Bill > A01152

This bill requires the New York State Department of Labor to collect and report detailed information about federal Title XII unemployment trust fund advances requested by the governor. Specifically, the bill mandates that the department compile a comprehensive report within 30 days of any advance request, including the total dollar amount requested, the amount requested for each month of a three-month loan period, the current interest rate, the reasons for requesting the advance, any supplemental requests, the anticipated repayment date, and the potential impact on employers' federal unemployment tax (FUTA) if the loan is not repaid. The report must be submitted to key state leaders, including the governor, legislative leaders, and committee chairs, and must continue to be filed annually until the advance is fully repaid. Title XII advances are federal loans that allow states to borrow money to maintain unemployment benefits when their state unemployment trust fund is depleted, with specific provisions outlined in the Social Security Act. This bill aims to increase transparency and provide detailed tracking of such federal unemployment fund borrowing.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A1152