New York lawmakers pass $237 billion budget with policies to jump-start housing market

ALBANY, N.Y. (AP) — New York lawmakers passed a $237 billion state budget Saturday that includes plans to spur housing construction and combat unlicensed marijuana stores.

The package also includes a raft of other measures such as expediting the closure of some state prisons, addressing a recent influx of migrants and continuing the pandemic-era policy of allowing people to buy takeout cocktails.

The state Senate and Assembly finished working through several budget bills Saturday after hours of debate. The spending plan now moves to Gov. Kathy Hochul to be signed into law, which she is expected to do.

The negotiations, which were conducted in private between the governor and top legislative leaders, largely hinged on a sweeping proposal to jump-start the state’s housing market.

The plan offers developers a tax break if they agree to rent a portion of apartments in new buildings for below market price. The deal also includes measures to protect some tenants against unreasonable rent increases and evictions, though it was not as comprehensive as many advocates had wanted.

“This budget agreement represents the most significant improvement in housing policy in three generations,” Hochul said in a statement.

<bsp-list-loadmore data-module="" class=«PageListStandardB» data-gtm-region=«READ MORE» data-gtm-topic=«No Value» data-show-loadmore=«true» data-gtm-modulestyle=«List B»> <bsp-custom-headline custom-headline=«div»> READ MORE </bsp-custom-headline> <bsp-custom-headline custom-headline=«div»> A new, stable fiscal forecast for Kansas reinforces the dynamics of a debate over tax cuts </bsp-custom-headline> <bsp-custom-headline custom-headline=«div»> New York closing in on $237B state budget with plans on housing, migrants,