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Budget season came to an end at the NY State Capitol last week. An influx of federal funds and higher-than-expected tax revenues are expected to balance out the final agreement between Governor Hochul and the Legislature, which came in at $220 billion and went into effect last Saturday. Included in the FY 2023 budget are a number of construction and economic development highlights such as: • $750 million to Rebuild the Wadsworth Center • $400 million Replace the Livingston Ave. Railroad Bridge in Albany • Money to Renew and Modernize Our State’s Roads and Bridges • Enhanced funding for the state and local “PAVE NY” programs • $200 million for Downtown Revitalization and Rural Community Revitalization • Revitalize and Spur Economic Growth Across Downtowns and Small Rural Communities • The FAST NY grant program (to develop shovel-ready sites to attract high-tech manufacturing) • $150 million for Regional Economic Development Councils. • $1 billion for Seed Funding for New Small Businesses • $250 million for a COVID Capital Costs Small Business Tax Credit • Tax Relief for Small Businesses • Expansion of Access to Capital and Job-Creating Investments • Expanded Clean Water, Clean Air, and Green Jobs Environmental Bond Act • New York State will suspend the state sales tax on motor fuels Click here for more details.