Assembly Action Highlights
April 7-11, 2008

Dan Weiller, Press Secretary

Assembly Approves Budget Legislation For 2008-09 SFY

Assembly Speaker Sheldon Silver announced that the 2008-09 SFY budget approved by the Legislature increases funding to education by $1.75 billion and aid to localities by $112 million above the Executive Budget proposal, allowing the Assembly to keep its commitment to the state's public schools and help stabilize local property taxes.

"Given the state of our economy and the constraints it placed on this budget, it is amazing that we were able to keep the promise to the children in our classrooms throughout this state by increasing school aid by $1.75 billion over last year. We also were able to help localities provide services and meet their financial responsibilities by restoring the $18.4 million the governor cut from the Aid and Incentives to Municipalities program (AIM)," said Silver.

The budget up held the Campaign for Fiscal Equity promise by providing a $534 million increase in Foundation Aid for New York City's public schools. It also included $450 million in funding for the Universal Pre-K program, providing $96 million more than in the 2007-08 fiscal year. This will allow 121,000 four-year-olds, up from 93,000, to participate in this early childhood education program, bringing the state closer to achieving Universal Pre-K.

Funding also was provided from the budget to the state's New York Housing Trust Fund Corporation (HTF) to address the sub-prime mortgage crisis. HTF will receive $25 million in grants to assist homeowners hit by the crisis. The grants will help ensure that those facing default and foreclosure due to the unscrupulous practices of the mortgage industry have access to legal services and financial counseling.

To help revitalize the state's struggling economy and create job opportunities for New Yorkers, the budget appropriates $1 billion for economic development initiatives around the state. It includes $350 million for the New York State Capital Assistance Program (NYSCAP), a key Assembly program aimed a supporting critical projects through capital grants and loans.

Other highlights of the budget include $15.5 billion in operating assistance and capital to public universities across the state; $18.3 million to prevent cuts to student awards and restore funding to TAP; no tuition increase for SUNY and CUNY; and capital assistance funding of $390.1 million for SUNY Community Colleges and $207 million for CUNY Community Colleges.

In addition to the restoration of $18.4 million to the AIM program, the budget also provides $11.6 million in AIM funding enhancements for the state's major cities, including Buffalo,$2.7 million; Rochester, $3.2 million; Syracuse, $1.2 million; and Yonkers, $1.8 million.