NY A10545

Employers with more than 25 employees receiving economic development benefits must file semiannual employee residency reports by February 1 and August 1 each year with the Department of Economic Development and Authorities Budget Office

Reports must include total employee counts, work hours, and average wages broken down by whether employees reside in the project's zip code or elsewhere, as well as management versus non-management classification

All semiannual employee residency reports become public records upon filing and must be disclosed under public records laws; employers must retain supporting records for 7 years (state level) or 24 months (local authorities)

The Authorities Budget Office must expand its searchable public database to include local economic development benefits data, employee residency information, job creation commitments versus actual numbers, and compliance/penalty information updated quarterly

Employers who fail to file reports or include materially false statements face enforcement actions; the COVID-19 capital costs tax credit is exempt from these reporting requirements