Kathy Hochul announces $268B budget with pied-à-terre tax

More than a month behind schedule, New York Gov. Kathy Hochul finally announced the framework for a budget deal on Thursday, one that directly affects the real estate industry. Hochul’s agreement on a $268 billion deal was announced well after the Apr. 1 due date, Gothamist reported. It’s already on track to be the most delayed budget of Hochul’s time in office and the latest a budget will be passed since 2010. Key tenets of the deal include limiting cooperation with federal immigration enforcement, creating rebate checks to deal with the rising costs of utilities and eliminating income tax on […] This article originally appeared on The Real Deal. Click here to read the full story.