New York will provide a tax incentive for housing construction in exchange for tenant protections to limit evictions and rent increases under a budget deal announced Monday by Gov. Kathy Hochul.
The agreement allows lawmakers to vote on a spending plan of roughly $237 billion that also includes items such as tougher penalties for retail theft.
“New York is in the throes of a housing crisis,” Hochul (D) said at a press conference in Albany. “Despite the tense headwinds, I vowed to never give up.”
Lawmakers have approved several budget extenders in recent weeks to keep the state government funded ...