assembly Bill A10309

2019-2020 Legislative Session

Relates to the regulation and licensing of on-demand pay providers

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 22, 2020 referred to banks

A10309 (ACTIVE) - Details

See Senate Version of this Bill:
S8206
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Add Art 9-B §§374-aa - 374-ee, Bank L
Versions Introduced in 2021-2022 Legislative Session:
A3570

A10309 (ACTIVE) - Summary

Relates to the regulation and licensing of employer-integrated and non-verified on-demand pay providers.

A10309 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10309

                          I N  A S S E M B L Y

                             April 22, 2020
                               ___________

Introduced by M. of A. HEVESI -- read once and referred to the Committee
  on Banks

AN ACT to amend the banking law, in relation to on-demand pay providers

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The banking law is amended by adding a new article  9-B  to
read as follows:
                               ARTICLE 9-B
                         ON-DEMAND PAY PROVIDERS
SECTION 374-AA. DEFINITIONS.
        374-BB. EMPLOYER-INTEGRATED ON-DEMAND PAY PROVIDERS.
        374-CC. NON-VERIFIED ON-DEMAND PAY PROVIDERS.
        374-DD. CERTAIN ON-DEMAND PAY SERVICES TO BE CONSIDERED LOANS.
        374-EE. PENALTIES.
  § 374-AA. DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  1.  "EARNED  BUT  UNPAID  INCOME" MEANS EARNED INCOME THAT HAS NOT YET
BEEN PAID TO A USER BY AN EMPLOYER.
  2. "EARNED INCOME" MEANS MONEYS THAT HAVE ACCRUED TO THE BENEFIT OF  A
USER FOR SERVICES RENDERED TO AN EMPLOYER.
  3.  "EMPLOYER" MEANS ANY PERSON, CORPORATION, LIMITED LIABILITY COMPA-
NY, OR ASSOCIATION EMPLOYING A USER IN ANY OCCUPATION, INDUSTRY,  TRADE,
BUSINESS  OR SERVICE, OR ANY OTHER PERSON WHO IS CONTRACTUALLY OBLIGATED
TO PAY A USER ANY SUM OF MONEY ON AN HOURLY,  PROJECT-BASED,  PIECEWORK,
OR  OTHER BASIS FOR LABOR OR SERVICES PROVIDED BY SUCH USER.  "EMPLOYER"
SHALL NOT INCLUDE A CUSTOMER OF AN EMPLOYER OR OTHER THIRD  PARTY  WHOSE
OBLIGATION  TO MAKE ANY PAYMENT TO A USER IS BASED SOLELY ON SUCH USER'S
AGENCY RELATIONSHIP WITH THE EMPLOYER.
  4. "EMPLOYER-INTEGRATED ON-DEMAND PAY PROVIDER" MEANS AN ON-DEMAND PAY
PROVIDER THAT  OFFERS  ON-DEMAND  PAY  SERVICES  THROUGH  A  CONTRACTUAL
ARRANGEMENT  WITH  (I)  AN  EMPLOYER,  OR  (II) A SERVICE PROVIDER TO AN
EMPLOYER, IN WHICH PROVIDER VERIFIES A USER'S EARNED INCOME THROUGH DATA
OR INFORMATION PROVIDED BY OR THROUGH SUCH EMPLOYER OR SERVICE PROVIDER.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.