Assembly Speaker Sheldon Silver announced that a $10.5 million funding increase for New York City from the Consolidated Local Street and Highway Improvement Program (CHIPS) is included in the SFY 2013-2014 Budget approved by the Assembly today, making it the third consecutive on-time budget in recent years.

"I am pleased that in a budget with less than two percent growth, the state provided additional transportation funding to New York City," said Silver. "With this increase in CHIPS funds, the state is helping the city to keep its roadways maintained, dependable and safe."

The budget will provide $85.9 million to New York City in total CHIPS funds, a 14 percent increase from last year. The funding from the CHIPS program, which received a total appropriation of $438 million, a $75 million increase, is utilized by municipalities across the state to maintain their transportation infrastructure.

In addition, the state fiscal plan also will include $729 million in transportation construction aid to pay for core New York City road and bridge projects that are paid for with state and federal funds.