New York State Debt Budget appropriations for fiscal year 2026, including payments for federal tax rebates, debt service, and special contractual.

This bill allocates funds from the New York State general fund and debt reduction reserve fund for fiscal year 2026. It includes $20 million for federal tax rebates to maintain the exemption from federal income taxation of interest on state obligations. It also allocates $500 million from the debt reduction reserve fund for principal, interest, and related expenses on bonds issued by various authorities. Additionally, it provides $225 million from the general fund for redeeming general obligation bonds, subject to comptroller determination.

New York State Debt Budget appropriations for fiscal year 2026, including payments for federal tax rebates, debt service, and special contractual.

This bill allocates funds from the New York State general fund and debt reduction reserve fund for fiscal year 2026. It includes $20 million for federal tax rebates to maintain the exemption from federal income taxation of interest on state obligations. It also allocates $500 million from the debt reduction reserve fund for principal, interest, and related expenses on bonds issued by various authorities. Additionally, it provides $225 million from the general fund for redeeming general obligation bonds, subject to comptroller determination.