On April 7th, the New York State (NYS) Legislature passed the Enacted Budget for NYS Fiscal Year (FY) 2021-22. Governor Cuomo is expected to sign the budget bills into law this week. Total spending across all sources (including NYS and federal funds) is estimated at about $212 billion, with $111 billion from State operating funds. This reflects an increase of over $16 billion from the Executive Budget proposal ($7 billion in State funds), with significant new spending on COVID-19 response and relief for schools, renters, small businesses, excluded workers, and others.
On the revenue side, the budget incorporates significant federal aid from the American Rescue Plan (ARP) as well as additional revenue raised from increased taxes. The Financial Plan from the Executive Budget, as updated on February 22nd, projected a two-year budget gap of $12.7 billion. The ARP provides a total of $12.6 billion in unrestricted aid at the State level, which will be available for up to four years, and about $5.5 billion of this funding will be used to fill various gaps in FY 2022. The ARP also offered a total of $10.8 billion in aid to local governments (including about $6 billion for New York City), and the Budget creates appropriation authority for the distribution of these funds.
Attached is a summary of major health care provisions and other highlights from the budget’s Article VII legislation and appropriation bills.