ALBANY— Governor Hochul has signed a bill sponsored by Senator Zellnor Myrie (D-Central Brooklyn) that will increase the fines that can be levied against corporations who break the law. These penalties for corporate wrongdoers have been frozen for six decades. Assemblymember Nily Rozic (D-Queens) sponsored the bill in the Assembly.

Corporate penalties were last set in 1965, when:

• The Beatles were touring the US
• Micky Mantle played center field for the Yankees
• "Mary Poppins" won five Oscars
• A slice of pizza cost 15 cents
• The median monthly rent in New York City was $365

"Businesses must face real consequences for taking advantage of New Yorkers and breaking our laws," said Senator Myrie, chair of the Senate Codes Committee. "But the maximum penalties for these crimes have been frozen in time since 1965. These fines must be meaningful to deter future crimes. I'm grateful to Assemblymember Rozic and to Governor Hochul for signing this bill into law."

The new law updates the maximum penalties that can be assessed against corporations for the following types of convictions:

• From $10,000 to $80,000 for a felony
• From $5,000 to $40,000 for a class A misdemeanor
• From $2,000 to $15,000 for a class B misdemeanor
• From $500 to $4,000 for a violation
• Up to three times the amount of the financial gain derived from a corporation's offense