Assembly Increases Aid To Localities In State Budget

Restoration Aimed At Stabilizing Property Taxes And Helping Municipalities
Meet Their Financial Responsibilities

Assembly Speaker Sheldon Silver announced today that the SFY 2008-09 State Budget will contain an increase of $112 million in aid to localities above the Executive Budget proposal. The funding will restore proposed executive cuts and increase funding to cities outside of New York City. The additional aid will help communities avoid property tax increases and provide essential services to residents and taxpayers.

"By restoring $18.4 million in additional cuts, the Assembly maintains its commitment to local governments through the Aid and Incentives to Municipalities program (AIM)." Silver said. "The Assembly rejected a two-percent aid reduction by the Governor because it would have added to the burdens faced by communities struggling to remain vibrant and create economic growth."

The legislation, expected to be passed in the coming days, provides for localities to receive an increase of $112 million in assistance to help them meet their financial responsibilities. The budget will restore an additional $85.3 million in assistance for New York City.

- 30 -

NOTE: Click here for aid amounts for localities around the state.