News & Analysis as of

State and Local Government State Budgets New York

Farrell Fritz, P.C.

2026 Property Tax Levy Growth Cap Remains at 2%

Farrell Fritz, P.C. on

New York State Comptroller, Thomas P. DiNapoli, recently announced that the 2026 property tax levy increases will be capped at 2%.  The 2% limitation affects local governments including counties, towns, fire districts, 44...more

Cozen O'Connor

New York Note: Hochul Raises $11M, Court Orders Housing Voucher Expansion, FY26 NYC Budget

Cozen O'Connor on

Hochul Raises $11 Million in First Half of 2025 for Reelection and Party Support - Governor Kathy Hochul raised $4 million for her 2026 reelection campaign and another $7 million for the state Democratic Party between...more

Cozen O'Connor

New York Note: FY26 Budget Passage, City Legislation, Brooklyn Power 100

Cozen O'Connor on

On June 30, the City Council formally adopted the $115.9 billion FY 2026 budget. The budget includes funding to pilot a new free child care program for children under 2 years old, along with a significant increase in City...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: 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

Davidoff Hutcher & Citron LLP

Brooklyn District Attorney Eric Gonzalez – Innovative Approach to Safety

In this latest episode, Host Zack Fink conducts a newsmaker interview with Brooklyn District Attorney Eric Gonzalez. Using new methods of technology to prosecute crimes, Gonzalez has brought an innovative approach to keeping...more

Cozen O'Connor

New York Note: Council Sues Adams, Stefanik Governor Run, Pre-K Funding, Client Spotlight

Cozen O'Connor on

NYC Council Sues Over ICE Office at Rikers Island - The New York City Council has filed a lawsuit against Mayor Adams over the opening of a U.S. Immigration and Customs Enforcement (ICE) outpost on Rikers Island. The...more

Cozen O'Connor

Cozen Cities - April 16, 2025

Cozen O'Connor on

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: Quality of Life Division, City Legislation, Budget Negotiation Team

Cozen O'Connor on

NYPD to Launch New Quality of Life Division - Mayor Adams and NYPD Commissioner Jessica Tisch announced that the New York Police Department will be forming a new Quality of Life Division. The new division will unite officers...more

Cozen O'Connor

New York Note: Adams Case Dismissed, Adams Announces Independent Run, Council Releases Budget Response

Cozen O'Connor on

A federal judge dismissed the corruption case against NYC Mayor Eric Adams with prejudice, meaning that the charges can not be refiled in the future. Echoing sentiments from several prominent Democrats in the city, Judge Dale...more

McDermott Will & Schulte

New York Executive Budget Proposes Amendments to MCO Provider Tax

The New York State Executive Budget for Fiscal Year (FY) 2026 proposes significant updates to the managed care organization (MCO) provider tax, aiming to enhance Medicaid funding through innovative financial strategies. The...more

Cozen O'Connor

New York Note: NYS FY26 Executive Budget, City Legislation, Chief Nonprofit Officer

Cozen O'Connor on

Last Tuesday, Governor Hochul released her $252B FY26 Executive Budget. The proposal includes funding for $1B in tax cuts for middle class New Yorkers, $3B in rebate checks, $800M to expand the state’s child tax credit, $340M...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

McDermott Will & Schulte

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

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

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

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

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

Foley Hoag LLP - Energy & Climate Counsel

Overhaul of Major Electric Transmission Siting Process Proposed in 2025 New York State Executive Bud

In last week’s State of the State address, New York Governor Kathy Hochul previewed the Renewable Action Through Project Interconnection and Deployment (“RAPID”) Act – a proposal to streamline and expedite the siting and...more

Cozen O'Connor

New York Note – State of the State, State and City Budgets, Council Committees

Cozen O'Connor on

On Tuesday, Governor Hochul delivered her 2024 State of the State (SotS), laying out her vision for the year ahead. She focused her speech on proposals for mental health, healthcare, the environment, and the economy. The...more

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