Bill Text: NY A02911 | 2023-2024 | 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 2-0)
Status: (Introduced) 2024-01-03 - referred to labor [A02911 Detail]
Download: New_York-2023-A02911-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2911 2023-2024 Regular Sessions IN ASSEMBLY February 1, 2023 ___________ Introduced by M. of A. RA, J. A. GIGLIO -- read once and referred 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; EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00588-01-3A. 2911 2 1 (vii) a descriptive list of the impact on employers that the state's 2 failure to repay such loan would have according to federal Title XII 3 advances in relation to the reduction of their federal unemployment tax 4 act (FUTA) tax; and 5 (viii) any other information the commissioner may deem necessary to 6 include in such report. 7 (b) The department shall submit such report to the governor, the 8 speaker of the assembly, the temporary president of the senate, the 9 assembly minority leader, the senate minority leader, the chairperson of 10 the assembly ways and means committee and the chairperson of the senate 11 finance committee no later than thirty days after the governor or his or 12 her authorized agent submits a request for a federal Title XII advance 13 from the United States secretary of labor, and shall continue to report 14 the information required by this subdivision annually until the 15 outstanding federal Title XII advance is repaid in full. 16 § 2. This act shall take effect immediately.
