Assemblyman Joseph Saladino, Senator Kemp Hannon, Senator Chuck Fuschillo and their colleagues announce they have an on-time state budget. The 2006-07 state budget will deliver record amounts of tax relief dollars to our homeowners in the form of property tax rebates as well as providing substantial increases in funding for education.
“Not only do we have the second on-time state budget in over two decades, but our Senators and I have delivered a budget that includes significant property tax relief for our hard-working Long Island homeowners,” states Saladino. “Our taxpayers have dealt with the undue burden of high property taxes for far too long. I am very pleased that we are able to provide this substantial and greatly needed tax relief that the residents have earned.”
The legislative state budget provides $805 million in property tax rebates this year and another $960 million for 2007-08, for a total property tax savings of over $1.7 billion, notes Saladino.
Saladino also described other budget details including elimination of the 4 percent state sales tax on clothing purchases under $110 and a child tax credit of $300 for parents with dependent children ages 4-17. When combined with other tax cuts, total savings are estimated at over $4 billion worth of tax cuts over the next two years.
Education funding initiatives contained within the 2006-07 State Budget fought for and approved by the Assemblyman and our Senators include:
- A $1.1 billion increase in school financial aid from the 2005-06 school year for a total of $17.36 billion in funding. This includes $466 million for additional general support for public schools;
- $330 per child education tax credit for children ages 4-17 attending public and private schools;
- $5.8 million addition, for a total of $94.6 million, in aid to public libraries. This reflects updating aid by the 2000 Census, as well as an increase. An additional $14 million is provided for public library construction projects;
- $2.6 billion for Expanding Our Children’s Education & Learning (EXCEL) capital program which includes funding for school computers and other education-related technologies;
- $59.7 million to off-set the revenue gap that otherwise would have resulted in a $500 SUNY tuition increase;
- $26.7 million addition, for a total of $37 million, for Teacher Resource and Computer Training Centers (“Teacher Centers”). This increase reflects the Legislature’s restoration of full funding for the program, as well as an additional $6 million for Teacher Centers;
- $50 million addition, for a total of $254 million, for Universal Pre-Kindergarten programs; and
- $4 million addition, for a total of $6 million, for the Teacher Mentor Intern program.