Provides that to achieve cost savings to businesses and the state, improve decision timeliness, and minimize wrong-sized payments to eligible beneficiaries the department of labor shall obtain current employment and income information from a third-party provider, supplementing current state wage reporting files from the department of taxation and finance.
Summary
Bill S07371 seeks to amend the New York labor law by allowing the Department of Labor to obtain current employment and income information from a third-party provider. This is intended to supplement existing state wage reporting files maintained by the Department of Taxation and Finance. The primary goals of the bill are to achieve cost savings for businesses and the state, improve the timeliness of decision-making regarding unemployment insurance, and reduce instances of incorrect payments to eligible beneficiaries.
Impact
If enacted, this bill would modify the way wage reporting is conducted in New York, potentially streamlining the process for unemployment insurance claims. By incorporating third-party data, the state aims to enhance the accuracy of income verification, which could lead to more efficient processing of claims and reduced financial losses due to overpayments. This change may also affect the relationship between the Department of Labor and third-party data providers, as well as the Department of Taxation and Finance's role in wage reporting.
Sentiment
The sentiment surrounding Bill S07371 appears to be cautiously optimistic, with proponents highlighting the potential for improved efficiency and cost savings. However, there may be concerns regarding data privacy and the reliability of third-party information, which could lead to a mixed reception among stakeholders. As the bill progresses through the legislative process, further discussions may clarify these sentiments.
Contention
Notable points of contention may arise regarding the use of third-party data, particularly concerning data privacy and the accuracy of the information provided. Critics may argue that relying on external sources could lead to inaccuracies in wage reporting, while supporters emphasize the need for modernization and efficiency in the unemployment insurance system. Stakeholders from both sides of the debate are likely to voice their opinions as the bill moves forward.
Same As
Provides that to achieve cost savings to businesses and the state, improve decision timeliness, and minimize wrong-sized payments to eligible beneficiaries the department of labor shall obtain current employment and income information from a third-party provider, supplementing current state wage reporting files from the department of taxation and finance.
Provides that to achieve cost savings to businesses and the state, improve decision timeliness, and minimize wrong-sized payments to eligible beneficiaries the department of labor shall obtain current employment and income information from a third-party provider, supplementing current state wage reporting files from the department of taxation and finance.
Allows the department of financial services to have additional oversight of banks and insurance companies that are not currently licensed in this state; provides penalties for violations.
Establishes the transitional wage insurance program under which the department of labor provides temporary supplemental payments to eligible individuals who accept new employment at a lower wage than their prior employment.
Concerning the classification of school-to-work alliance program cost payments to the department of labor and employment from the department of education.
Requires the commissioner of labor to prepare an annual report on the cost of living, poverty rates and adequacy of the current minimum wage in the state.
Provides that the department of taxation and finance shall be permitted to share with the office of the state comptroller a person's address, based on such person's most recently filed tax return, for the purpose of returning unclaimed funds to such person.
Freezes minimum wage automatic escalators and annual inflation adjustments beginning in 2027; repeals the provision of law providing that the minimum wage shall be determined by increasing the then current year's minimum wage rate by the rate of change in the average of the three most recent consecutive twelve-month periods between the first of August and the thirty-first of July, each over their preceding twelve-month periods published by the United States department of labor non-seasonally adjusted consumer price index for the northeast region urban wage earners and clerical workers (CPI-W) or any successor index as calculated by the United States department of labor.
Provides that the department of taxation and finance shall be permitted to share with the office of the state comptroller a person's address, based on such person's most recently filed tax return, for the purpose of returning unclaimed funds to such person.