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NY A01058
Bill
Status
1/8/2025
Primary Sponsor
Zohran Kwame Mamdani
Click for details
AI Summary
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Amends Labor Law Section 529 to require that New York's average annual wage and average weekly wage be increased annually by the rate of inflation based on the Consumer Price Index reported by the U.S. Bureau of Labor Statistics
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Inflation adjustment only applies when the rate is greater than zero, preventing downward adjustments during deflationary periods
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The Commissioner must determine these wage figures by May 31st of each year, with the inflation adjustment applied to the previous calendar year's data
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Takes effect on January 1st 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
enacting clause stricken
1/5/2026