A 1148: Suspends employer contributions to the interest assessment surcharge fund until December 31, 2027.

  
  STATE OF NEW YORK ________________________________________________________________________ 1148 2025-2026 Regular Sessions  IN ASSEMBLY January 9, 2025 ___________ Introduced by M. of A. RA, BARCLAY, SIMPSON, MANKTELOW, DeSTEFANO, JENSEN, GALLAHAN, HAWLEY, DURSO, TANNOUSIS, MIKULIN, MORINELLO, TAGUE, ANGELINO, LEMONDES, GIGLIO, SLATER, FRIEND -- read once and referred to the Committee on Labor 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-seven. 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 This act shall take effect immediately; provided, however, that 11 this act shall expire and be deemed repealed on and after December 31, 12 2027. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00693-01-5