Marching toward a Budget Deadline 

As the April 1 deadline to enact a New York State Budget agreement makes an appearance on the horizon, the legislature and the Governor worked through a couple of milestones this week, moving closer to the next phase of the negotiating process. Typically, as we move into March, the focus shifts to budget negotiations. That being said, the vaccination of eligible New Yorkers continued this week with the FDA moving closer to approving another vaccine, a neighboring state legalized adult-use Cannabis, and the Governor faced renewed allegations of misconduct.

NYS BUDGET:

• Budget Revenue Forecasts released – One of the milestones toward the annual April 1 budget enactment deadline is the release of state Revenue Forecasts from each house of the legislature. The Senate and Assembly released their revenue forecasts on Tuesday, February 23. As in most years the houses’ estimates differ from each other, and from the Governor’s. The Senate’s FY 2022 estimate of all funds receipts is $1.9 billion higher than the Executive Budget Financial Plan, while the Assembly projection is $3.534
  billion higher. A consensus on revenues between the two houses and the Governor must be met and released on March 1 (State Finance Law, Section 23). If an agreement is not made then the state Comptroller would be required to provide his estimates on or before March 5. The Senate forecast can be accessed here, and the Assembly here.
• As the budget process moves into March, the timeline becomes more active and condensed. One house bill introductions typically fall within the 2nd week of the month and around the same time the legislature and the Governor will settle on available funds above projected expenditures. The introduction of one house bills establishes the houses’ positions and will also signify the beginning of three-way negotiations and Joint Conference Committee meetings. Legislative Budget Hearings concluded with the February 25 health hearing. Under intense scrutiny by legislators, the state’s Health Commissioner maintained his stance regarding the impact COVID on the nursing home population. Submitted testimony and archived video for the health hearing and the rest of the legislative hearing can be accessed here.
• Legislative Budget Hearings concluded with the February 25 health hearing. Under intense scrutiny by legislators, the state’s Health Commissioner maintained his stance regarding the impact COVID on the nursing home population. Submitted testimony and archived video for the health hearing and the rest of the legislative hearing can be accessed here.

Johnson & Johnson COVID-19 Vaccine – The vaccine advisory committee to the FDA, the Vaccines and Biological Products Advisory Committee (VRBPAC), is scheduled to meet today (Friday, February 26, 2021) to evaluate J&J’s single dose vaccine. If the Committee recommends emergency approval by the FDA, it is then reviewed by the CDC’s vaccine panel, the Advisory Committee on Immunization
Practices (ACIP). The ACIP is scheduled to meet on Sunday.

New Jersey cannabis legalization – New Jersey’s Governor Phil Murphy signed legislation on Monday to legalize adult use cannabis. The bill is here and Monday’s press release from the Governor is here.