senate Bill S6728

2019-2020 Legislative Session

Provides for a study regarding insurance or other risk mitigation tools and third-party payroll service providers

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Sponsored By

Current Bill Status - Passed Senate


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

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Actions

view actions (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 28, 2020 referred to insurance
delivered to assembly
passed senate
Jan 15, 2020 advanced to third reading
Jan 14, 2020 2nd report cal.
Jan 13, 2020 1st report cal.73
Jan 08, 2020 referred to insurance
Sep 18, 2019 referred to rules

Co-Sponsors

S6728 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Financial Services

S6728 (ACTIVE) - Summary

Requires the department of financial services, in consultation with the department of taxation and finance, to conduct a study regarding insurance or other risk mitigation tools and third-party payroll service providers; provides that the superintendent of financial services shall submit a report to the governor, the temporary president of the senate and the speaker of the assembly of the department's findings, conclusions, and recommendations.

S6728 (ACTIVE) - Sponsor Memo

S6728 (ACTIVE) - Bill Text download pdf

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

                                  6728

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                           September 18, 2019
                               ___________

Introduced  by  Sen. BRESLIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT in relation to requiring the department of financial services, in
  consultation with the department of taxation and finance, to conduct a
  study regarding insurance or other risk mitigation  tools  and  third-
  party payroll service providers

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

  Section 1. 1. The superintendent of financial services,  in  consulta-
tion  with  the  commissioner  of taxation and finance, shall review the
adequacy of employee protections and small business employer protections
in the payroll services industry.  The superintendent shall make  recom-
mendations  regarding  the  same.   Such review shall include but not be
limited to:
  (a) the present state of employee protections in the payroll  services
industry;
  (b)  the  present  state of small business employer protections in the
payroll services industry;
  (c) the incidence of fraud or misappropriation of payroll funds in the
payroll services industry;
  (d) the number of small  businesses  in  New  York  that  use  payroll
service providers;
  (e) the number and size of payroll service providers in New York;
  (f) specific causal or facilitative facts regarding instances of fraud
or misappropriation by payroll service providers;
  (g)  the  feasibility  and  advisability  of requiring payroll service
providers to obtain insurance, post bonds, or utilize other risk manage-
ment tools to address potential situations in which payroll monies  owed
to  employees  on  behalf  of businesses are stolen, misappropriated, or
otherwise rendered unavailable after being transmitted from an  employer
to a payroll service provider or an affiliated entity; and

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13784-01-9

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