Governor Andrew Cuomo is calling New York's fourth on-time budget a "grand slam."
He says it has real historical signifigance considering the fact that state budgets have been late 23 times in the last 30 years.
The $138 billion spending plan includes tax breaks for businesses and rebates for homeowners outside of New York City. It also provides $300 million to fund Mayor Bill de Blasio's universal pre-K program in New York City, increases protection for charter schools and stops premature testing on the Common Core.
Cuomo says the bipartisan budget which passed by large margins in both houses proves that New York State government is functioning and performing well.