Gov. Hochul Announces ‘Conceptual’ State Budget Deal

Gov. Kathy Hochul announced late Thursday that she and Democratic leaders of the state Legislature reached a “conceptual agreement” on a $229 billion state budget (about $2 billion more than her original proposal), which original deadline was April 1. As of Friday, no budget bills have been printed, so specific details and language is unknown. Some highlights of the conceptual agreement include:

1. An agreement to amend the state’s bail reform laws to remove the “least restrictive” measure allowing judges more discretion to set bail in violent cases;
2. A new requirement that all new building construction be all-electric beginning in 2026, and for larger buildings beginning in 2029.
3. Increasing the state minimum wage downstate by $.50 a year until it reaches $17 an hour; and in areas north of Westchester, minimum wage will go to $15 an hour next year, then gradually to $16 an hour over the next two years. Raises in the minimum wage will then automatically increase in line with the CPI.
4. Increasing cigarette taxes; allowing the revival of 14 charter schools in NYC; and expanding the state child tax credit.