Albany Update January 20, 2006 The Executive Budget On Tuesday, Governor Pataki released his 12th and final executive budget. The Governor’s budget totals $110.7 billion, nearly double what it was when he took office in 1995. This year’s budget represents a 4.1 per cent increase over last year’s budget. Some highlights of the 2006 year’s budget include: $1.1 billion in tax cuts over the next few years. The proposed budget would cut the business income tax by 10% and eliminate some small business taxes. It would also abolish a law that limits the amount of tax credits a company can claim. Additional tax-free Empire zones for every county More than $1.1 billion in Medicaid savings An enhanced high-technology program—greater funding for the state’s Centers of Excellence, research centers and high-tech programs– and a $600 million public/private matching funds program to encourage biotech research. Tax incentives for development and use of renewable energy sources Public Hearings The legislative budget review process includes public hearings on the Governor’s Budget. The schedule for this year’s hearings is listed below: January 23 - Local Government Officials/General Government January 24 - Human Services January 25 - Mental Hygiene January 30 - Higher Education/Academic research January 31 - Transportation February 1 - Environmental Conservation February 6 - Elementary & Secondary Education February 7 - Health, Medicaid and Aging February 8 - Housing February 13 - Workforce Issues February 14 - Public Protection February 15 - Economic Development/Taxes Please contact us if you are interested in attending any of the budget hearings. FUNDRAISERS Monday, January 23rd Senator JIM ALESE [R] - Chair—Commerce - Albany, $400 Senator VINCENT LEIBELL [R] - Chair—Corporations - Albany, $450 Assem MICHAEL BENEDETTO [D] - Albany, $250 Assem JAMES TEDISCO [R] - Minority Leader - Albany, $300 Monday, January 30th DEMOCRATIC SENATE CAMPAIGN COMM - Albany, $650 Senator HUGH FARLEY [r] - Chair—Banks - Albany, $300 Assem AILEEN GUNTHER - Albany, $250 Assem HARVEY WEISENBERG [D] - Albany, $300 Monday, February 6th Senator Serphin Maltese - Deputy Minority Whip - Chair -Cities - Albany, $500 Back to newsletter list

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