The New York State Senate has officially passed the $229 billion fiscal year 2023-2024 state budget.

Some of the key concerns the budget aims to tackle are improving public safety. This would be done by investing nearly $347 million in gun violence prevention initiatives.

Another initiative is to create a stronger health care system with an additional $1 billion in health care capital funding and expanding Medicaid coverage for low-income New Yorkers.

MORE: Gov. Hochul breaks down $722 million investment into public safety

The state is doubling down on its promise to be a protector of women's reproduction rights and putting $25 million of recurring funds for additional abortion access services and $10 million in security grants for reproductive health centers.

When it comes to money in New Yorkers' pockets, the minimum wage is being raised to $16 an hour in New York City, Westchester and Long Island.

Almost $500 million in total is being allocated for the Emergency Rental Assistance Program to support tenants and families, the Homeowner Protection Program and the Homeowner Stabilization Fund.