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Senate and Assembly Release their One-House Budgets
The state Senate and Assembly released their respective one-house budget proposals on Tuesday signaling the Legislature’s response to Gov. Kathy Hochul’s initial Executive Budget proposal released in February. The deadline to pass a final budget is April 1, 2023. Notably, neither house included “good cause” eviction legislation in their budget proposals, however, lawmakers still have the opportunity to negotiate its inclusion prior to April 1 or consider the bill outside the budget. Among some of the more contentious issues being negotiated between the Legislature and governor include increasing income taxes on New Yorkers earning over $5 million, amending the state’s bail reform laws, increasing housing development, and electrification of homes and buildings.
Housing
Both the Senate and Assembly gutted Governor Hochul’s “Housing Compact” plan by removing language that would have provided the state authority to override local zoning and proposes providing state aid incentives for regional housing growth rather than a mandated requirement. Both houses proposed $250 million for a housing-access voucher program that would subsidize rent for people at risk of eviction and/or homelessness. The Legislature also removed many of the governor’s proposals to incentivize and expand affordable housing and multi-family development throughout the state.
Climate
Both the Senate and Assembly rejected the governor’s proposal to require the electrification of existing homes, however, both houses proposed to require new construction homes and buildings to be all-electric by 2025 for smaller buildings and 2028 for larger buildings.
To read a full budget summary of these issues and more, click HERE.
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