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New York State Budgets Affordable Housing

Cozen O'Connor

New York Note: NYS Legislative Session Concludes 2025

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The 2025 New York State legislative session has concluded. For the 2025-2026 session, all bills not passed this year will remain live, and session is scheduled to begin again in January. We anticipate that the Governor will...more

Cozen O'Connor

Broad Street Brief: FY26 Budget Negotiations Entering HOME Stretch

Cozen O'Connor on

FY26 Budget Negotiations Entering HOME Stretch - Thursday marks the final opportunity for the City Council to advance bills—including those tied to Mayor Cherelle Parker’s $6.7 billion proposed budget and Housing...more

Cozen O'Connor

New York Note: NYS FY26 Budget and Client Spotlight

Cozen O'Connor on

New York State legislators passed the $254B Fiscal Year 2026 state budget, reflecting an increase of $17B from FY25. The FY26 budget included inflation refund checks (up to $200 for individuals and $400 for families), an...more

Cozen O'Connor

Policy Alert: New York State Passes FY26 Budget

Cozen O'Connor on

Yesterday, state lawmakers passed the $254B FY26 state budget, reflecting an increase of $17B from FY25. The budget was passed over five weeks after the deadline of April 1, and will be retroactively in effect from April 1,...more

Cozen O'Connor

New York Note: Adams Releases Executive Budget, Staten Island Special Election, City Legislation, City & State GR Pros

Cozen O'Connor on

Mayor Adams Unveils FY 2026 Executive Budget - Mayor Eric Adams released New York City's $115.1 billion Fiscal Year 2026 Executive Budget, dubbed the "Best Budget Ever.” It focuses on investments in public safety, criminal...more

Cozen O'Connor

Cozen Cities - April 16, 2025

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BALTIMORE—City Files Lawsuit Against DraftKings, FanDuel - The City of Baltimore filed a lawsuit against DraftKings and FanDuel, alleging that the sports betting companies exploit vulnerable gamblers through promotional...more

Cozen O'Connor

New York Note: State of the State and NYC FY26 Preliminary Budget

Cozen O'Connor on

Last Tuesday, Governor Hochul delivered her 2025 State of the State address, laying out her vision for the year ahead. Highlights from the State of the State are below. The Governor will release her Executive Budget soon to...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 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

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

Cozen O'Connor

New York Note – NYS FY25 Budget Passes and City Legislation

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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

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 – 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

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

Cozen O'Connor

New York Note: State of the City, Governor’s Budget, Judicial Appointments

Cozen O'Connor on

Mayor Adams Delivers State of the City- Last Thursday, Mayor Adams delivered his second State of the City address. In his address, Mayor Adams outlined a “Working People’s Agenda” focusing on jobs, safety, housing, and care....more

Sheppard Mullin Richter & Hampton LLP

New York Governor Releases Updated 421-a Program

Earlier this month, New York Governor Hochul’s executive budget introduced a proposal for an updated 421-a Real Estate Tax Exemption Program. Referred to as “Affordable Neighborhoods for New Yorkers” and proposed under a...more

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