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11 this act shall expire and be deemed repealed on and after December 31,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
