UPDATE 1-New York state assembly to delay budget vote

Sat Mar 23, 2013 7:49pm EDT

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NEW YORK, March 23 (Reuters) - Lawmakers in New York state's assembly will not vote on the state's budget for the upcoming fiscal year on Sunday as scheduled, likely delaying it until later in the week, a spokesman for the assembly said on Saturday.

The delay means the vote on the $135 billion budget, for fiscal year 2013-2014, will now likely go ahead on Thursday during a session scheduled to begin at 10:30 a.m. The spokesperson did not say why the vote was delayed.

Legislative leaders agreed on a budget proposal on Wednesday but it needs to passed by both the assembly and the state senate. The senate will go ahead and vote on at least part of the budget in a session due to start at 3 p.m. Sunday, a spokesperson for the senate said.

The budget needs to be passed before the start of the state's fiscal year on April 1 but religious holidays in the coming week make its passage more complicated.

New York state governor Andrew Cuomo had been pushing for the budget to be passed this weekend. That, he said, would have made it the earliest since 1976. Providing it is passed before the deadline, it will be the third consecutive on-time budget in a state known for regularly overshooting.

The deal clinched Wednesday night after days of closed-door meetings raises the minimum wage, gives tax breaks to middle-class families and businesses, and extends a tax on high earners.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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