Suspending the 16 cents-a-gallon fuel tax for six months would let New Yorkers keep $585 million, according to the legsilation. Average prices in the state have risen by more than 50 cents per gallon in a month, according to data compiled by AAA. The bill language gives localities the option of waiving their local sales tax, potentially equating to more savings.
Now that adult marijuana use has been legalized in New York, cannabis producers and distributors would become eligible for the same state tax breaks in place for other types of businesses. Cannabis businesses aren’t allowed to take federal tax deductions.
In addition, the state would put $50 million into matching funds to encourage private investors to finance the startup costs of some marijuana dispensaries. The goal would be to help those convicted of marijuana-related offenses, or their relatives, take advantage of the new legal marketplace.
Pandemic Recovery, Health
For hospitals, clinics, and mental health facilities struggling with staffing shortages, $1.2 billion would be devoted to covering bonuses of as much as $3,000 per eligible worker. Employees would get the bonuses after one year of work, and the money would be pro-rated for part-timers.
The deal also calls for creating a higher minimum wage for people who provide home health care. They would get a $3-per-hour bump, to $16.20 statewide and $18 in New York City, Long Island, and Westchester.
The state would repay student loans for nurses who work in under-served areas for at least three consecutive years.
Private insurance plans would be required to cover abortion services, with some exceptions, and the costs in many cases couldn’t be subject to annual deductibles or co-payments. Coverage for abortion could be excluded if the insurer obtains an annual certification from the group policyholder that they are a religious employer that requested a policy without coverage for abortion.
The legislation would temporarily require Medicaid and commercial health insurance to reimburse for telehealth services, with the exception of certain costs such as facility or transportation fees. That requirement would end in 2024.
The measure would put $5 billion in the state’s rainy-day fund in anticipation of federal Covid-19 aid coming to an end.
Ethics
The budget deal, the first major legislative agreement since Hochul took over for Andrew Cuomo, who departed under an ethical cloud, would also jettison New York’s system for dealing with complaints against politicians.
A Commission on Ethics and Lobbying in Government would be replaced with a new panel that’s indirectly appointed by elected officials, with law school deans vetting the proposed members.
--With assistance from Laura Nahmias.
This article was provided by Bloomberg News.