- Associated Press - Saturday, March 29, 2014

ALBANY, N.Y. (AP) - The budget plan established by the Cuomo administration and legislative leaders contains the governor’s proposal for tax relief to homeowners in localities that stay within a 2 percent tax cap and take further steps to reduce costs.

The estimated $1.5 billion in homeowner tax relief is tied to counties and their towns, villages and cities putting a lid on spending the first year, then getting state approval on local plans to cut spending in the second year.

Gov. Andrew Cuomo says it’s the most “transformative” piece of the budget for the fiscal year that starts Tuesday and was one of the most difficult to negotiate.

The Legislature is expected to vote Monday on the budget bills printed overnight Friday after agreements were reached between Senate and Assembly leaders and Cuomo.