The $229 billion FY 2024 New York State Budget reflects Governor Hochul's bold agenda to make New York more affordable, more livable, and safer by making smart, responsible investments in mental health care, public safety, housing, education, climate initiatives, and more.
Governor Hochul's FY 2024 Budget reflects New York's steady finances, even as global economic trends send mixed signals. The Budget is balanced, and deposits to reserves that had been planned for FY 2024 and FY 2025 will be completed by the end of the current year — two years ahead of schedule — for a total of $19.5 billion secured for a rainy day. In keeping with the Governor's promise, the FY 2024 Budget does not include any new increases in State income tax.
This is an historic day for the great State of New York, because we take one step closer to helping millions of New Yorkers achieve that dream of better, more inclusive opportunities for people, making people feel safer when they walk down the streets, where they can find opportunity and success for themselves and their families.
FY 2024 New York State Budget Highlights
Historic investments to drive down gun violence, improve the criminal justice system, and create a safer New York State.
Transformative $1 billion, multi-year investment to overhaul the State’s continuum of mental health care & address the unmet needs of NY'ers.
Nation-leading protections for abortion access to solidify New York's status as a safe harbor for all those who seek abortion care.
Historic education funding includes a record $34.5 billion in total School Aid, the highest level ever.
Adds $391 million for the Emergency Rental Assistance Program, and creates a nation-leading program to combat childhood lead exposure.
Record investment to save the MTA and secure long-term stability for public transit.
Transformative investments of more than $30 billion for sustainable buildings, energy affordability, and clean energy development.
Transformative investments to support New York's business community and boost the state economy.
Historic plan to help low-wage New Yorkers by raising the minimum wage and indexing future increases to inflation.
Significant actions to expand access to affordable child care, invest in New York State's child care workforce and support working families.
Multi-year, $22 billion investment to support high-quality health care & expand Medicaid benefits for 7.8+ million low-income New Yorkers.
New legislation will increase civil and tax penalties for the illicit sale of cannabis from unlicensed dispensaries.
Eliminating civil service application fees, offering civil service exams on an ongoing basis, and expanding hiring for individuals with disabilities.