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Highlights of proposed $140B NY 2014-15 budget

Created: 03/29/2014 2:32 PM WHEC.com
By: Associated Press

Here are some highlights of the proposed 2014-15 New York state budget negotiated by Gov. Andrew Cuomo and legislative leaders:

- Total proposal: $138 billion, plus $5 billion in off-budget one-time federal aid.

- Total growth held under 2 percent.

- A $1.1 billion, or 5.3 percent, increase in education aid, with high-needs districts getting almost 70 percent of the hike.

- Allocations of $340 million for universal pre-K during each of the next two years, with $300 million for New York City and $40 million for the rest of the state.

- A $2 billion bond act pending approval by voters in November that would allow borrowing to fund classroom computers and technology as well as building pre-K classrooms.

- Changes in implementation of the Common Core curriculum learning standards in English and math that will keep test scores off the transcripts of students in third through eighth grades through 2018.

- Increased aid for charter schools, assurances they will have space to operate and making them eligible for pre-K funding.

- The budget does not include the Dream Act, which would have allowed children of people in the country illegally access to state higher education aid.

- A property tax credit as an incentive for municipalities to restrain spending growth and encourage shared services that could provide $1.5 billion to residents over the next three years.

- Business tax cuts, including a 20 percent property tax credit for manufacturers who own or lease property and cutting the income tax rate for manufacturers from 5.9 percent to zero.

- Funding to crack down on texting while driving by young drivers, who would have their licenses suspended for four months on conviction for a first offense and a year for a second.

- A pilot program for public campaign financing of statewide campaigns that will involve the comptroller's race, with matching public funds of $6 for each dollar of eligible contributions and limits of $4 million each for the primary and general election.

- Establishing a new independent enforcement officer at the state board of elections to investigate violations of campaign finance laws.





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