What's happening
This bill requires New York to study and report the real cost for families to achieve economic security.
Why it matters
Impacts every region and family type in New York. The study will break down the real cost of economic security by county and, where possible, even more locally, reflecting differences in costs of living for various family sizes and compositions across the state—from New York City to rural areas.
May influence social policy, wages, and benefits. By establishing a detailed, regularly updated benchmark of what families need to be economically secure (including costs like housing, childcare, health care, taxes, and debt), the findings could affect future debates on minimum wage, public assistance, tax credits, and other supports.
Creates a new, data-driven tool for policymakers and the public. The mandated report and “budget calculator” will provide a more accurate, comprehensive resource than existing poverty measures, helping legislators, advocates, and families understand where economic insecurity is concentrated and which policies are (or are not) working.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Low- and Moderate-Income Families
This group will be directly affected, as the study aims to identify what resources are truly needed to achieve economic security, potentially informing future benefits, supports, and policy changes that impact their daily lives.
Policy Makers and Government Agencies
Legislators, state agencies (especially the Department of Labor and social services), and local governments will use the findings to design, evaluate, and target economic security programs and interventions more effectively.
- Likely support
Advocacy Groups and Nonprofits
Organizations focused on poverty, food insecurity, housing, and economic justice will care because the TCES study provides data to support their work, advocacy, and grant applications, and helps identify gaps in current policies.
Employers and Workforce Development Organizations
These stakeholders are interested because the study may influence wage discussions, benefits planning, and training programs by identifying what wages and supports are needed for workers to achieve actual economic security across New York State.
Headline styles
Study Economic Security Costs
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to rules
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
10702
IN SENATE
September 21, 2026
Introduced by Sen. PERSAUD -- read twice and ordered printed, and when printed to be committed to the Committee on Rules
AN ACT to amend the social services law, in relation to the creation of a true cost of economic security study
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The social services law is amended by adding a new section 131-cc to read as follows:
§ 131-cc. True cost of economic security study. 1. Study established. (a) The true cost of economic security (TCES) measures how much income and other resources are needed for a family of a given composition in a given geographic location to adequately meet a comprehensive set of regular household costs, set aside savings both for future planning and for short-term emergencies, and manage debt.
(b) The TCES is a tool that can be used to: (i) create a benchmark for measuring the effectiveness of proposals, programs, and policies intended to increase economic security; (ii) identify where existing and proposed policies may be unintentionally increasing economic insecurity; (iii) assist policymakers in identifying and addressing cost areas that consume a disproportionate share of New Yorkers' resources, contributing to economic insecurity; (iv) identify geographical areas of concentrated economic insecurity and target interventions; (v) determine the wages and other resources necessary for New Yorkers to achieve economic security; and (vi) enhance online "budget calculator" tools that enable users to strategize combinations of public and private supports and subsidies, with training and education, and/or employment, to increase income and economic security.
2. Collection and analysis. The department of labor shall contract with a third party, that meets the requirements in subdivision four of this section, for the collection and analysis of data that results in the calculation of the true cost of economic security.
3. Calculation of the true cost of economic security measure. (a) The true cost of economic security measure shall: (i) determine the resources required to reach a base level of economic security; (ii)
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06134-03-6
account for family size, composition, and geography to the county level; (iii) utilize, to the extent such information is available, the most up-to-date costs of housing, a reasonable food budget, regionally specific transportation, health care, including premiums and out-ofpocket expenses, center-based child care, technology, taxes, including local, state and federal taxes, and service of certain types of debt as well as other miscellaneous costs required to fully engage in today's economy and society; (iv) account for income from labor earnings and self-employment income, government social insurance programs like Social Security, Medicare, Medicaid, and SNAP, tax credits, including local, state, and federal tax credits, as well as employer-provided health care contributions; and (v) include a savings target no less than that included in the most recent national true cost of economic security measure.
(b) In calculating the true cost of economic security, the contractor shall utilize, to the extent practicable, data that is county-level and nationally standardized, calculated annually, and from reliable government or academic/scholarly sources, such as the United States census bureau, United States department of housing and urban development, or any other data reported to state and federal agencies using standardized methodology. State or local data may be utilized where such data is more targeted, granular, or comprehensive than available federal sources. Data should be disaggregated demographically, geographically, by county and, where available, by sub-county areas, for every region in the state.
4. Third-party contractor. In selecting a third-party contractor, the department of labor may consider the potential contractor's years of experience; the number of calculations performed for other states; the record of having produced such calculations and reports within the budget and time constraints of previous contracts; the relevant skills, experience, and education of the contractor's personnel; whether the contractor is located in or affiliated with a college or university; and such other factors as the department of labor deems relevant and appropriate to evaluate the qualifications of such third-party contractor.
5. Report. The department of labor shall submit a report of the findings required in subdivisions two and three of this section to the governor, the speaker of the assembly and the temporary president of the senate, no later than one year after the effective date of this section and biennially thereafter.
§ 2. This act shall take effect on the first of April next succeeding the date on which it shall have become a law.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the social services law, in relation to the creation of a true cost of economic security study
Purpose
This purpose of this bill is to establish a True Cost of Economic Secu- rity (TCES) measure for New York state that will provide a comprehen- sive, geographically specific assessment of the resources required for households to meet their needs and maintain modest savings, foundations of economic stability.
Summary
Section 1 amends the social services law by adding a new section 131-cc. This new section establishes the True Cost of Economic Security (TCES) study, collection and analysis of the study data, calculation of the TCES measure, selection criteria for a third-party contractor, and reporting guidelines.
Section 2 provides for the effective date.
Justification
Traditional economic indicators, including the federal poverty level, do not adequately reflect the actual cost of living or the resources required for households to survive and thrive in New York State. These measures fail to account for the full range of expenses that families must meet, including housing, child care, health care, food, and trans- portation, and the need to save for emergencies and long-term stability. The continued reliance on these inadequate measures substantially under- states the number of New Yorkers struggling to attain true economic security and hinders the ability of government to effect responsive policies.
In 2024, the Urban Institute released a True Cost of Economic Security (TCES) measure, which provides a comprehensive view of households' costs and resources detailed at the county level. This research found that the majority of New Yorkers lack the resources needed to meet this set of basic recurring household expenses, manage debt, and save for the future, despite many working full time and earning above minimum wage and more than the federal poverty thresholds. The rate of economic inse- curity in New York State (54%) was found to be higher than the national average (52%).
In 2022, a charter revision mandating an annual report calculating the true cost of living was passed by 81 percent of the vote in New York City. But costs and resources affecting economic security vary signif- icantly across the state, including differences in labor markets, hous- ing markets, child care costs, and other necessary expenses. These vari- ations result in substantial disparities within geographic, occupational, racial, and gender contexts. Without an accurate measure that accounts for these differences tied to localized data across the state, these disparities remain hidden from policymakers.
It is the intent of this bill to establish a True Cost of Economic Secu- rity measure for New York State that will provide a comprehensive, geographically specific assessment of the resources required for house- holds to meet their needs and maintain modest savings, the foundations of economic stability. Such a measure will enable policymakers to better understand the costs New Yorkers face and how they earn and spend their resources, identify disparities across regions, occupations, demograph- ics, household types, and sectors, and develop policies and programs that more effectively promote true economic security.
Prior legislative history
New bill
Fiscal implications
To be determined.
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.