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New York Legislature Passes $140 Billion Budget

Daniel Barry, Getty Images

ALBANY, N.Y. (AP) — The New York Legislature has passed a $140 billion election-year budget that expands pre-kindergarten statewide and provides tax relief to homeowners and corporations.

The Senate passed the budget around 10:30 p.m. Monday and the Assembly approved it 45 minutes later for a fourth consecutive on-time state budget. The new fiscal year begins Tuesday.

Cuomo and legislative leaders reached an agreement on the spending plan early in the weekend, but the governor had to waive the required three-day review period on the education and health bills that weren’t printed until early Saturday.

The budget contains almost $138 billion for the coming year with an additional $5 billion in one-time federal aid for Superstorm Sandy rebuilding and the rollout of the Affordable Care Act for uninsured New Yorkers.

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