New York City Mayor Eric Adams presented New York City’s $99.7 billion Executive Budget for Fiscal Year 2023 (FY23). The executive budget looks to build on investments and fiscal discipline laid out in the preliminary budget by remaining focused on savings and building and maintaining record levels of reserves. The administration is using new revenues and […]
New York Issues “Substantial Food” Guidance for To-Go Drinks
New York State authorized restaurants and bars to sell to-go cocktails with take-out orders as part of the State’s $220 billion FY 2023 budget. Now, the State Liquor Authority (SLA) issued guidance about what constitutes a “substantial food” item to meet the to-go drink authorization. Per SLA: A substantial food item is defined as sandwiches, […]
New York Agrees to Kathy Hochul’s First Budget
New York Governor Kathy Hochul announced a conceptual budget agreement, six days past the date the budget was due. The total budget for FY 2023 is currently estimated at around $220 billion, based on a preliminary assessment of the negotiated changes to the Executive proposal. This Hochul’s first budget as governor and only one before the election in […]
SBA Pilot Program Targeting Access to Capital for Underserved Entrepreneurs Expanded
Vice President Kamala Harris and Administrator Isabella Casillas Guzman, head of the US Small Business Administration (SBA) announced reforms to the agency’s Community Advantage (CA) loan program, a key SBA tool for Community Development Financial Institutions (CDFIs), Community Development Companies (CDCs), microlenders and other critical mission-based lending partners, that prioritizes equitable access to capital for […]
Multi-State Agreement Signed with Major Hydrogen Ecosystem Partners to Propose a Regional Clean Energy Hydrogen Hub
Governor Kathy Hochul announced that New York has signed a multi-state agreement, including with an initial group of 40 hydrogen ecosystem partners, to develop a proposal to become one of at least four regional clean energy hydrogen hubs designated through the federal Regional Clean Hydrogen Hubs program included in the Bipartisan Infrastructure Investment and Jobs […]