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Sponsors
No co-sponsors yet.
History
- Referred to labor
- Referred to labor
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Directs the commissioner of labor to study the feasibility of developing and implementing an insurance plan to provide benefits to certain unemployed persons
In Assembly Committee · Labor · Sponsor Karim Camara
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to direct the commissioner of labor, in consultation with the superintendent of insurance, to study the feasibility of developing and implementing an insurance plan to provide benefits to unemployed persons upon the expiration of unemployment benefits; and providing for the repeal of such provisions upon expiration thereof
Purpose or general idea of bill
Authorizes the commissioner of labor to study the feasibility of developing an insurance plan for unemployed youth and those unemployed who have to seek public assistance.
Summary of specific provisions
JUSTIFICATION : The continuous downsizing of employees by the public and private sectors has created great concerns relative to long term stability in employment. A recent study indicated that projected job employment for persons under age 40 will average 4 1/2 years per employment placement. This employment instability is further aggravated by actual and projected exportation of domestic jobs.
This legislation responds to the urgent need to create an insurance plan that addresses the real problems of the modern workforce. Such a plan would lessen the burden of public support, and provide for the stable financial management of dislocated employees. Said insurance plan would trigger upon the expiration of unemployment benefits if the condition prevails. contributions to the insurance program would derive from deductions through employees' salaries. Such deductions would be no more than 10% of annual salary. Unspent accounts would be refunded after 55. The thrust of this legislation is to authorize the commissioner to develop a feasibility study of an insurance plan which will provide employees with insurance against job insecurity.
Prior legislative history
This is a new bill.
Fiscal implications
Minimal cost to the state. In the long term, more unemployed people will have a personal insurance fund to access instead of resorting to public assistance.
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.