![]() ![]() Driving Down Gun Violence and Creating a Safer New York StateĪs part of efforts to create a safer New York, Governor Hochul and state leaders reached an agreement to give judges greater discretion to set bail for the most serious crime offenses. This will allow the State to continue to set aside unplanned resources to guard against future economic downturns. In addition, the legislature agreed with the Governor’s proposal to further increase the statutory limit on allowable rainy day reserves. Deposits to reserves that had been planned for FY 2024 and FY 2025 will be completed by the end of the current year – two years ahead of schedule – for a total of $19.5 billion secured for a rainy day. All funds spending is $229 billion growing at 3.9percent. Governor Hochul’s FY 2024 Budget reflects New York’s steady finances, even as global economic trends send mixed signals. “These bold investments will lift up New Yorkers of today – and tomorrow – while maintaining a solid fiscal footing, and I thank my partners in the Legislature for their collaboration throughout this process.” A Balanced Budget “With this Budget, we are delivering on our promise to make the Empire State a more affordable, more livable, safer place for all New Yorkers,” Governor Hochul said. In keeping with the Governor’s promise at the outset of budget negotiations, the FY 2024 Budget does not include any new increases in State income tax. The Budget reflects Governor Hochul’s bold agenda to make New York more affordable, more livable, and safer by making smart, responsible investments in housing, mental health care, public safety, education, climate initiatives, and more. Governor Kathy Hochul today announced the highlights of the historic FY 2024 Budget. $1 Billion in Health Care Capital Funding To Create a Stronger Health Care System for the Future.Raises Minimum Wage to $16 in New York City, Long Island, and Westchester and $15 Elsewhere in the State, Which Will Increase by $0.50 for Two Years and Index to Inflation After 2026.Transformative Investments To Promote Energy Affordability, Reduce Emissions, and Clean Air and Water.Stabilizes MTA Funding, Avoiding Looming ‘Fiscal Cliff’ or Service Cuts While Investing in Public Transit Statewide.Tenants, Including NYCHA and Section 8, Will Receive $391 Million in Emergency Rental Assistance Program Funding.Major Investments in Education Include $24 Billion To Fully Fund Foundation Aid, $2.4 Billion in New Capital Projects for SUNY and CUNY.$100.7 Million To Protect Abortion Access and Strengthen New York State’s Safe Harbor Access.$1 Billion Plan Will Fix New York State’s Continuum of Mental Health Care.Governor Keeps Promise to New Yorkers: No Income Tax Increases for FY 2024 Budget.Agreement Reached To Provide Greater Discretion for Judges To Set Bail for the Most Serious Crimes Includes $772 Million to Address Gun Violence, Reduce Recidivism, and Support Criminal Justice System in Pandemic Recovery. ![]() ![]() Governor Hochul Announces Highlights of Historic FY 2024 State Budget Summary Points New York State Voluntary Defined Contribution Plan.Not-For-Profit Contracting Advisory Committee.Personal Income Tax Bonds & Sales Tax Revenue Bonds.Annual Information Statement & Financial Disclosure. ![]()
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