Bill > S00210

This bill addresses two key provisions related to unemployment insurance in New York for the 2026 fiscal year. First, it modifies the employer contribution rates to the unemployment insurance fund by allowing employers to use a potentially more favorable contribution rate calculation based on the fund index, ensuring they pay the lowest possible rate. Second, the bill establishes a new "unemployment insurance solvency reserve fund" in the state treasury, which can be funded through various sources such as discretionary federal recovery funds, non-recurring state funds, and other appropriated amounts. The reserve fund can be used specifically under three conditions: when the unemployment insurance fund has borrowed money from the federal government to pay benefits, when the federal government has imposed an interest assessment surcharge on New York for these loans, and when the federal government is in the process of recovering the principal of such loans. The purpose of this fund appears to be to provide financial flexibility and support during economic downturns and to help manage potential federal loan repayments for unemployment benefits.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S210