Months before Gov. Kathy Hochul announced plans to expand a key tax credit for the theater industry, Broadway producers showered cash on her re-election campaign.

In her executive budget on Tuesday, Hochul proposed adding $150 million to the New York City Musical and Theatrical Production Tax Credit, which covers production costs up to $3 million apiece for Broadway shows and lesser amounts for smaller shows. First created by Gov. Andrew Cuomo in 2021 as a one-year lifeline during the pandemic, the tax credit has since been extended three times and expanded by $300 million. That’s despite complaints from watchdogs that the program often funds big, well-resourced hit shows like “The Lion King,” “The Book of Mormon” and “Wicked” that they say do not need taxpayer money to survive.

But by last summer, trade publications reported that the pot of money was running dry, despite a $100 million addition in last year’s budget that was supposed to extend it through 2027. That could spell trouble for the theater industry, especially producers, who have come to prize the tax break as “essential” for funding new shows, according to the industry news site Broadway World. Without the credit, the Broadway League has said that few investors would be willing to put up the money for new productions, which are famously high-risk.

Who is the governor meeting with? How much time does she spend fundraising for reelection?

When Kathy Hochul ran for a first full term in 2022, it was somewhat possible to answer those questions. Like her predecessor Andrew Cuomo, Governor Hochul released her schedule of meetings on a rolling basis, usually several months after they occurred.

The schedules indicated that Hochul’s record-breaking campaign fundraising was fueled by constant meetings with donors — and that on several occasions, she’d improperly billed taxpayers for trips on state aircraft that included campaign activity.

As Hochul runs for a second full term this year, the public no longer has that view into how she’s spending her time. That’s because the most recent schedules her office has released are from September 2024 — more than 15 months ago.

This week, Governor Kathy Hochul gave her annual State of the State speech, in which she touted her accomplishments and laid out her priorities as she seeks reelection to a second full term this November.

The first hurdle to clear is winning the Democratic primary on June 23. She’s facing a challenge from her own lieutenant governor, Antonio Delgado, who is mounting an underdog campaign, attacking his boss from her political left.

On Thursday, senior reporter Sam Mellins spoke with Lieutenant Governor Delgado about how Hochul’s agenda this year compares to the platform he’s running on. This transcript of their conversation has been edited for length and clarity.

Since Governor Kathy Hochul endorsed New York City Mayor Zohran Mamdani in September, the unlikely allies have presented a united front. That dynamic continued during and after Hochul’s annual State of the State speech Tuesday, which laid out an agenda that had significant overlap with Mamdani’s campaign promises — but also key differences.

Mamdani campaigned on making child care universal and free in New York City. On Tuesday, Hochul reiterated her pledges to put billions of dollars toward child care for children as young as 2 in the city, and expand child care vouchers and pre-K funding across the state.

Mamdani, who as an assemblymember often criticized Hochul, hailed her after the speech for “transforming the lives” of New York City’s children and “making our state affordable for thousands of parents.”