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Who cares
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Sponsors
No co-sponsors yet.
History
- Held for consideration in labor
- Referred to labor
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10291
Title of bill
An act to amend the workers' compensation law, in relation to the accrual of interest in workers' compensation disputes
Purpose
To not start the accrual of interest in disputed workers' compensation cases until after the final dispute has been resolved
Summary of provisions
This bill amends the workers' compensation law by adding a new section 20-a to say that not withstanding any law, rule or regulation to the contrary, interest shall not begin to accrue until a final dispute resolution has been made in cases or controversies commenced
It also amends Section 1. Subdivision 1 of section 20 of the workers' compensation law to reference the new section 20-a
Justification
Currently, when businesses are assessed a fine related to workers compensation interest on the unpaid fine begins early in the process. If the fine is disputed and eventually resolved any interest accrued during the dispute must be paid in addition to the original fine. The added cost of paying interest on a fine over a long period of time creates an additional hardship on small businesses. This legis- lation would move the date in which interest begins to accrue to the date in which the dispute reaches final resolution.
Legislative history
NEW BILL
Fiscal implications
None.
Effective date
This act shall take effect immediately
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.