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Senate Bill S1638

2025-2026 Legislative Session

Enacts the "New York Business Emergency Relief Act of 2025"

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Current Bill Status - In Senate Committee Finance Committee

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2025-S1638 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
General Business
Versions Introduced in 2023-2024 Legislative Session:
S6593

2025-S1638 (ACTIVE) - Summary

Enacts the "New York Business Emergency Relief Act"; directs the governor to use unallocated settlement funds reserved in the economic uncertainties, and any further settlement money received by the state or state surplus funds to pay the debt to the federal unemployment insurance trust fund.

2025-S1638 (ACTIVE) - Sponsor Memo

2025-S1638 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1638
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2025
                                ___________
 
 Introduced by Sens. BORRELLO, ASHBY, MURRAY, OBERACKER -- read twice and
   ordered  printed, and when printed to be committed to the Committee on
   Finance
 
 AN ACT in relation to enacting the "New York Business  Emergency  Relief
   Act of 2025"
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title. This act shall be known and may  be  cited  as
 the "New York Business Emergency Relief Act of 2025".
   §  2.  Legislative  intent. The legislature recognizes that New York's
 businesses are instrumental to the state's economy and  to  the  state's
 recovery  from  the  COVID-19 pandemic. New York state's policies during
 the pandemic have already harmed  businesses  enough  and  the  interest
 assessment surcharge being levied on New York businesses at this time is
 an unnecessary and burdensome tax that New York state can end. It is the
 state's  obligation  to  remove this burden from New York businesses and
 pay its debts owed to the federal government for the  federal  unemploy-
 ment  insurance  trust  fund and not shift this obligation to businesses
 already struggling to recover from the pandemic.
   § 3. Funds. Notwithstanding any other law, rule and regulation to  the
 contrary,  the  governor  shall immediately direct all unallocated funds
 that are reserved in the "economic uncertainties" fund and  any  further
 settlement  money  that  may  be  received by the state or state surplus
 funds to small business relief purposes consistent with  the  intent  of
 repaying any outstanding debt owed to the federal unemployment insurance
 trust fund.
   § 4. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04934-01-5

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