New York lawmakers have approved a $268.5 billion state budget after a prolonged negotiation period, introducing several measures that will significantly impact New York City residents. Among the key initiatives is a $1 billion allocation for utility rebate checks, which will benefit around 8.2 million residents, with varying amounts based on income levels. The budget also expands protections against Immigration and Customs Enforcement (ICE) by prohibiting local law enforcement from entering into formal agreements with the agency and designating sensitive locations where ICE cannot operate without a warrant. Additionally, the budget renews the J-51 tax abatement program for housing improvements and modifies the State Environmental Quality Review Act to expedite housing construction, allowing many projects to bypass lengthy reviews. A new tax on luxury second homes, termed the pied-à-terre tax, will impose surcharges on properties valued above $5 million. Furthermore, the budget extends mayoral control over NYC schools until 2028, while delaying certain climate regulations to 2028, reflecting a shift in the state's approach to environmental policy.