|NYS Budget Update
On January 17, 2024 Governor Hochul released her Executive Budget Proposal. The Governor has statutory authority to release 21-day and 30-day amendments to her proposal. Though the window for 21-day amendments has passed, our team expects 30-day amendments to be released on or before February 15, 2024.
The NYS Legislature has continued the budget process by holding Joint Budget Subcommittees on each section of the Budget. Halfway through that process, the hearings have yielded testimony from government agencies and stakeholders. With the Governor’s call to keep spending flat, many of the testimonies given focused on maintaining funding, with very few agencies expecting an increase for programming this year.
Once testimony is gathered from all subcommittees, both Houses of the Legislature prepare their one-house budget proposals. We expect the one-house budget to be released sometime in early to mid-March.