Senate Bill S2399

Signed By Governor
2023-2024 Legislative Session

Relates to the secure choice savings program and participating individuals

download bill text pdf

Sponsored By

Current Bill Status - Signed by Governor


  • 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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2023-S2399 (ACTIVE) - Details

See Assembly Version of this Bill:
A4529
Law Section:
General Business Law
Laws Affected:
Amd §§1300, 1301, 1303, 1304, 1309 & 1310, add §1310-a, Gen Bus L
Versions Introduced in 2021-2022 Legislative Session:
S8654, A9882

2023-S2399 (ACTIVE) - Summary

Relates to the secure choice savings program and participating individuals; authorizes freelancers and the self-employed the option of enrolling in such program.

2023-S2399 (ACTIVE) - Sponsor Memo

2023-S2399 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2399
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2023
                                ___________
 
 Introduced  by  Sens.  GOUNARDES,  HARCKHAM,  JACKSON, SEPULVEDA -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee on Consumer Protection
 
 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-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01813-01-3
 S. 2399                             2
              

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