New York State missed its April 1 statutory deadline for an on-time budget, as the Hochul Administration and New York State Senate and Assembly leaders and staff continued to negotiate toward an agreement on the state's fiscal and policy priorities for 2023–24. Efforts to come to an agreement on amendments to New York's bail reform laws and on the Governor's housing plan have reportedly taken center stage in leadership-level discussions to date and are pivotal to reaching a resolution of other budget and policy issues.
As the state begins its first week of the new fiscal year without a budget, the Governor delivered a package of budget extender bills to the legislature Monday afternoon that will provide the authority for the state to continue spending for its operations for a period of time while negotiations are ongoing. The package of bills allows for state spending from April 1 through April 10 and may offer some insight into the status of the budget negotiations, as well as recognition of the crowded April religious holiday calendar that brings legislators back to their districts. We anticipate budget extender bills to be passed by the legislature today, April 3.
The Manatt team will continue to monitor budget negotiations and legislative activity and will provide updates as additional information becomes available.
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