New York’s $236.8 Billion Budget Focuses on Families and Affordability

On Saturday, April 20, the Assembly announced the enactment of the State Fiscal Year (SFY) 2024-25 Budget amounting to $236.8 billion, with a strong emphasis on investing in families and making New York a more affordable place to live.

Speaker Carl Heastie highlighted the Assembly Majority's commitment to prioritizing legislation that enhances affordability, inclusivity, and overall quality of life for New Yorkers. With critical funding allocated to various sectors, the budget aims to uplift families and address key issues affecting residents across the state.

Affordability

To alleviate the tax burden on families, the budget includes $350 million for the Supplemental Empire State Child Credit. Additionally, a 1.7 percent salary increase has been approved for support staff, clinical staff, and non-executive administrative staff in Human Services agencies. The creation of the New York Housing for the Future Program, with an allocation of $150 million, hopes to provide affordable homeownership and rental opportunities for low and middle-income families.

Tenant and Homeowner Protections

Protections for homeowners have been enhanced, including safeguards against residential and commercial deed theft. The budget introduces new tenant protections to prevent unjust evictions and unreasonable rent increases. These measures are designed to ensure housing security and affordability for all residents.

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Health & Mental Health

The budget prioritizes investments in healthcare services, with $800 million allocated for financially distressed and safety-net hospitals. Additional funding of $350 million is earmarked for hospital rate increases. Provisions have been made to address mental health needs, including funding for programs assisting individuals involved in the criminal justice system.

Higher Education

An investment of $20.7 billion in higher education has been outlined, with significant funding allocated to SUNY, CUNY, and opportunity programs. Notable changes include raising the minimum TAP award and expanding part-time TAP to proprietary college students.

Education

Funding for public schools, including the reinstatement of the "Hold Harmless" provision within Foundation Aid, underscores the budget's commitment to quality education. Ongoing support for My Brother’s Keeper Programs ensures equitable educational opportunities for all students.

Child Care

Continuing the trend of historic investments in childcare, the budget focuses on making childcare more accessible. Various initiatives aim to enhance childcare services, provider recruitment, and support for families experiencing homelessness.

Supporting New Parents

The budget introduces provisions aimed at assisting new parents, including mandates for paid prenatal personal leave and break time for breast milk expression. Additional funding for resources such as diaper banks and cribs underscores the commitment to supporting families.

Closing Illegal Cannabis Stores

Efforts to combat illegal cannabis sales are included in the budget, with provisions allowing for the padlocking of illegal cannabis businesses. Defined criteria for identifying egregious actors ensure a targeted approach to enforcement.

Environmental Funding

Significant investments in environmental initiatives, including funding for the Environmental Protection Fund and clean water infrastructure, highlight the budget's commitment to sustainability and conservation efforts.

Transportation

Allocations for localities and transit systems, along with measures to improve toll enforcement and limousine safety, showcase the budget's focus on enhancing transportation infrastructure and safety measures.

Other Provisions

Funding for AAPI crisis intervention centers, a tax credit for small businesses investing in retail theft prevention, and various other provisions reflect the diverse range of initiatives included in the SFY 2024-25 Budget.