New York lawmakers pass $237 billion budget with policies to jump-start housing market

FILE - The New York state Assembly Chamber is seen during a legislative session after Gov. Kathy Hochul presented her 2025 executive state budget at the state Capitol, Jan. 16, 2024, in Albany, N.Y. New York lawmakers passed a $237 billion state budget Saturday, April 20, that includes plans to spur housing construction and combat unlicensed marijuana stores. Saturday that includes plans to spur housing construction and combat unlicensed marijuana stores.

The plan offers developers a tax break if they agree to rent a portion of apartments in new buildings for below market price. The deal also includes measures to protect some tenants against unreasonable rent increases and evictions, though it was not as comprehensive as many advocates had wanted. “Governor Hochul did not solve the housing crisis — instead she pushed through a housing deal written by the real estate industry to ensure they keep getting richer off the backs of hardworking tenants," Cea Weaver, the coalition director for Housing Justice for All, said in a statement.in New York City. Bureaucratic hurdles have made it difficult for the state to shut down the shops, which have become ubiquitous in the Big Apple.

State Senate Republican Leader Rob Ortt criticized that measure during floor debates, saying it would encourage more migrants to come to New York.

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