers to encourage the construction of new homes.
They also highlight new protections for tenants by introducing the so-called Good Cause Eviction law, which prohibits eviction or refusal to renew a lease without cause other than paying rent, illegal activities, reclaiming space for personal use or inconvenience.
Legislators also approved the part of the budget dedicated to health costs.
Hospitals will receive $525 million in Medicaid reimbursement rates and $285 million for nursing homes, which is less than what providers wanted.
Governor Hochul issued a statement after the budget was approved, saying:
“In my State of the State, I promised New Yorkers that we would fight to build more housing, improve education, and protect public safety, and that’s exactly what our budget is going to do. “
“This budget deal represents the most significant development in housing policy in three generations. It includes transformational investments in health care and education that will put our state on a path to fiscal sustainability. He will end insulin co-payments, establish the country’s first paid prenatal leave and launch the EmpireAI one percent income tax coalition.
“I am grateful to Speaker Heastie, Chief Stewart-Cousins and my colleagues in the Legislature for their cooperation on this agreement, and I look forward to working together.”
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2024-04-21 12:41:00
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