NEW YORK — Gov. Kathy Hochul announced a handshake deal on a $268 billion state budget that includes a controversial pied-à-terre tax on second homes in New York City that would bringing more money to city coffers.

The budget also includes funding for childcare in the five boroughs and a slate of immigration measures intended to push back against the Trump administration, the governor said.

The breakthrough deal comes after a five-week delay delivering the budget.

“I’m not going to mince the words: The negotiations were not easy,” Hochul said. “They were very substantive disagreements, tough choices and powerful special interests trying to influence the outcome, and the dysfunction out of Washington certainly doesn’t help.”

The budget will include $15 billion in reserves, which Hochul lauded as a “pretty impressive” accomplishment given the Trump administration’s attacks on federal funding.

State lawmakers will vote on the budget bills in the coming days, with final details still yet to be worked out.

Mayor Zohran Mamdani has lobbied the state for months for helping closing the city’s estimated $5.4 billion budget gap. In efforts to put pressure on Albany, he sounded the alarm about a fiscal crisis and threatened to raise property taxes. It’s still unclear how much more money the state will fork over to the city in the final budget.

Mamdani, a democratic socialist, campaigned on raising taxes on the city’s millionaires and billionaires as well as some corporations — but Hochul viewed those ideas as a nonstarter and has emphasized the city should find savings in its own $127 billion budget.

“I want to be very clear, my commitment to New York City has been and always will be ironclad,” Hochul said, assuming a defensive posture against Mamdani’s calls for more aid. “This budget already includes $28 billion in total aid for the city, a $9 billion increase since I came into office. So the facts matter.”

A spokesperson for Mamdani did not immediately comment on the budget deal.

The pied-à-terre tax, which would place a surcharge on the most expensive second homes in New York City, was one of the final areas of uncertainty in budget negotiations, which stretched far beyond the April 1 deadline. Hochul has insisted it would rake in $500 million annually for the city, although she said Thursday the details have still not been worked out.

New York City comptroller Mark Levine raised questions last week about how the tax will function, saying it could rake in over $100 million less than those projections.

The “general agreement” reached by the state doesn’t offer specifics on the city’s K-12 schools, though Hochul spoke about the child care money she pledged to the city in January. New youth online safety laws that block direct messages from unknown adults to minors and disable AI chatbots and restrict location-sharing for youngsters under 18 were also included.

The budget also includes an expansion of the governor’s free community college initiative.

The governor was expected to deliver additional financial help or delay the class size mandate for schools, a rule that budget experts have said costs the city at least hundreds of millions of dollars, though she did not mention either at the Thursday announcement.

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—With Cayla Bamberger

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