Bill Text: NY S08306 | 2021-2022 | General Assembly | Introduced


Bill Title: Relates to requiring the department of labor to collect and report certain information regarding requests from the governor or his or her authorized agent for federal Title XII advances for the state unemployment trust fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-02-10 - REFERRED TO LABOR [S08306 Detail]

Download: New_York-2021-S08306-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          8306

                    IN SENATE

                                    February 10, 2022
                                       ___________

        Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Labor

        AN ACT to amend the labor law, in relation to requiring  the  department
          of  labor to collect and report certain information regarding requests
          from the governor or his or her authorized agent for federal Title XII
          advances for the state unemployment trust fund

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

     1    Section  1.  Section  550  of the labor law is amended by adding a new
     2  subdivision 5 to read as follows:
     3    5. (a) The department  shall  collect  the  following  data  regarding
     4  requests  from  the  governor or his or her authorized agent for federal
     5  Title XII advances for the state unemployment trust fund,  as  permitted
     6  by section 1201 of the federal social security act, and compile a report
     7  that includes the following:
     8    (i)  the  total  dollar amount requested by the governor or his or her
     9  authorized agent for federal Title XII advances pursuant to section 1201
    10  (a)(1)(A) of the federal social security act;
    11    (ii) the advance requested for each individual month of the three-con-
    12  secutive-month loan period as required by section 1201 (a)(1)(A) of  the
    13  federal social security act;
    14    (iii)  the current interest rate applied to any state advance received
    15  by the governor or his or her authorized agent as defined by the  United
    16  States government or its agent;
    17    (iv)  a  descriptive list of the reason or reasons the governor or his
    18  or her authorized agent requested such state advance;
    19    (v) any supplemental or amended requests for advances in any month  in
    20  which  it  is determined that the previously approved amount is insuffi-
    21  cient to meet benefit payment obligations;
    22    (vi) the anticipated repayment date of any state advance  received  by
    23  the governor or his or her authorized agent;
    24    (vii)  a  descriptive list of the impact on employers that the state's
    25  failure to repay such loan would have according  to  federal  Title  XII

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08073-01-1

        S. 8306                             2

     1  advances  in relation to the reduction of their federal unemployment tax
     2  act (FUTA) tax; and
     3    (viii)  any  other  information the commissioner may deem necessary to
     4  include in such report.
     5    (b) The department shall submit  such  report  to  the  governor,  the
     6  speaker  of  the  assembly,  the  temporary president of the senate, the
     7  assembly minority leader, the senate minority leader, the chairperson of
     8  the assembly ways and means committee and the chairperson of the  senate
     9  finance committee no later than thirty days after the governor or his or
    10  her  authorized  agent submits a request for a federal Title XII advance
    11  from the United States secretary of labor, and shall continue to  report
    12  the   information  required  by  this  subdivision  annually  until  the
    13  outstanding federal Title XII advance is repaid in full.
    14    § 2. This act shall take effect immediately.
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