New York’s governor yesterday announced what she called a “conceptual agreement” on the $237 billion 2025 fiscal year budget that includes plans for new housing construction, addresses the migrant situation and crack down on illegal marijuana shops. In a surprise speech late yesterday, Governor Kathy Hochul said the budget reflects needs now and in the future. On education, Hochul said the foundation aid formula for schools, including the “hold harmless” provision, would be studied and adjusted…
Other highlights in the governor’s budget announcement yesterday, creating a statewide tax incentive for multi-family housing; making $650 million in discretionary funds exclusively available to Pro-Housing Communities; providing incentives for communities that want more accessory dwelling units; there would be new efforts to fight toll evasion on the roads and fare evasion in the subways; the expansion of Medicare coverage for seniors and the establishment of “Empire AI,” a consortium to create and launch a state-of-the-art artificial intelligence computing center in Buffalo for New York colleges and universities to use and put the state at the technology’s forefront to advance AI for the public good. The Senate and Assembly still need to approve the budget before it goes into effect.