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Wednesday, October 24, 2001
The New York State Senate today approved two bills that will create new jobs throughout the state, provide additional state aid to education and support for not-for-profit organizaitons, and expand gaming in New York State to generate additional revenues to help address the fiscal and economic damage caused by the September 11th attacks.
"This legislation is a victory for all New Yorkers because it will help us meet important needs in education, enable us to provide critically needed services through not-for-profit organizations and assure that we can offer new economic incentives to help us rebuild our city and state economies that were so dramatically affected by the terrorist attack on September 11th," Senate Majority Leader Joseph L. Bruno said. "The combination of state grants for school districts and expanded economic development combined with new revenue sources will help us achieve these goals and allow us to go forward, better prepared for the challenges ahead."
"It�s projected that the economic devastation of the attacks could be as much as $9 billion in lost revenue to the state," Senator Ronald B. Stafford (R-C, Plattsburgh), Chairman of the Senate Finance Committee said. "This legislation is needed to generate additional revenue so we can meet our responsibilities to schools, continue to encourage economic development and provide resources for important programs and services."
AID TO EDUCATION
Legislation passed by the Senate (S.5824) would provide $200 million in aid to education including $100 million in state aid grants for school districts & libraries; $52.5 million for Teacher Support Aid; $20 million for Teacher Centers; $12.6 million in aid to small city school districts; $5 million for the Teacher Mentor-Intern program; and $11.2 million for bilingual education programs.
"This $200 million, in addition to the school aid increase approved earlier this year will result in a total increase in aid to education this year of as much as $780 million," Senator Bruno said. "That follows four consecutive years of record school aid increases."
INVESTING IN ECONOMIC DEVELOPMENT
The legislation also invests $100 million in economic development programs including $10 million in seed money for the Senate�s Gen*NY*sis program to encourage job growth in the areas of biotechnology and biomedical research, as well as other high tech economic development initiatives. It also funds increased tourism and business marketing efforts.
The bill also calls for the immediate approval of four new Empire Zones to attract businesses to certain areas of the state in need of economic growth. Four additional zones will be approved in the near future, bringing the total of new Empire Zones to be approved this year to 14. $10 million is also included for the creation of a Liberty Zone economic development program related to rebuilding lower Manhattan.
"It is critically important, especially in light of the tremendous losses we suffered on September 11th, that we continue to invest in economic development and job creation," Senator Bruno said. "This investment in the Senate Gen*NY*sis program is the first step towards making New York State a leader in biotechnology job growth."
SUPPORTING COMMUNITY SERVICES
The bill also provides $200 million in support for not-for-profit organizations across the State that may be at risk of closing without this funding. These organizations provide human services, emergency relief and other community services.
About $1.4 billion in federal Temporary Assistance To Needy Families (TANF) funds are appropriated in this legislation. The funds will go towards a broad range of programs that assist low income families including job training, child care, work-related transportation, substance abuse treatment and domestic violence prevention.
In addition, the bill allocated $15.7 million in federal anti-drug funds for municipally-based anti-drug and crime prevention programs and provides for $750 million in appropriation authority for unemployment insurance to address the needs of New Yorkers affected by the attacks on the World Trade Center.
The Senate also passed legislation (S.5828) that would expand gaming in New York State to provide an economic boost to Western New York and the Catskill regions, as well as generate additional revenue to state and local governments to offset the loss of revenues caused by the terrorist attacks.
The legislation includes the authorization for three Native American-run casinos in the Buffalo/Niagara Falls region and three in Ulster and Sullivan counties. When fully operational these casinos will provide over $450 million annually in state revenues with one-quarter of the state�s share going to localities.
"I have always been personally opposed to casino gambling," Senator Bruno said. "However, the reality is that casino gambling is here already. There is an Indian-run casino in Central New York and casinos surround us in Connecticut, New Jersey and Canada. New Yorkers travel to these casinos and spend millions of dollars to support other states and countries. Establishing casinos here will boost tourism, economic development and generate revenue to support important programs for New Yorkers."
The bill also authorizes the installation of video lottery terminals (VLTs) at the Aqueduct, Yonkers, Monticello, Vernon Downs and Finger Lakes race tracks. Other harness racing tracks, including ones in Saratoga, Buffalo and Batavia, are given the option to have VLTs if approved by county elected officials. It�s estimated that VLTs will generate over $300 million when fully operational.
Also, under the provisions of the bill, New York State will join the multi-state Powerball lottery game, generating about $200 million in revenue to the state.
The bill also makes modifications to the method used to pay State building aid and the structure of debt issued to finance the construction of schools to reflect current public finance standards. Refinancing the state�s portion of school building aid reimbursements over a longer period of time and with lower interest rates will save $160 million in the next fiscal year and could grow to as much as $450 million later.
The bill also includes the following:
- Extensions of the Bank Tax to January 1, 2003; the Child Health Care Plus Program to March 31, 2002; the Quick Draw Lottery and the Loft Law until March 31, 2002; Excess Medical Malpractice to March 31, 2002 with an allocation of $45million.
- A delay in the implementation of the PINS program to July 1, 2002;
- A one year continuation of the advanced payment schedule for the STAR property tax relief program;
- The reestablishment of the natural gas import tax retroactive to 1990
"Our nation and our state has entered an extraordinary period in our history," Senator Bruno said. "We are facing challenges that we never could have expected, but with the passage of these measures, we are beginning to meet those challenges head on and move our state forward."
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