The state legislature is finished voting on a $141.3 billion state budget, with the Assembly completing it's work shortly before midnight on Thursday. The final passage occurred one week past lawmakers’ s self-imposed deadline, but three days before the spending plan was actually due to be finished.
The state budget includes a provision aimed at boosting the film industry in upstate New York. The new tax credit creates a two-tiered system that includes a 10 percent credit for productions using particular upstate locations.
The new state budget that lawmakers are enacting this week contains a tax package that includes both tax breaks and tax increases. The spending plan comes just two months after Gov. Andrew Cuomo said there would not be any new taxes in the budget.