NY State Budget 2026: What It Means for NYC Residents

Current Status — Enacted May 28, 2026

• The FY27 budget is law. Governor Hochul signed the $268.5 billion package on May 28. The three final budget bills passed the Assembly and Senate on May 26-27.
• 57 days past the April 1 statutory deadline. Tardiest budget since 2010. Eight weeks late. Hochul’s framing on the delay: “I would’ve been happy to be done earlier. I laid out my priorities in January.”
• What landed for NYC residents: Foundation Aid at roughly $11 billion (+$538M / +5%), the pied-à-terre tax with a two-phase rate structure effective July 1, MTA operating aid at $8.6 billion, NYCHA capital at $140 million, HAVP at $50 million for year one, mayoral control extended two years through June 30, 2028 with no governance conditions, Tier 6 pension reforms, and auto insurance reforms.
• Rent freeze delivered: On June 25, 2026 the NYC Rent Guidelines Board voted Order #58 at 0% / 0% — a full rent freeze for rent-stabilized leases effective October 1, 2026, the first since the 2015-16 orders. The May 7 preliminary range (0–2% / 0–4%, 7–1 with one abstention) had defined the field; the board’s Mamdani-appointed majority took it to a straight freeze.
• City side: NYC Council FY27 budget adoption deadline was June 30. Mayor Mamdani’s $124.7 billion Executive Budget (released May 12) set the terms.

NYC Bottom Line: What’s in the Enacted Budget

The $268.5 billion total is the headline. The lines that matter most to NYC residents:

• Transit: $8.6 billion in state MTA operating aid for FY27, up from $8.0 billion in FY26 — the executive figure held. Payroll Mobility Tax unchanged from its FY26 expansion. No new state capital appropriation for the 2025-2029 plan this cycle; that plan was funded in last year’s budget.
• Schools: Foundation Aid for NYC at roughly $11 billion, a 5% / $538M increase per Chalkbeat May 20 reporting. Statewide Foundation Aid totals $27.4 billion, up $1 billion, with a 2% floor for every district. New formula weights (0.12 per homeless or foster student; ELL weight up from 0.53 to 0.6) send NYC an extra $143 million.
• Mayoral control of NYC schools: Extended two years, through June 30, 2028. No governance conditions. First clean reauthorization in over a decade. Mamdani retains his existing power to appoint a PEP majority without new constraints.
• NYCHA: $140 million in state capital — below the executive’s $250M proposal, well below Senate $500M and Assembly $750M.
• HAVP: $50 million for year one of a four-year program. Both chambers had pushed $250M; the executive’s $50M held. Three future years still to be negotiated.
• Pied-à-terre tax: Enacted with a two-phase rate structure (Class 1 vs. Class 2 split in Phase One; equalized in Phase Two). Effective July 1, 2026. Sunsets June 30, 2031. Projected $500M+ per year for NYC.
• Tier 6 pension reform: Teachers can retire at 58 (down from 63). Contribution rates cut. Estimated statewide cost: $551 million per year. Additional NYC cost: roughly $123 million per year.
• Auto insurance: Narrowed “serious injury” definition. $100K pain-and-suffering cap for drivers committing crimes. Rate-setting bans on zip code, homeownership, occupation, and education. CBC estimates roughly 10% rate reduction.
• Rent: No state-level rent freeze — but the city-side RGB delivered one. On June 25, 2026 the board voted Order #58 at 0% / 0%, a full freeze for leases from October 1, 2026. That fight runs through Mamdani’s appointments, not Albany.

MTA and Transit

The subway fare went up January 4. Base fare: $3.00, up from $2.90. Commuter rail up 4.5 percent on average. That’s already in effect regardless of what Albany did.

What the enacted budget settled: $8.6 billion in total state MTA operating aid for FY27, up from $8.0 billion in FY26. The breakdown: roughly $4.5 billion in directly appropriated state aid (STOA plus dedicated revenues), plus $4.1 billion in non-appropriated aid — about $3.5 billion from the Payroll Mobility Tax operating component, $348 million from the for-hire vehicle congestion surcharge, $274 million from downstate license and registration surcharges, and the remainder from NYC taxi trip and auto rental dedications. State aid covers about 40 percent of the MTA’s operating budget.

The PMT stays at its current rate. Last year’s expansion (0.895% for the largest payrolls, the small-business cut, and the self-employed-under-$150K exemption) holds. There’s no new state capital appropriation for the 2025-2029 capital plan in this cycle. That $68.4 billion plan was fully funded in the FY26 enacted budget Hochul signed May 9, 2025, via the expanded PMT capital lockbox plus a $3 billion direct state appropriation.

New for FY27: $77 million for NYPD subway deployment and $25 million for expansion of the Subway Co-Response Outreach Team.

Congestion pricing remains operational despite the Trump administration’s continued appeal. Judge Lewis Liman’s March 3, 2026 ruling held that DOT’s attempt to rescind federal approval was “arbitrary and capricious, an abuse of discretion, and not in accordance with the law.” DOJ filed a Second Circuit appeal on May 1, 2026. The program continues to generate roughly $500 million per year against the original projection ($550 million net first-year actual, January 5, 2025 through January 5, 2026).

For the full architecture — operating vs. capital, the seven funding pots, the board governance asymmetry, and how Albany’s annual MTA aid number becomes operating reality — see how the MTA is funded.

The next scheduled fare increase is March 2027, a 4 percent bump already locked into the MTA’s multi-year plan unless Board action modifies it.

NYC Schools

Foundation Aid is the budget line that most directly determines what New York City’s public schools can spend.

Enacted figure for NYC: roughly $11 billion, a 5 percent increase of about $538 million over the prior year, per Chalkbeat’s May 20 reporting. Statewide Foundation Aid lands at $27.4 billion, a $1 billion increase, with a guaranteed 2 percent floor for every district.

Two formula changes drive new money to NYC specifically. The state added a 0.12 weight per homeless or foster student, using a three-year district average to smooth volatility, and raised the English Language Learner weight from 0.53 to 0.6. Those two changes alone direct an additional $143 million to NYC. The Assembly’s $600 million NYC class-size add did not survive intact; the $143 million in new-weights money replaces it as the NYC-specific increase.

The reconciliation note for readers comparing to earlier coverage: Hochul’s January executive had been reported as proposing $15.1 billion for NYC — that figure was the cumulative state-aid-to-NYC line, including categoricals. “Foundation Aid” specifically is a narrower category, and that’s where the $11 billion lands. The $11B / +5% / +$538M framing from Chalkbeat’s post-deal reporting is the right reference point.

Mayoral control of NYC schools: extended two years, through June 30, 2028. No conditions attached. This is the headline change from the prior framing on this page, and it’s a notable break from precedent. Chalkbeat’s May 20 reporting: “The extension did not come with any tweaks to the city’s school board to shift the balance of power away from the mayor — a break from prior budget deals.” Previous extensions had added parent-representative board seats and limited mayoral removal authority. This one didn’t. Mamdani retains his existing power to appoint a Panel for Educational Policy majority without new constraints. He’ll negotiate the next extension mid-term, during his 2027 re-election cycle if he runs again in 2029.

UFT President Michael Mulgrew had put it plainly in January testimony: without formula adjustments, “New York City students will again be shortchanged by hundreds of millions of dollars.” The union’s complaint was that formula changes made in last year’s budget had cost NYC $314 million compared to what the city had expected. The new weights in this year’s deal partially address that.

The class-size mandate update is the most significant schools-side Albany action of the budget cycle. Sen. John Liu’s amendment bill (S10615/A11539) passed both chambers June 4, 2026, the Senate 60-0, softening the phase-in to 70/80/90/100 percent compliance across SY 2026-27 through SY 2029-30 and extending the full-compliance deadline two years. Gov. Hochul signed it June 26, 2026 as Chapter 155 of the Laws of 2026. The IBO’s revised December 2025 cost estimate put the full mandate at roughly 6,900 teachers at $635M-$720M annually by FY28. Mamdani’s May 12 Executive Budget priced in $122M plus $1.5B in SCA capital, which is below mandate cost even at the softened 70 percent target. For the borough-by-borough compliance rates, the UFT stipend side deal ($8,500 SY 2026-27), and the full Chapter 155 detail, see NYC Class-Size Mandate Tracker.

One piece of good news on the early-childhood side: $73 million to launch 2-Care in NYC in year one, part of a roughly $500 million two-year program, consistent with the executive’s $75 million / $425 million split. The 2-Care free-childcare-for-2-year-olds rollout was a Mamdani flagship campaign promise.

For the full schools-governance architecture, mayoral control, the 23-member Panel for Educational Policy, the 32 Community Education Councils, and the four-source funding mix that the Foundation Aid line above feeds into, see how NYC public schools work.

Housing

The enacted budget delivered considerably less on housing capital than either chamber had pushed for.

NYCHA capital: $140 million. Below Hochul’s executive proposal of $250 million. Well below Senate $500 million and Assembly $750 million.

The $140M is the state contribution — distinct from NYCHA’s overall five-year capital budget (FY2026-FY2030) of $7.79 billion, which combines federal, city, and state sources. NYCHA’s documented capital needs are above $40 billion. The state allocation is a partial offset, not a fix.

Separately, the budget includes $250 million in the broader Redevelopment of Underutilized Sites for Housing (RUSH) initiative for state-owned-land housing development, projected to support up to 15,000 units statewide. That’s a different state housing capital pot, not NYCHA-specific.

HAVP: $50 million for year one. Both Senate and Assembly one-house budgets had pushed $250 million. The executive’s $50 million held. HAVP runs March 1, 2026 through May 1, 2030, with over 125 vouchers issued by early March 2026. HCR administers HAVP outside NYC; within NYC, the program is administered by HPD and NYCHA. Three years of future funding remain to be negotiated in subsequent budgets. Housing Justice for All had called even the $250 million chamber proposal insufficient given ongoing federal Section 8 pressure.

The 485-x program — the 2024 replacement for the expired 421-a tax incentive for affordable housing development — is underperforming and got no fix this cycle. As of early 2025, it had generated only 118 building registrations (roughly 2,600 units), representing 3 percent of the citywide development pipeline. No state budget proposal included a 485-x reform. The program’s 100-unit wage threshold appears to be pushing development toward smaller buildings that avoid it, rather than producing the affordable units it was designed to generate.

The J-51 tax abatement got a 10-year renewal, extending the deadline to 2036.

No state-level universal rent freeze is in the enacted budget. That fight is playing out separately through Mayor Mamdani’s Rent Guidelines Board appointments and the RGB’s vote on Order #58. The May 7 preliminary vote landed at 0–2% (1-yr) / 0–4% (2-yr), 7–1 with one abstention. Public hearings ran June 4 at Jamaica Performing Arts Center in Queens, June 8 at Hostos Community College in the Bronx, June 11 at City Tech in Brooklyn, and June 16 at Symphony Space in Manhattan. At the June 25 final vote at El Museo del Barrio, the board voted Order #58 at 0% / 0% — a full freeze. Mamdani had launched the “Organize NYC” initiative through Mass Engagement Commissioner Tascha Van Auken to drive tenant testimony — a direct counter to the typical low-turnout pattern (about 400 testifiers last year on a decision affecting more than 2 million NY tenants). The new board’s tenant-majority composition (six Mamdani appointees of nine seats) had made a rent freeze mathematically possible, and its majority delivered it. Leases under Order #58 take effect October 1, 2026.

For the full regime map (the seven NYC housing regulatory pots, who sets the rules at city and state level, and where NYCHA + HAVP + 485-x + Good Cause + rent stabilization all sit relative to each other), see the NYC housing guide.

Taxes: What Changes for NYC

Pied-à-terre tax (enacted; effective July 1, 2026). The tax on residential properties whose owners don’t use them as their primary residence — think Manhattan condos owned by international buyers or second-home owners who spend most of the year elsewhere — was added as Article 30-C to NY Tax Law and Chapter 32 to Title 11 of the NYC Administrative Code. Projected revenue: $500 million-plus per year for NYC. Sunsets June 30, 2031.

The rate structure is two-phase to deal with NYC’s broken assessment system for condos and co-ops.

Phase One (FY 2026-2027 through FY 2027-2028):

Class 1 (single-family homes, $5M+ market value):

Class 2 (condos and co-ops, $1M+ assessed value):

Phase Two (FY 2028-2029 onward, after assessment revaluation to comparable sales):

All property types at $5M+ threshold:

The higher Phase One rates for condos and co-ops reflect their current assessed values being 5–15 percent of true market value; Phase Two switches to comparable-sales valuation to equalize across property types.

Excluded from the tax: rental apartments, commercial properties, hotels, vacant land, new construction without certificates of occupancy, and condos with more than three units under single ownership.

Mamdani at the rollout: “We are one step closer to balancing our budget by taxing the ultra-wealthy and global elites.” Hochul: “If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like every other New Yorker.” NYC Finance Department implementation rules are pending; first collection lands on the FY beginning July 1, 2026.

Tier 6 pension reform (enacted; major NYC fiscal implications). Teachers can retire at 58 after 30 years, down from 63. State and local employee contribution rates cut to 3–5.75 percent, income-based. Police and firefighters can include more overtime in final-salary calculations. Estimated statewide cost: $551 million per year. Estimated NYC additional cost: roughly $123 million per year. NYC also gets authorization to defer $2 billion-plus in pension payments via re-amortization — $2.3 billion in short-term pension amortization savings, but roughly $7.6 billion in long-term cost over 10 years. AFL-CIO President Cilento on the deal: “This demonstrates what the union movement can achieve when we stand together.”

Auto insurance reform (enacted). Narrowed “serious injury” definition — excludes non-permanent injuries that prevent work for more than 90 days. Cap on pain-and-suffering at $100K for drivers committing crimes. Bars claimants from recovering non-economic losses if more at fault than the defendant. Bans rate-setting by zip code, homeownership, occupation, and education. Caps excess insurance company profits. CBC estimates a roughly 10 percent rate reduction, about $200 per vehicle per year in savings.

POWER Checks (one-time energy rebate). $1 billion in $100–$200 checks to roughly 8.2 million New Yorkers. $200 to joint filers with incomes under $150K.

Tipped wages tax (enacted). Elimination of NY State income tax on tipped wages up to $25,000 per year, worth roughly $60 million-plus in tax relief.

Middle-income tax cut (enacted). Phased 0.2 percent income tax reduction for earners in the bottom five brackets — 0.1 percent for tax year 2026, an additional 0.1 percent for 2027.

High-income surcharge (unchanged; already law). Extended through 2032 in last year’s budget. Rates: 9.65 percent on income over approximately $2.15 million; 10.3 percent on $5M–$25M; 10.9 percent on $25M-plus.

SALT relief (federal, already effective). The federal SALT deduction cap was raised to $40,400 for 2026 under last year’s federal reconciliation legislation. For most NYC earners in the $100K–$500K range, that means they can now fully deduct state and local taxes from their federal returns — a meaningful benefit that arrived independently of Albany.

The City’s Fiscal Picture

The state-city money picture, post-budget: Hochul’s office is framing the total state aid package to NYC as “nearly $8 billion over two years,” combining the $1.5 billion February 16 operating support deal with additional assistance secured in the FY27 budget. NY Focus’s May 27 framing of the package: a “state bailout” of NYC. Vital City used similar language.

The $1.5 billion February 16 package: $510 million in recurring annual aid (restoring sales tax receipts previously retained by the state, reversing a public health cost shift, and supporting youth programming), $500 million one-time unrestricted, and $500 million in FY2026 support.

Mayor Mamdani’s $124.7 billion Executive Budget, released May 12, was declared balanced — but the watchdogs flagged the mechanics. Comptroller Mark Levine’s May 12 Comments: “It’s been a while since we’ve seen a mayor be this conservative on spending.” And the warning: “The Executive Budget relies on $2.8 billion in one-time measures and $2.3 billion in short-term pension savings, without solving for the fact that City government continues to spend more than we take in, even in a year of record revenues.”

Levine’s current FY29 gap projection is $8.577 billion, from his March 11, 2026 Comments on the Preliminary Budget. (The $13.6 billion figure cited in some earlier coverage was from Levine’s January 16 Budget Preview and has been superseded.) His March 11 progression: $2.853 billion FY27, $10.062 billion FY28, $8.577 billion FY29, $6.964 billion FY30. The May 12 Executive Budget Comments project out-year gaps widening to $9.8 billion by FY30 as the one-time measures roll off.

State Comptroller Thomas DiNapoli’s framing earlier in the cycle: the city’s plan “may require choices that threaten the city’s fiscal stability, competitiveness and affordability.”

The federal exposure is real and not yet fully priced in. NYC relies on $7.4 billion in federal funding — 6.4 percent of total spending. Two-thirds of that flows through DOE ($1.9B), DSS ($1.6B), and ACS ($1.3B). DiNapoli estimates $535 million-plus is already at risk from federal actions taken in 2025. Federal Medicaid work requirements taking effect in 2027 threaten coverage for 500,000 to 1.2 million New Yorkers and could cost the state $14.3 billion in federal support through 2030.

The more immediate federal hit: 450,000 New Yorkers are projected to lose Essential Plan coverage on July 1, 2026 under federal cuts. The state took new actions in this FY27 budget to preserve coverage for as many as possible, including using Basic Health Program authority to keep 1.3 million people covered. The federal hit still hits.

For the full city-side mechanics — the Charter §219–§259 timeline, how Albany’s numbers translate into the Executive Budget, the contingent 9.5 percent property tax hike, and the June 30 adoption deadline — see how the NYC budget process works.

Key Players

Governor Kathy Hochul — signed the $268.5B budget May 28. On the 57-day delay: “I would’ve been happy to be done earlier. I laid out my priorities in January.” On the pied-à-terre tax: “If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like every other New Yorker.”

Mayor Zohran Mamdani — first Albany budget cycle. On the pied-à-terre tax: “We are one step closer to balancing our budget by taxing the ultra-wealthy and global elites.” On the Executive Budget rollout May 12: framed the state assistance as a “Hochul Assist” that closed the deficit without raiding reserves or triggering the contingent property tax hike.

NYC Comptroller Mark Levine — independent fiscal watchdog. May 12 Comments on Mamdani’s Executive Budget: “It’s been a while since we’ve seen a mayor be this conservative on spending.” But also: “[T]he Executive Budget relies on $2.8 billion in one-time measures and $2.3 billion in short-term pension savings, without solving for the fact that City government continues to spend more than we take in, even in a year of record revenues.” Current FY29 gap projection: $8.577 billion (March 11 Comments).

Assemblymember Moreno — progressive criticism of the enacted package: “We have watched our executive co-opt the language of affordability…while ignoring the vast majority who wanted to increase taxes on the ultra-wealthy.”

AFL-CIO President Mario Cilento — on Tier 6: “This demonstrates what the union movement can achieve when we stand together.”

UFT President Michael Mulgrew — drove the Foundation Aid formula fight and Tier 6 pension reform. His January testimony framed the stakes: NYC students would “be shortchanged by hundreds of millions of dollars” without formula fixes. The enacted weights deliver $143 million.

Timeline

Jan 16, 2026 — Hochul releases executive budget; Levine Budget Preview ($10.4B FY27 / $13.6B FY29) Jan 20, 2026 — Executive budget at ~$260B published Feb 16, 2026 — Hochul-Mamdani $1.5B operating support package announced Feb 17, 2026 — Mamdani Preliminary Budget at $127B (declared balanced) Mar 10, 2026 — Senate and Assembly one-house resolutions Mar 11, 2026 — Levine Comments restate gaps: $2.853B FY27 / $10.062B FY28 / $8.577B FY29 / $6.964B FY30 Apr 1, 2026 — Statutory deadline missed Apr 7–20, 2026 — Weekly extenders #1–#4 Apr 15, 2026 — Pied-à-terre tax jointly announced May 1, 2026 — DOJ files Second Circuit appeal on congestion pricing ruling May 7, 2026 — Hochul announces “general agreement” at ~$268B; RGB preliminary vote 0–2% / 0–4%, 7–1 May 12, 2026 — Mamdani Executive Budget at $124.7B; Levine Comments project out-year gaps widening to $9.8B FY30 May 20, 2026 — Chalkbeat confirms mayoral control 2-year extension; NYC Foundation Aid lands at ~$11B May 26–27, 2026 — Final three budget bills pass Assembly and Senate May 28, 2026 — Hochul signs $268.5B FY27 budget (57 days late) Jun 4, 8, 11, 16, 2026 — RGB public hearings (Queens, Bronx, Brooklyn, Manhattan) Jun 5, 2026 — Budget enacted; RGB final vote and Council adoption still ahead Jun 25, 2026 — RGB votes Order #58 at 0% / 0% — full rent freeze (leases from Oct 1, 2026) Jun 26, 2026 — Hochul signs the class-size amendment (S10615/A11539) as Chapter 155 of the Laws of 2026 Jun 30, 2026 — NYC Council FY27 budget adoption deadline Jul 1, 2026 — Pied-à-terre tax takes effect; Essential Plan coverage cuts for 450K New Yorkers

What to Watch

RGB Order #58 — decided June 25. Mamdani’s tenant-majority board took its first binding decision to a full 0% / 0% rent freeze for leases from October 1, 2026 — the first RGB freeze since 2015-16. For the four-regime breakdown and what the freeze means for your lease, see how rent stabilization works in NYC.

NYC Council FY27 adoption (June 30). Mamdani’s $124.7B Executive Budget plus the now-enacted state numbers gets negotiated against Council priorities. CBC and the Citizens Budget Commission are flagging the “one-shot” pension re-amortization and the broader reliance on one-time measures. Federal exposure not priced in.

Federal Medicaid hit takes effect July 1. 450,000 Essential Plan coverage losses projected. State has prepared but the federal cut is still hitting.

Congestion pricing Second Circuit appeal. DOJ filed May 1. A reversal would blow a roughly $500 million per year hole in the MTA capital plan. Litigation ongoing.

Tier 6 long-term cost trajectory. Short-term savings ($2.2 billion over five years) vs. long-term cost ($7.6 billion in re-amortization plus $1.4 billion in Tier 6 specific costs over 10 years) for NYC. The bill comes due in the second half of the decade.

Pied-à-terre tax implementation. First collection on the FY beginning July 1. NYC Finance Department implementation rules pending. Real-world revenue capture vs. the projected $500M-plus is the test.

2028 mayoral control sunset. The clean two-year extension gives Mamdani room mid-term. He’ll negotiate the next extension during his 2027 re-election cycle if he runs for re-election in 2029. Albany gets another shot at conditions then.

March 2027 MTA fare increase. 4 percent scheduled bump locked in unless modified by Board action.

Why It Matters

The NY State budget isn’t an Albany story. It’s the document that determines how much money NYC’s schools receive, whether the MTA can close its capital gap, how much affordable housing the state funds, and what fiscal constraints the city operates under for the next twelve months.

Mayor Mamdani’s $124.7 billion Executive Budget already priced in much of the state assistance via the “Hochul Assist” framing on May 12. The Council now has until June 30 to negotiate adoption. For the structural picture of how state-budget money flows into NYC operations — and where the Mayor–Speaker–Comptroller override math actually decides things — see how NYC city government works. For the city-side mechanics — the Charter §219–§259 timeline, how Albany’s numbers translate into NYC’s Executive Budget, the contingent 9.5% property-tax hike, and the June 30 adoption deadline — see how the NYC budget process works. For the MTA-side mechanics — how state operating aid combines with the seven dedicated revenue streams, federal funding, and the city’s contribution to fund a $68.4B capital plan — see how the MTA is funded. For the schools-side mechanics — how Albany’s Foundation Aid figure flows into the DOE’s roughly $33B operating budget, how the class-size mandate translates into the ~6,900-teacher hiring obligation (IBO December 2025 revision), and how PEP and CEC governance actually works — see how NYC public schools work.

Sources

• NY State Division of the Budget — Governor Hochul Signs FY27 Enacted Budget (May 28, 2026) — $268.5B topline, signing date, enacted-budget press release. budget.ny.gov
• NY State Assembly — Enacted SFY 2026-27 Budget Press Release — $140M NYCHA capital line; Foundation Aid topline. assembly.state.ny.us
• NYC Comptroller Mark Levine — Comments on NYC’s Preliminary Budget FY27 (March 11, 2026) — FY27–FY30 out-year gap projections including $8.577B FY29 figure. comptroller.nyc.gov
• NYC Comptroller — FY 2027 Budget Preview (January 16, 2026) — earlier $10.4B FY27 / $13.6B FY29 figures since superseded. comptroller.nyc.gov
• NYC Mayor’s Office — Mayor Mamdani Releases $124.7B Executive Budget (May 12, 2026) — Executive Budget topline; “Hochul Assist” framing. nyc.gov
• NY State Governor’s Office — Hochul-Mamdani $1.5B Aid Announcement (February 2026) — recurring + one-time + FY26 support breakdown. governor.ny.gov
• NY State Homes and Community Renewal — Housing Access Voucher Program (HAVP) — program structure, administration, March 1, 2026 launch date. hcr.ny.gov
• MTA Policy Brief — What the New York State Budget Means for the MTA and Our Riders — $8.6B FY27 operating aid breakdown; STOA and dedicated revenue components. mta.info
• NYC Comptroller — The Pied-à-Terre Tax and Its Potential Revenues — revenue projection analysis. comptroller.nyc.gov
• Chalkbeat — State budget deal extends NYC mayoral control, increases school funding (May 20, 2026) — ~$11B Foundation Aid for NYC / +5% / +$538M; two-year clean mayoral control extension; new formula weights adding $143M to NYC. chalkbeat.org
• NY Focus — What’s in the 2026 NY State Budget? A Funding Guide (May 29, 2026) — line-item enacted figures; provisions list. nysfocus.com
• NY Focus — Mamdani Gets a New York City Bailout (May 27, 2026) — “nearly $8 billion over two years” total state aid framing. nysfocus.com
• Gothamist — NY lawmakers finally pass $268.5B budget (May 27, 2026) — passage timing; eight-weeks-late framing. gothamist.com
• Gothamist — NYC pension costs will go down, then way up under state budget bill (May 22, 2026) — Tier 6 pension cost trajectory; re-amortization mechanics. gothamist.com
• Spectrum News — N.Y. budget deal includes major Tier 6 pension revisions (May 22, 2026) — Tier 6 statewide $551M and NYC ~$123M figures. spectrumlocalnews.com
• NYSUT — Fix Tier 6 efforts yield significant reforms — retirement age and contribution rate changes; AFL-CIO statement. nysut.org
• CBS6 Albany — Hochul signs $268.5B budget for New York State (May 28, 2026) — signing day coverage; Hochul on the delay. cbs6albany.com
• The City — Rent Freeze No Sure Thing in First Vote (May 7, 2026) — RGB preliminary vote 0–2% / 0–4%, 7–1; board composition. thecity.nyc
• The City — Mamdani Plugs $12B Budget Hole With Hochul Assist (May 12, 2026) — Executive Budget rollout coverage. thecityreporter.nyc
• CNBC — New York passes Mamdani’s pied-à-terre tax (May 28, 2026) — passage confirmation; Mamdani quote. cnbc.com
• Insurance Journal — NY Lawmakers Agree to Governor’s Auto Insurance Reforms (May 28, 2026) — narrowed serious-injury definition; pain-and-suffering cap; rate-setting bans. insurancejournal.com
• Bloomberg — Trump Administration Appeals Congestion Pricing Ruling (May 1, 2026) — DOJ Second Circuit appeal. bloomberg.com
• Earthjustice — Federal Court Rules Trump Administration’s Attempt to End Congestion Pricing Is Unlawful (March 3, 2026) — Judge Liman ruling text. earthjustice.org
• Citizens Budget Commission — MTA Operating Budget Outlook — state aid covering 40% of MTA operating budget; structural risk framing. cbcny.org
• Citizens Budget Commission — How NYC Should Prepare for Federal Funding Changes — $7.4B federal funding, $535M+ at risk, Medicaid work requirements impact. cbcny.org
• Citizens Budget Commission — NYS FY 2027 Budget: Strong Receipts, Greater Risks — auto insurance rate-reduction estimate (~10%, ~$200/vehicle/year). cbcny.org
• Vital City — A State Bailout of New York City — “bailout” framing of the combined Feb + budget state aid package. vitalcitynyc.org
• Hogan Lovells — New York Enacts Annual Pied-à-Terre Tax — Phase One vs. Phase Two rate structure; Article 30-C / Title 11 Chapter 32 statutory citations. hoganlovells.com
• Hodgson Russ — The Pied-à-Terre Tax Has Landed — implementation detail; exclusions. hodgsonruss.com
• EisnerAmper — NYC Pied-à-Terre Tax Surcharge — Class 1 vs. Class 2 rate structure. eisneramper.com
• NY State of Health — Following Devastating Federal Funding Cuts, NY State Takes New Action — 450K Essential Plan coverage loss projection; 1.3M Basic Health Program coverage preservation. info.nystateofhealth.ny.gov
• NYC Mayor’s Office — Mayor Mamdani Launches Organize NYC (April 2026) — tenant-engagement initiative; Tascha Van Auken role. nyc.gov

Page last updated: July 4, 2026. The prior refresh (June 16) reflected the $268.5B FY27 enacted budget (signed May 28, 2026): Foundation Aid figures, NYCHA capital, Tier 6 pension reform, and the pied-à-terre tax. This refresh records the two decisions that had been flagged as open: the RGB voted Order #58 as a full 0% / 0% rent freeze on June 25, 2026 (leases from October 1, 2026), and Gov. Hochul signed the class-size amendment (S10615/A11539) on June 26, 2026 as Chapter 155 of the Laws of 2026. The next refresh triggers are: the NYC Council’s FY27 budget adoption outcome (due June 30); the actual federal Medicaid / Essential Plan coverage hit on July 1; and the Second Circuit’s handling of the DOJ congestion-pricing appeal. For the operating constitution behind every claim on this page, see About NYC Daily TL;DR and how we curate.