S 6767: Suspends employer contributions to the interest assessment surcharge fund until December 31, 2027.

  
  STATE OF NEW YORK ________________________________________________________________________ 6767 2025-2026 Regular Sessions  IN SENATE March 24, 2025 ___________ Introduced by Sen. BORRELLO -- read twice and ordered printed, and when printed to be committed to the Committee on Finance 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 This act shall take effect immediately; provided, however, that 11 this act shall expire and be deemed repealed on and after December 31, 12 2027.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