ARTICLE
Now that the Governor has presented her Executive Budget, we can take a look at some of the items that could impact our industry. ECA's legislative consultants at Park Strategies have sifted through all of the documents and have identified the following items for our Legislative Committee to track. Regional Economic Development Councils - $150 million in new capital grants and $75 million in new tax credits for high-value regional priority projects. Downtown Revitalization Initiative - $100 million for transforming downtown neighborhoods. New York Forward - $100 million for rural and smaller communities. Renew Commitment to the Capital - $400M to revitalize downtown Albany. FAST NY Shovel-Ready Grant Program - Up to $100 million in grants to prepare and develop sites statewide aimed to attract large employers (high-tech manufacturing, interstate distribution, and logistics). Support Small Businesses With Low INterest Capital (LINC) - Help small businesses borrow at more affordable rates. $100 million for construction and renovation of community centers $100 million for construction and renovation of childcare centers Continued investment in the 5-year DOT Capital plan (click here to read out support letter) $500 million for water infrastructure $34 million library construction grants 2.2% increase to funds that reimburse school districts for some expenses, which includes construction and BOCES programs $8 million to launch a new initiative to support employer-led training. Additionally, DOL will collaborate with school districts and businesses to recruit high school students for a summer work experience program in high-demand fields. Extend the authorization of the Minority- and Women-Owned Business Enterprise program by two years. Increase discretionary procurement thresholds for Minority- and Women-Owned Business Enterprises and Service-Disabled Veteran-Owned Businesses from $750,000 to $1.5 million. Limit liquidated damages in certain frequency of pay violations Expand DOL enforcement power for wage theft Payment of workers’ compensation medical bills without accepting liability, which would allow payers to pay medical bills without accepting liability for the workers' compensation claim for one year. Enact a one-time Inflation refund, which would create an inflation refund tax credit for 2025. Provide a middle-class tax cut and extend the temporary personal income tax (pit) high-income surcharge for five years Click here to download this year's budget briefing book. If you have any questions, please contact Todd Helfrich (518-869-0961) for more information or to discuss any particular legislative concerns.
Now that the Governor has presented her Executive Budget, we can take a look at some of the items that could impact our industry. ECA's legislative consultants at Park Strategies have sifted through all of the documents and have identified the following items for our Legislative Committee to track.
Click here to download this year's budget briefing book.
If you have any questions, please contact Todd Helfrich (518-869-0961) for more information or to discuss any particular legislative concerns.