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NY A07802

Bill

Official Source

Status

Introduced

6/15/2023

Primary Sponsor

Zohran Kwame Mamdani

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Amends Section 529 of the Labor Law to index the "average annual wage" used in unemployment benefit calculations to inflation annually based on the Consumer Price Index
  • Amends Section 529 to also index the "average weekly wage" used in unemployment benefit calculations to inflation annually based on the Consumer Price Index
  • Requires the commissioner to determine both adjusted wage figures no later than May 31 of each year, using the previous calendar year's inflation rate from the U.S. Bureau of Labor Statistics
  • Applies inflation adjustments only when the inflation rate is greater than zero
  • Takes effect on January 1 of the year following enactment

Legislative Description

Requires that the average annual wage and average weekly wage of the state of New York, which determine the maximum cap for unemployment insurance benefits, be adjusted for inflation each year.

Last Action

referred to labor

1/3/2024

Committee Referrals

Labor6/15/2023

Full Bill Text

No bill text available