March 21, 2001
Assembly unveils $85.97 billion budget resolution
The state Assembly has unveiled a $85.97 billion budget resolution for 2001-02 that includes $519 million in tax cuts and a new commitment of $2.17 billion to the state's general reserves.
"The budget resolution . . . responsibly supports education, health care and job creation, and provides prudent tax cuts to help working families," Assembly Speaker Sheldon Silver (D-Manhattan) said.
The Assembly resolution calls for increasing spending by $1.42 billion above the $41.34 billion General Fund budget proposed by Governor Pataki, the Assembly said in a press release. The Assembly said its resolution also would add $2.29 billion to the Governor's proposed All-Funds budget of $83.68 billion.
The Assembly said its specific budget proposals include:
- An investment of $470 million in high-technology development and university-industry partnerships. Both the Governor and the Senate have also proposed investments in university-based research & development and economic development, and The Business Council has proposed a five-year, $1 billion state investment in university research.
tax cuts, including an expansion of the state's existing
Empire Zones and the creation of 14 new ones. (Empire Zones
are regions in which employers that site plants and create
jobs are eligible for tax credits and other job-creation
incentives.) Other proposed tax-cuts include a new child
tax credit, reduction in the state's energy Gross Receipts
Tax on residential utility customers, and elimination of
the marriage penalty tax.
New spending totalling $327 million on health care. This
includes a full restoration of all of Governor Pataki's
proposed cuts to growth in Medicaid spending. It also includes
new spending totaling $100 million intended to address quality-of-care
and staffing issues in nursing homes and new spending of
$50 million to help hospitals recruit and retain staff.
addition of $107 million to the Governor's proposed spending
on higher education. This spending would be focused on funding
full-time faculty lines at public colleges and universities
($22 million), increasing aid to community colleges ($34.3
million), increasing the Governor's proposal to improve
the state's Tuition Assistance Program ($21 million), and
adding $23 million to the Governor's proposed support for
various educational opportunity programs.
"record" increase in funding for the state's environmental
protection fund, including $28 million for municipal parks
and waterfront rehabilitation an more than $60 million for
open-space land acquisition.
by $27.7 million the Governor's proposed funding of public
libraries with the intent of improving facilities and updating
restoration of funding for road and highway projects to
four-percent across-the-board increase in state revenue
sharing with localities.