The State Senate Finance Committee is holding the first in a series of regional public hearings to discuss Governor David Paterson’s budget proposals.

The panel will meet today at the U.S. Customs House in Lower Manhattan.

The governor is planning to bring lawmakers back to Albany next month for a special session to address the state’s $3 billion mid-year budget gap. Technically called an extraordinary session, it’s set for November 10th.

Paterson has proposed a $5 billion cost-cutting plan over the next two years.

It calls for cuts of $1.3 billion to local assistance – including transportation, social services, and healthcare, as well as $480 million in cuts to education.

Other unfinished legislation from the last session in June will also be on the agenda, including gay marriage.

Paterson has asked lawmakers to convene a joint session November 9th so that he can address the Legislature.

Source: NY1