ALBANY, NY — Going into the 2015/16 budget year, the state is looking at a $5 billion budget surplus, mostly due to some one-time settlements with banks and insurance companies.

Gov. Andrew Cuomo has said that he wants to spend part of that money on a “$1.66 billion property tax credit program that gives relief to homeowners and renters who need it most.”

The second use for the surplus dollars and part two of what he calls his 2015 Opportunity Agenda would be a $1.5 billion economic revitalization competition, which would fund economic development programs in upstate NY.

Thirdly, in a private-public partnership, he would like to spend about $1 billion in a broadband program “to ensure every New Yorker has access to high-speed internet by 2019.”

Sen. John Bonacic said having an extra $5 billion to work with might seem like a good situation to be in, but he said, it actually makes the job of creating a budget more difficult because “there will be five billion special interests” looking to get a piece of the surplus.

In a video posted on his website, he said, however, that in his view the money would be best invested in upgrading the states infrastructure—roads, bridges, sewage and water plants. He added some spending on broadband might be beneficial.

New York City Comptroller Scott Stringer thinks that about half of the surplus—or $2.2 billion—should be returned to New York City. He said over the past few years, the city has been paying far more than its share of taxes and the surplus represents an opportunity to address the imbalance.

The pro-business group, Unshackle Upstate, released a new report in January that argued in favor of Bonacic’s approach, which would spend the money on infrastructure. From the group’s website: “The report highlights three key areas of need: roads and bridges, water and sewer systems and broadband access.”

“New York State’s infrastructure is in dire need of serious fiscal attention,” said Greg Biryla, executive director of Unshackle Upstate. “Investing the state’s multi-billion dollar windfall in our crumbling roads, bridges, water and sewer systems as well as broadband will bolster the foundation of our economy.”

The New York State Board of Regents, which oversees education policy in the state, is seeking money to bolster education spending. While Cuomo has promised to revamp the state’s education funding and spending, and proposed many other changes to education, it’s likely that a significant number of lawmakers will balk at the requested $2 billion increase in state education spending for next year.

Some advocates in the state say the bulk of the money, $3.9 billion, should be used in the construction of the replacement for the Tapan Zee Bridge, which spans the Hudson River between Rockland and Westchester counties.

Critics point out that the surplus is not real yet, because in order for it to materialize, lawmakers in Albany must keep state spending increases below 2% for each of the next two years. But in recent years, the legislature has managed to do that, so it seems likely there will be extra money to be doled out each year. Where it will eventually go will be determined through negotiations of the Assembly, the Senate and the governor’s office.