S 1638: Enacts the "New York Business Emergency Relief Act"; directs the governor to use unallocated settlement funds reserved in the economic uncertainties, and any further settlement money received by the state or state surplus funds to pay the debt to the federal unemployment insurance trust fund.

  
  STATE OF NEW YORK ________________________________________________________________________ 1638 2025-2026 Regular Sessions  IN SENATE January 13, 2025 ___________ Introduced by Sens. BORRELLO, ASHBY, MURRAY, OBERACKER -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT in relation to enacting the "New York Business Emergency Relief Act of 2025" 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 Business Emergency Relief Act of 2025". 3 § 2. Legislative intent. The legislature recognizes that New York's 4 businesses are instrumental to the state's economy and to the state's 5 recovery from the COVID-19 pandemic. New York state's policies during 6 the pandemic have already harmed businesses enough and the interest 7 assessment surcharge being levied on New York businesses at this time is 8 an unnecessary and burdensome tax that New York state can end. It is the 9 state's obligation to remove this burden from New York businesses and 10 pay its debts owed to the federal government for the federal unemploy- 11 ment insurance trust fund and not shift this obligation to businesses 12 already struggling to recover from the pandemic. 13 § 3. Funds. Notwithstanding any other law, rule and regulation to the 14 contrary, the governor shall immediately direct all unallocated funds 15 that are reserved in the "economic uncertainties" fund and any further 16 settlement money that may be received by the state or state surplus 17 funds to small business relief purposes consistent with the intent of 18 repaying any outstanding debt owed to the federal unemployment insurance 19 trust fund. 20 § 4. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04934-01-5