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NY A09585
Bill
Status
Introduced
1/21/2026
Primary Sponsor
William Barclay
Click for details
AI Summary
- Creates the New York Small Business Child and Dependent Care Savings Program, a state-administered payroll deduction savings plan for employees of businesses with 1-100 employees
- Requires participating employers to establish payroll deposit arrangements allowing employees to contribute a portion of wages to dependent care savings accounts
- Administered jointly by the Commissioner of Labor and State Comptroller, who must design the program consistent with IRS Sections 125 and 129 for tax-advantaged flexible benefits
- Enrollment must begin within 12 months of the effective date, with annual open enrollment periods for employees who previously opted out
- Exempts the state and participating employers from fiduciary liability for the program; employers bear no responsibility for employee participation decisions or program administration
Legislative Description
Establishes the small business child and dependent care savings program; provides the basic framework therefor.
Last Action
referred to small business
1/21/2026
Committee Referrals
Small Business1/21/2026
Full Bill Text
No bill text available