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Sponsors
Senator · Senate District 62
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.
Relates to coverage for members of a worker cooperative
In Assembly Committee · Labor · Sponsor Sean Ryan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5329
Title of bill
An act to amend the workers' compensation law, in relation to coverage for members of the worker cooperative
Purpose
This bill would remove a financial barrier for individuals who wish to organize a business venture as a cooperative.
Summary of specific provisions
Section 1: Members, directors, and executive officers of a Worker Coop- erative are excluded from the provisions of Section 54 of the workers compensation law unless they elect to be covered. In the case where a member elects to be covered, any premium shall be based on actual wages.
Justification
The purpose of this amendment is to address the specific circumstances of a Worker Cooperative Corporation where each member-owner of the Coop- erative is also an employee. Small business owners are allowed to exclude themselves from the provisions of
Section 54 of the workers compensation law. Currently, cooperatives are "capped" at the number of workers who can be excluded from these provisions. This law would do away with this cap and level the playing field, allow for cooperative "owners" to act as small businesses. Further, instead of using an estimated salary to compute salary, this law would use actual earnings as the bases for workers' compensation insurance. All together this greatly strengthens the overall Workers Compensation Law and enhances Worker Cooperatives.
Prior legislative history
New bill in Assembly.
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.