Among all the chaos, the NYS Legislature voted on and passed the State's budget last week and the Governor signed it immediately after. One of the key provisions for our industry is that the budget included an expansion of the prevailing wage requirements on certain private projects with project costs that are more than $5 million and that receive more than 30% of their funding from public sources ("covered projects"). To the extent that PILOT savings are able to be determined, they would count toward the threshold. However, tax benefits provided for projects where the length or value of which are not able to be calculated at the time the work is to be performed, would not count (this item, as it relates to PILOT's may be an item for determination by the new Public Subsidy Board). Certain projects are specifically excluded from the covered project requirement. They include affordable housing, some not-for profit, small renewable energy, sewer, brownfield remediation, charter schools, Downtown Revitalization Initiative (DRI), Restore New York, PLA, and historic renovation. Be aware that MWBE and Disabled Veterans requirements apply to covered projects. Also included in the Budget: Economic Development Capital (REDC) Paid Sick Leave Permanent ban on Hydrofracking Expanding Design Build Not in the Budget: Small Business Tax Relief Increase in HCRA taxes Gig Economy study provision Net Neutrality Legalization of Recreational Marijuana Our consultants at Park Strategies have provided a summary of the Budget that you can read here.