Both houses of the New York State Legislature have now approved a bill expanding the share of public pension funds that can be invested in complex, high-risk alternative assets such as private equity and hedge funds. Read More
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New York’s public pension funds will have the green light to significantly increase their asset allocations to “alternative investments,” such as private equity and hedge funds, under a bill that looks greased for passage in both houses of the state Legislature. Read More
The Thruway Authority still hasn't revealed its plan for financing the new Tappan Zee bridge, but a state revolving loan fund for clean water projects will help prime the pump. Read More
Skyrocketing public-pension obligations have generated concern across the country, especially in the wake of high-profile bankruptcies of Detroit and Stockton, Calif. In New York, an even larger burden looms in the form of lifetime health-insurance coverage promised to state and local government employees. Yet at least one house of the Legislature is considering a bill that would effectively prevent any effort to reduce this unaffordable debt. Read More
New York's economy grew more slowly than those of all but four other states in 2013, the latest federal data show. The real GDP numbers are consistent with job-creation data, which also show the Empire State to be lagging well behind the U.S. as a whole. Read More
Local governments should consider sharing services to help reduce costs and maintain services to residents, suggests a new report from the Empire Center for Public Policy. “Municipal Cooperation: Sharing Services in NY,” explores the different ways localities in New York can and do share services to save money. Read More
A new state budget provision would provide property tax rebates to homeowners in localities where local governments reduce costs and maintain services through shared services. Read More
An abandoned service area on the Taconic State Parkway in Dutchess County has been reopened, at taxpayer expense, as a government-run "Taste NY" store and farmers' market. Read More