News & Analysis as of

State Budgets New York

Littler

NYS Department of Health Seeks Bidders to Provide Statewide Fiscal Intermediary Services in Response to the State Budget

Littler on

As previously discussed, New York’s State Budget for fiscal year 2024-2025 includes legislation that significantly changes the state’s Consumer Directed Personal Assistance Program (CDPA Program). The CDPA Program, funded...more

Cozen O'Connor

NYS Legislative Session Concludes

Cozen O'Connor on

The 2024 New York State legislative session has concluded. The end of the session was largely overshadowed by Governor Hochul’s directive to the Metropolitan Transit Authority (MTA) to halt the implementation of congestion...more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 4 of 4)

Cole Schotz on

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 3 of 4)

Cole Schotz on

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 2 of 4)

Cole Schotz on

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 1 of 4)

Cole Schotz on

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Katten Muchin Rosenman LLP

New York State Legislature Passes FY 2025 Budget, Including Significant Action on Housing

On April 20, 2024, after months of negotiations, the New York State Legislature enacted the state’s 2024-2025 Budget (Budget). The Budget represents the most significant state action on housing in several budget cycles and...more

McDermott Will & Emery

New York State Budget Institutes Revenue-Neutral Health Plan Tax

The New York State fiscal year 2024 – 2025 budget was signed on April 20, 2024, instituting, among many other provisions, a new tax on health plans, including insurers and managed care organizations. This tax has been...more

Cozen O'Connor

News York Note – City Executive Budget, Housing Deal, Congestion Pricing

Cozen O'Connor on

Mayor Adams Releases FY25 Executive Budget- Last Wednesday, Mayor Adams released the Fiscal Year 2025 Executive Budget. The Executive Budget for FY25 is $111.6B, higher than the Preliminary Budget at $109.4B. Due to better...more

Littler

NY State Budget Will Eliminate Many Fiscal Intermediaries in the State’s Consumer Directed Personal Assistance Program

Littler on

On April 20, 2024, Governor Hochul signed the New York State Budget for fiscal year 2024-2025 into law.  The Budget includes legislation that significantly changes the state’s Consumer Directed Personal Assistance...more

Harris Beach PLLC

New State Budget Bill Includes Changes to Employment Laws

Harris Beach PLLC on

New York State lawmakers came to a final agreement on a 2024-25 budget bill, which contains several notable changes to New York’s employment laws. There are three notable amendments in the budget that directly impact New York...more

Tarter Krinsky & Drogin LLP

New Legislation Affecting New York’s Rental Market: The Good Cause Eviction Law

As part of the 2025 Fiscal Year budget, Governor Kathy Hochul signed into law significant legislation affecting the New York City and State rental market, which is highlighted below: Good Cause Eviction Law- As of April...more

Jackson Lewis P.C.

New York State Budget Includes Enhanced Employer Obligations

Jackson Lewis P.C. on

The New York State enacted budget for fiscal year 2024 changes employers’ obligations by adding paid leave for prenatal care, converting unpaid break time for purposes of expressing breast milk into paid time, and...more

Cozen O'Connor

New York Note – NYS FY25 Budget Passes and City Legislation

Cozen O'Connor on

NYS Lawmakers Pass FY25 Budget- State lawmakers in New York passed the $237B FY25 state budget, reflecting an increase of $8B from FY24. The budget will retroactively be in effect from April 1, 2024 to March 30, 2025....more

Fisher Phillips

Key Updates for Employers in New York State: What Made the Budget and What Got Cut?

Fisher Phillips on

Employers should get ready to comply with key workplace changes since New York lawmakers just finalized the state budget. The 2024-2025 budget – which was approved on April 20 – ushers in three significant updates impacting...more

Rivkin Radler LLP

NYS Maintains Independent Practice Authority for NPs

Rivkin Radler LLP on

The New York State 2024-2025 budget includes legislation that extends until July 1, 2026 the independent practice authority for certain qualified nurse practitioners with over 3,600 practice hours....more

Cozen O'Connor

New York State Passes FY25 Budget

Cozen O'Connor on

This weekend, state lawmakers passed the $237B FY25 state budget, reflecting an increase of $8B from FY24. The budget was passed more than two weeks after the deadline of April 1, and will be retroactively in effect from...more

Cozen O'Connor

FY25 New York State Budget Update

Cozen O'Connor on

Monday evening, Governor Hochul announced the “parameters of a conceptual agreement” on the budget. Some highlights of the announced $237B budget are below: Housing - •NYC - •New 485-a incentive to build housing and...more

Cozen O'Connor

New York Note – Council Preliminary Budget, Council Union Deal, Nonprofit Advisory Council

Cozen O'Connor on

Last Monday, the New York City Council released its response to the Mayor’s FY25 Preliminary Budget. The response identifies $6.15B in newly available funds, citing higher-than-expected tax revenue from both the current and...more

Cozen O'Connor

New York Note – Congestion Pricing, State Budget Delayed, City Budget Hearings

Cozen O'Connor on

Congestion Pricing Rules Finalized by MTA- Last Wednesday, the Metropolitan Transportation Authority’s Board approved final rules for the city’s Central Business District (CBD) tolling program, with a vote of 11-1. The...more

Cozen O'Connor

New York Note – One-House Budgets, NYS Human Rights

Cozen O'Connor on

Last Tuesday, the New York State Assembly and Senate released their one-house budgets, outlining their priorities for the Fiscal Year 2025 (FY25) budget. Both houses proposed raising taxes for high individual earners and the...more

Foley Hoag LLP - Cannabis and the Law

NYS Lawmakers Unveil Cannabis Industry Reform Proposals in State Budget Negotiations

Earlier this week, the NYS Senate and Assembly unveiled their “one-house budget proposals” in response to Gov. Kathy Hochul’s executive budget proposal in January. The one-house budget includes several proposals related to...more

Cozen O'Connor

NYS FY25 Budget Alert: Assembly and Senate Release One-House Budgets

Cozen O'Connor on

On March 12, 2024, the New York State Assembly and Senate released their one-house budgets, indicating their priorities for the Fiscal Year 2025 (FY25) budget. Both houses proposed raising taxes for high earners, increasing...more

Littler

Governor Hochul’s Executive Budget Proposal Calls for Significant Changes to New York’s Consumer Directed Personal Assistance...

Littler on

Last month, Governor Hochul announced her Executive Budget Proposal for the 2025 fiscal year, which includes the elimination of wage parity benefits for personal assistants who work through the Consumer Directed Personal...more

Cozen O'Connor

New York Note – Congressional Maps, Comptroller M/WBE Report, NYS Budget Amendments

Cozen O'Connor on

IRC Approves New Congressional Maps- New York’s Independent Redistricting Commission (IRC) voted to approve new congressional lines. Small changes have been made to a few upstate districts, but the congressional districts...more

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