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Assembly Bill A4657

2023-2024 Legislative Session

Relates to employer contributions to the unemployment insurance fund and establishes the unemployment insurance solvency reserve fund

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Archive: Last Bill Status - In Assembly Committee

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2023-A4657 (ACTIVE) - Details

See Senate Version of this Bill:
S4551
Current Committee:
Assembly Labor
Law Section:
Labor Law
Laws Affected:
Amd §581-a, Lab L; add §92-kk, St Fin L
Versions Introduced in Other Legislative Sessions:
2021-2022: A8627, S7431
2025-2026: S210

2023-A4657 (ACTIVE) - Summary

Provides for the rate of employer contributions to the unemployment insurance fund in the 2024 fiscal year; establishes the unemployment insurance solvency reserve fund.

2023-A4657 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4657
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 21, 2023
                                ___________
 
 Introduced  by M. of A. MCGOWAN -- read once and referred to the Commit-
   tee on Labor
 
 AN ACT to amend the labor law and the state finance law, in relation  to
   employer  contributions  to the unemployment insurance fund and estab-
   lishing the unemployment insurance solvency reserve fund

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 581-a of the labor law is amended by adding a new
 subdivision 3-a to read as follows:
   3-A. NOTWITHSTANDING THE PROVISIONS OF SECTION FIVE HUNDRED EIGHTY-ONE
 OF THIS TITLE TO THE CONTRARY AND NOTWITHSTANDING THE ACTUAL SIZE OF THE
 FUND INDEX, THE RATE OF CONTRIBUTION FOR A QUALIFIED EMPLOYER IN THE TWO
 THOUSAND TWENTY-FOUR FISCAL YEAR SHALL BE THE PERCENTAGE  SHOWN  IN  THE
 COLUMN  HEADED BY THE SIZE OF THE FUND INDEX AT FIVE PERCENT OR MORE AND
 ON THE SAME LINE WITH HIS OR HER NEGATIVE OR POSITIVE EMPLOYER'S ACCOUNT
 PERCENTAGE PURSUANT TO SUBDIVISION TWO OF SECTION FIVE  HUNDRED  EIGHTY-
 ONE  OF THIS TITLE, UNLESS USING THE ACTUAL SIZE OF THE FUND INDEX WOULD
 RESULT IN A LOWER RATE OF CONTRIBUTION FOR AN EMPLOYER,  IN  WHICH  CASE
 SUCH EMPLOYER SHALL BE LIABLE FOR SUCH LOWER RATE OF CONTRIBUTION.
   § 2. The state finance law is amended by adding a new section 92-kk to
 read as follows:
   §  92-KK.  UNEMPLOYMENT  INSURANCE SOLVENCY RESERVE FUND.  1. THERE IS
 HEREBY ESTABLISHED IN THE STATE TREASURY A  FUND  TO  BE  KNOWN  AS  THE
 "UNEMPLOYMENT  INSURANCE SOLVENCY RESERVE FUND". SUCH FUND SHALL CONSIST
 OF MONEYS DEPOSITED THERE AND MONEYS SHALL BE WITHDRAWN FROM  SUCH  FUND
 ONLY FOR THE PURPOSES AS PROVIDED THEREIN.
   2.  SUCH  FUND  MAY  CONSIST  OF  BUT NOT BE LIMITED TO, DISCRETIONARY
 FEDERAL FUNDS DESIGNATED AS RECOVERY FUNDS DURING A PERIOD  OF  ECONOMIC
 DOWNTURN  AND NON-RECURRING STATE FUNDS DERIVED FROM SETTLEMENT PROCEEDS
 AND OTHER SOURCES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09103-01-3
 A. 4657                             2

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