Bill Text: NY A08037 | 2019-2020 | General Assembly | Introduced

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Bill Title: Enacts the "New York state federal worker credit protection act" to protect furloughed federal employees from negative credit information due to a shutdown, and additionally requires financial institutions to waive late fees and provide for a stay of payments for furloughed federal workers who are materially affected by a shutdown.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to consumer affairs and protection [A08037 Detail]

Download: New_York-2019-A08037-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8037

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                      May 31, 2019
                                       ___________

        Introduced  by M. of A. REYES -- read once and referred to the Committee
          on Consumer Affairs and Protection

        AN ACT to amend the general business law, in relation  to  enacting  the
          "New York state federal worker credit protection act"

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Short title. This act shall be known and may  be  cited  as
     2  the "New York state federal worker credit protection act".
     3    § 2. Section 380-v of the general business law, as relettered by chap-
     4  ter  441  of  the  laws  of  2014, is renumbered section 380-w and a new
     5  section 380-v is added to read as follows:
     6    § 380-v. Reporting information of furloughed federal employees. (a) As
     7  used in this section, the following terms shall have the following mean-
     8  ings:
     9    (1) "Furloughed federal employee" means:
    10    (i) a federal or District of Columbia employee who  is  furloughed  or
    11  excepted from furlough during a shutdown; or
    12    (ii) a federal contractor who, during a shutdown, is not receiving pay
    13  by reason of such shutdown.
    14    (2)  "Shutdown" means any lapse in discretionary appropriations by the
    15  federal government.
    16    (b) Notwithstanding any other provision of law  to  the  contrary  and
    17  upon  request  of a furloughed federal employee, a person that furnishes
    18  information to any consumer reporting agency shall not provide  negative
    19  credit  information  of  such  furloughed federal employee to a consumer
    20  reporting agency if the action or inaction to which such negative credit
    21  information relates originated, and was  rectified,  during  the  period
    22  beginning  thirty  days  before  a shutdown and ending ninety days after
    23  such shutdown.
    24    (c) With respect to  any  negative  credit  information  described  in
    25  subdivision  (b)  of  this  section  and  upon request of the furloughed

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11955-01-9
        A. 8037                             2

     1  federal employee to which such negative credit  information  relates,  a
     2  person that furnishes information to any consumer reporting agency shall
     3  notify  a consumer reporting agency that the action or inaction to which
     4  such  negative  credit  information  relates  occurred during the period
     5  described in subdivision (b) of this section.
     6    § 3. The general business law is amended by adding a new article 42 to
     7  read as follows:
     8                                  ARTICLE 42
     9                PROTECTIONS FOR FURLOUGHED FEDERAL EMPLOYEES
    10  Section 1030. Definitions.
    11          1031. Waiver of late fees.
    12          1032. Stay of payments during a shutdown.
    13    § 1030. Definitions. As used in this section the following terms shall
    14  have the following meanings:
    15    1. "Furloughed federal employee" means:
    16    (a) a federal or District of Columbia employee who  is  furloughed  or
    17  excepted from furlough during a shutdown; or
    18    (b)  a federal contractor who, during a shutdown, is not receiving pay
    19  by reason of such shutdown.
    20    2. "Shutdown" means any lapse in discretionary appropriations  by  the
    21  federal government.
    22    § 1031. Waiver of late fees. Any entity regulated by the department of
    23  financial  services shall waive any fine or penalty a furloughed federal
    24  employee owes or would owe during the duration of a shutdown based  upon
    25  the  inability  of such furloughed federal employee to pay a civil obli-
    26  gation or other liability due to such shutdown. The department of finan-
    27  cial services shall  promulgate  rules  and  regulations  regarding  the
    28  documentation  to be provided by a furloughed federal employee to demon-
    29  strate such inability.
    30    § 1032. Stay of payments  during  a  shutdown.  A  furloughed  federal
    31  employee  may  apply  to  a court for a temporary stay, postponement, or
    32  suspension with respect to any payment of a civil obligation or  liabil-
    33  ity  that  the  furloughed federal employee owes or would owe during the
    34  duration of the shutdown. A court shall grant such temporary stay, post-
    35  ponement, or suspension upon a determination that the  ability  of  such
    36  furloughed  federal  employee  to  perform the obligation was materially
    37  affected by the shutdown.
    38    § 4. This act shall take effect immediately.