Federal Funding Uncertainty Jeopardizes Impact of Inflation Reduction Act for New Yorkers
A report by Comptroller DiNapoli details New York’s financial impact from the 2022 Inflation Reduction Act, including close to $2 billion in funds for environmental and energy purposes that could help lower costs to consumers during New York’s transition to clean energy. Comptroller DiNapoli warns there is now significant uncertainty about whether this funding will continue after a new executive order issued by President Trump.
Comptroller DiNapoli and Department of Financial Services Superintendent Harris Designate New Banking Development District Branch to Support Community Banking in Red Hook
Comptroller DiNapoli and Department of Financial Services Superintendent Adrienne A. Harris announced the approval of Spring Bank’s Red Hook Branch as a Banking Development District and deposited $10 million in public funds to the bank.
Comptroller DiNapoli Announces Scheduled Sale of $541M State of New York General Obligation Bonds
Comptroller DiNapoli announced the details of the upcoming New York State General Obligation bond issue totaling $541.1 million. A competitive sale of tax-exempt and taxable bonds is scheduled for March 18. The state expects to sell $347.8 million of new money for transportation, education and environmental purposes and, depending on market conditions, $193.3 million to refund a portion of certain outstanding General Obligation bonds to reduce the state’s debt service costs.
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