Ren §380-v to be §380-w, add §380-v, Art 42 §§1030 - 1032, Gen Bus L
 
Enacts the "New York state federal worker credit protection act" to protect furloughed federal employees from negative credit information due to a shutdown, and additionally requires financial institutions to waive late fees and provide for a stay of payments for furloughed federal workers who are materially affected by a shutdown.
STATE OF NEW YORK
________________________________________________________________________
8037
2019-2020 Regular Sessions
IN ASSEMBLY
May 31, 2019
___________
Introduced by M. of A. REYES -- read once and referred to the Committee
on Consumer Affairs and Protection
AN ACT to amend the general business law, in relation to enacting the
"New York state federal worker credit protection act"
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 state federal worker credit protection act".
3 § 2. Section 380-v of the general business law, as relettered by chap-
4 ter 441 of the laws of 2014, is renumbered section 380-w and a new
5 section 380-v is added to read as follows:
6 § 380-v. Reporting information of furloughed federal employees. (a) As
7 used in this section, the following terms shall have the following mean-
8 ings:
9 (1) "Furloughed federal employee" means:
10 (i) a federal or District of Columbia employee who is furloughed or
11 excepted from furlough during a shutdown; or
12 (ii) a federal contractor who, during a shutdown, is not receiving pay
13 by reason of such shutdown.
14 (2) "Shutdown" means any lapse in discretionary appropriations by the
15 federal government.
16 (b) Notwithstanding any other provision of law to the contrary and
17 upon request of a furloughed federal employee, a person that furnishes
18 information to any consumer reporting agency shall not provide negative
19 credit information of such furloughed federal employee to a consumer
20 reporting agency if the action or inaction to which such negative credit
21 information relates originated, and was rectified, during the period
22 beginning thirty days before a shutdown and ending ninety days after
23 such shutdown.
24 (c) With respect to any negative credit information described in
25 subdivision (b) of this section and upon request of the furloughed
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11955-01-9
A. 8037 2
1 federal employee to which such negative credit information relates, a
2 person that furnishes information to any consumer reporting agency shall
3 notify a consumer reporting agency that the action or inaction to which
4 such negative credit information relates occurred during the period
5 described in subdivision (b) of this section.
6 § 3. The general business law is amended by adding a new article 42 to
7 read as follows:
8 ARTICLE 42
9 PROTECTIONS FOR FURLOUGHED FEDERAL EMPLOYEES
10 Section 1030. Definitions.
11 1031. Waiver of late fees.
12 1032. Stay of payments during a shutdown.
13 § 1030. Definitions. As used in this section the following terms shall
14 have the following meanings:
15 1. "Furloughed federal employee" means:
16 (a) a federal or District of Columbia employee who is furloughed or
17 excepted from furlough during a shutdown; or
18 (b) a federal contractor who, during a shutdown, is not receiving pay
19 by reason of such shutdown.
20 2. "Shutdown" means any lapse in discretionary appropriations by the
21 federal government.
22 § 1031. Waiver of late fees. Any entity regulated by the department of
23 financial services shall waive any fine or penalty a furloughed federal
24 employee owes or would owe during the duration of a shutdown based upon
25 the inability of such furloughed federal employee to pay a civil obli-
26 gation or other liability due to such shutdown. The department of finan-
27 cial services shall promulgate rules and regulations regarding the
28 documentation to be provided by a furloughed federal employee to demon-
29 strate such inability.
30 § 1032. Stay of payments during a shutdown. A furloughed federal
31 employee may apply to a court for a temporary stay, postponement, or
32 suspension with respect to any payment of a civil obligation or liabil-
33 ity that the furloughed federal employee owes or would owe during the
34 duration of the shutdown. A court shall grant such temporary stay, post-
35 ponement, or suspension upon a determination that the ability of such
36 furloughed federal employee to perform the obligation was materially
37 affected by the shutdown.
38 § 4. This act shall take effect immediately.