NY A07911

Increases the maximum weekly unemployment insurance benefit to one-half of the state average weekly wage, calculated annually by the department as of July 1st of each year beginning July 1, 2024.

Modifies the wage base cap for unemployment insurance contributions, establishing $12,500 for January 2022 and $13,500 for January 2026 and thereafter, with the department calculating future amounts based on funding needs for the unemployment insurance trust fund.

Removes the previous tiered percentage-based maximum benefit structure (ranging from 36% to 50% of average weekly wage) that was set to increase incrementally through October 2026.

Changes the rounding method for weekly benefit amounts from "lowered to" the next multiple of one dollar to allow rounding to the nearest dollar.

Takes effect immediately upon enactment, with the wage base provisions effective 30 days after becoming law, and applies to all claims filed after the effective date.