On April 20, 2024, the State Legislature passed the final bills comprising the 2024-25 New York State budget. The $237 billion spending plan was held up for weeks, due primarily to education funding and Medicaid, but was also delayed on account of policy issues concerning housing production and tenant protections. After last year’s bruising battle over the governor’s Housing Compact, this year’s budget negotiations yielded some modest gains in housing production, preservation, and affordability.
