Bill Text: NY A07211 | 2021-2022 | General Assembly | Introduced

Bill Title: Suspends employer contributions to the interest assessment surcharge fund until December 31, 2023.

Spectrum: Partisan Bill (Republican 22-0)

Status: (Introduced) 2022-05-11 - held for consideration in labor [A07211 Detail]

Download: New_York-2021-A07211-Introduced.html

                STATE OF NEW YORK


                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                     April 29, 2021

        Introduced  by M. of A. RA -- read once and referred to the Committee on

        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:

     1    Section 1. Section 581-d of the labor law is amended by adding  a  new
     2  subdivision 3 to read as follows:
     3    3.  The  provisions contained in this section shall be suspended until
     4  December thirty-first, two thousand twenty-three.
     5    § 2. The sum of five hundred million dollars ($500,000,000) is  hereby
     6  appropriated  from  the  Economic  Uncertainties Fund for the purpose of
     7  paying interest due on advances from the  federal  unemployment  account
     8  under  Title  XII of the Social Security Act (42 U.S. Code Sections 1321
     9  to 1324) during any period that such interest will accrue.
    10    § 3. This act shall take effect immediately; provided,  however,  that
    11  this  act  shall expire and be deemed repealed on and after December 31,
    12  2023.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.