Bill > A01148

This bill temporarily suspends employer contributions to the interest assessment surcharge fund until December 31, 2027, and appropriates $500 million from the Economic Uncertainties Fund to pay interest on federal unemployment account advances. These advances are loans from the federal government under Title XII of the Social Security Act, which helps states manage unemployment insurance funding during economic challenges. Specifically, the bill amends the labor law to pause employer contributions to a specific fund and allocates a significant sum to cover the interest payments on federal unemployment loans. The bill will take effect immediately but is set to automatically expire on December 31, 2027, at which point the original provisions will be reinstated unless further legislative action is taken. This approach provides temporary financial relief to employers while ensuring the state can meet its obligations to the federal unemployment account.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A1148