Assembly Bill A9882A

2021-2022 Legislative Session

Relates to the secure choice savings program and participating individuals

download bill text pdf

Sponsored By

Archive: Last Bill Status - Passed Senate & Assembly


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

2021-A9882 - Details

See Senate Version of this Bill:
S8654
Law Section:
General Business Law
Laws Affected:
Amd §§1300, 1301, 1303, 1304, 1309 & 1310, add §1310-a, Gen Bus L
Versions Introduced in 2023-2024 Legislative Session:
A4529, S2399

2021-A9882 - Summary

Relates to the secure choice savings program and participating individuals.

2021-A9882 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9882
 
                           I N  A S S E M B L Y
 
                              April 19, 2022
                                ___________
 
 Introduced by M. of A. STIRPE -- read once and referred to the Committee
   on Governmental Employees
 
 AN  ACT  to  amend  the  general business law, in relation to the secure
   choice savings program and participating individuals
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Section  1300  of  the  general business law, as added by
 section 2 of part X of chapter 55 of the laws of 2018 and subdivisions 4
 and 8 as amended by chapter 452 of the laws of 2021, is amended to  read
 as follows:
   §  1300.  Definitions.  All  terms shall have the same meaning as when
 used in a comparable context in the Internal Revenue Code.  As  used  in
 this article, the following terms shall have the following meanings:
   1. "Board" shall mean the New York secure choice savings program board
 established under this article.
   2. "Superintendent" shall mean the superintendent of the department of
 financial services.
   2-a.  "Commissioner"  shall  mean  the  commissioner  of  taxation and
 finance.
   2-b. "Comptroller" shall mean the comptroller of the state.
   3. "Employee" shall mean any individual who is eighteen years  of  age
 or  older,  who is employed by an employer, and who earned wages working
 for an employer in New York state during a calendar year.
   4. "Employer" shall mean a person or entity  engaged  in  a  business,
 industry,  profession,  trade,  or  other  enterprise in New York state,
 whether for profit or not for profit, that (i) has at all  times  during
 the previous calendar year employed at least ten employees in the state,
 (ii)  has been in business at least two years, and (iii) has not offered
 a qualified retirement plan, including, but not limited to, a plan qual-
 ified under sections 401(a), 401(k), 403(a), 403(b), 408(k),  408(p)  or
 457(b) of the Internal Revenue Code of 1986 in the preceding two years.
   5. "Enrollee" shall mean any employee who is enrolled in the program.
   6.  "Internal  Revenue  Code"  shall mean the Internal Revenue Code of
 1986, or any successor law, in effect for the calendar year.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2021-A9882A (ACTIVE) - Details

See Senate Version of this Bill:
S8654
Law Section:
General Business Law
Laws Affected:
Amd §§1300, 1301, 1303, 1304, 1309 & 1310, add §1310-a, Gen Bus L
Versions Introduced in 2023-2024 Legislative Session:
A4529, S2399

2021-A9882A (ACTIVE) - Summary

Relates to the secure choice savings program and participating individuals.

2021-A9882A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9882--A
 
                           I N  A S S E M B L Y
 
                              April 19, 2022
                                ___________
 
 Introduced  by M. of A. STIRPE, McDONALD, ENGLEBRIGHT, DICKENS, LUPARDO,
   REYES, HEVESI, BURGOS, GLICK, SIMON -- read once and referred  to  the
   Committee  on  Governmental  Employees  --  committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 AN  ACT  to  amend  the  general business law, in relation to the secure
   choice savings program and participating individuals
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  1300  of  the  general business law, as added by
 section 2 of part X of chapter 55 of the laws of 2018 and subdivisions 4
 and 8 as amended by chapter 452 of the laws of 2021, is amended to  read
 as follows:
   §  1300.  Definitions.  All  terms shall have the same meaning as when
 used in a comparable context in the Internal Revenue Code.  As  used  in
 this article, the following terms shall have the following meanings:
   1. "Board" shall mean the New York secure choice savings program board
 established under this article.
   2. "Superintendent" shall mean the superintendent of the department of
 financial services.
   2-a.  "Commissioner"  shall  mean  the  commissioner  of  taxation and
 finance.
   2-b. "Comptroller" shall mean the comptroller of the state.
   3. "Employee" shall mean any individual who is eighteen years  of  age
 or  older,  who is employed by an employer, and who earned wages working
 for an employer in New York state during a calendar year.
   4. "Employer" shall mean a person or entity  engaged  in  a  business,
 industry,  profession,  trade,  or  other  enterprise in New York state,
 whether for profit or not for profit, that (i) has at all  times  during
 the previous calendar year employed at least ten employees in the state,
 (ii)  has been in business at least two years, and (iii) has not offered
 a qualified retirement plan, including, but not limited to, a plan qual-
 ified under sections 401(a), 401(k), 403(a), 403(b), 408(k),  408(p)  or
 457(b) of the Internal Revenue Code of 1986 in the preceding two years.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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