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Assembly Bill A1148

2025-2026 Legislative Session

Suspends employer contributions to the interest assessment surcharge fund; appropriation

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2025-A1148 (ACTIVE) - Details

See Senate Version of this Bill:
S6767
Current Committee:
Assembly Labor
Law Section:
Labor Law
Laws Affected:
Amd §581-d, Lab L
Versions Introduced in Other Legislative Sessions:
2021-2022: A7211
2023-2024: A2982

2025-A1148 (ACTIVE) - Summary

Suspends employer contributions to the interest assessment surcharge fund until December 31, 2027.

2025-A1148 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1148
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 9, 2025
                                ___________
 
 Introduced  by  M.  of  A.  RA,  BARCLAY, SIMPSON, MANKTELOW, DeSTEFANO,
   JENSEN, GALLAHAN, HAWLEY, DURSO, TANNOUSIS, MIKULIN, MORINELLO, TAGUE,
   ANGELINO, LEMONDES, GIGLIO, SLATER, FRIEND -- read once  and  referred
   to the Committee on Labor
 
 AN  ACT  to  amend  the  labor  law,  in relation to suspending employer
   contributions to the interest assessment  surcharge  fund;  making  an
   appropriation  to  pay interest due on advances from the federal unem-
   ployment account; and providing for the repeal of such provisions upon
   the expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 581-d of the labor law is amended by adding a new
 subdivision 3 to read as follows:
   3. THE PROVISIONS CONTAINED IN THIS SECTION SHALL BE  SUSPENDED  UNTIL
 DECEMBER THIRTY-FIRST, TWO THOUSAND TWENTY-SEVEN.
   §  2. The sum of five hundred million dollars ($500,000,000) is hereby
 appropriated from the Economic Uncertainties Fund  for  the  purpose  of
 paying  interest  due  on advances from the federal unemployment account
 under Title XII of the Social Security Act (42 U.S. Code  Sections  1321
 to 1324) during any period that such interest will accrue.
   §  3.  This act shall take effect immediately; provided, however, that
 this act shall expire and be deemed repealed on and after  December  31,
 2027.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00693-01-5

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