NY S07862

Authorizes the State Insurance Fund to cancel workers' compensation policies for employer failure to cooperate with payroll audits, in addition to non-payment of premiums and assessments.

Requires the State Insurance Fund to make at least two scheduling attempts during regular business hours and provide advance written notice before canceling for non-cooperation, and mandates a warning notice at least 15 days before cancellation.

Expands record-keeping requirements for employers to include classification of employees, information regarding employee accidents, and records relating to uncovered subcontractors, with records subject to inspection by the State Insurance Fund.

Increases criminal penalties for failing to keep required records or falsifying records, imposing fines of $5,000 to $10,000 for first offenses and Class E felony charges with fines of $10,000 to $25,000 for repeat offenders within 10 years.

Prevents employers whose policies were canceled for non-payment or audit non-cooperation from obtaining new State Insurance Fund policies until full cooperation with payroll audits is provided and all billed premiums are paid.