New York Note – One-House Budgets, NYS Human Rights, Cozen Expansion

March 18, 2024

Assembly and Senate Release One-House Budgets

Last Tuesday, the New York State Assembly and Senate released their one-house budgets, outlining their priorities for the Fiscal Year 2025 (FY25) budget. Both houses proposed raising taxes for high individual earners and the corporate tax rate, though the Governor declined to raise taxes in her own proposal. The Assembly and Senate are both prioritizing housing, with the Senate including a proposal for a new public benefits corporation to build affordable housing on state land, and stated they are “open to further discussing” the creation of a tax exemption for new multi-family construction in NYC, so long as it includes deeper affordability requirements. Both houses matched the Governor’s proposed funding of $2.4B in asylum seeker funding for NYC. Now that the legislature has released its one-house budgets, negotiations will begin between the Governor’s team, Assembly, and Senate. The final budget is due on April 1.

Speaker Adams Delivers State of the City Address

Last Wednesday, Speaker Adams delivered her annual State of the City address. Mayor Adams, Comptroller Lander, Attorney General James, and all five Borough Presidents were all in attendance, along with several members of the City Council. Speaker Adams focused on affordable housing, mental health support for youth, maternal health disparities, education programs, the city’s workforce, and challenges faced by older adults. While speaking at the Brooklyn Academy of Music, Speaker Adams also stressed the importance of supporting arts and cultural institutions throughout the City. She also described new proposals that the Council will soon introduce, including a Council evaluation of the city agencies’ performance, legislation requiring the city DOT to maintain a capital projects tracker on a monthly basis, and a program focused on fourth trimester mental health issues. The Speaker’s 2024 State of the City Report is available here.

Cozen O’Connor Public Strategies Adds Meenakshi Srinivasan

Cozen O’Connor Public Strategies is pleased to announce that Meenakshi Srinivasan has joined the New York City Practice. Srinivasan joins Cozen O’Connor as a Senior Principal and will be based in the Manhattan office. Srinivasan is an urban planner and land use and zoning expert, who previously worked as Chair and Commissioner of the Landmarks Preservation Commission and the Board of Standards and Appeals. In her new role, Srinivasan will work closely with Cozen O’Connor’s real estate practice and advise clients on zoning, land use and planning, and landmarks matters. You can reach her at msrinivasan@cozen.com.

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About Cozen O’Connor Public Strategies

Cozen O’Connor Public Strategies, an affiliate of the international law firm Cozen O’Connor, is a bipartisan government relations practice representing clients before the federal government and in cities and states throughout the country. With offices in Washington D.C., Richmond, Albany, New York City, Philadelphia, Harrisburg, Chicago, and Santa Monica, the firm’s public strategies professionals offer a full complement of government affairs services, including legislative and executive branch advocacy, policy analysis, assistance with government procurement and funding programs, and crisis management. Its client base spans multiple industries, including healthcare, transportation, hospitality, education, construction, energy, real estate, entertainment, financial services, and insurance.

About Cozen O’Connor

Established in 1970, Cozen O’Connor has over 775 attorneys who help clients manage risk and make better business decisions. The firm counsels clients on their most sophisticated legal matters in all areas of the law, including litigation, corporate, and regulatory law. Representing a broad array of leading global corporations and middle-market companies, Cozen O’Connor serves its clients’ needs through 31 offices across two continents.

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