New York S 6648: Includes participation in a banking development district as a factor when assessing a banking institution's record of performance

Bill Text

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S06648 Summary:

BILL NOS06648 

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SAME ASNo Same As

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SPONSORSANDERS

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COSPNSR

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MLTSPNSR

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Add §99-ss, St Fin L

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Enacts the COVID-19 essential workers appreciation act which requires businesses who have increased their profits due to the outbreak of COVID-19 to deposit five percent of gross profits into a fund to be used by the COVID-19 essential workers appreciation task force to make awards to essential employees and families of essential employees who have died as a result of contracting COVID-19.

Go to top S06648 Actions:

BILL NOS06648 

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03/19/2025REFERRED TO FINANCE

01/07/2026REFERRED TO FINANCE

Go to topS06648 Committee&nbspVotes:

Go to topS06648 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS06648 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6648

 2025-2026 Regular Sessions

 IN SENATE

 March 19, 2025
 ___________

 Introduced by Sen. SANDERS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Finance

 AN ACT to amend the state finance law, in relation to enacting the
 COVID-19 essential workers appreciation act

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "COVID-19 essential workers appreciation act".
 3 § 2. COVID-19 essential workers appreciation awards. (a) Notwithstand-
 4 ing any provision of law to the contrary, all businesses with profits
 5 over $500,000 dollars that do business in the state that during the
 6 state disaster emergency declared pursuant to executive order 202 have
 7 seen an increase in profits by 20% over the same time period in 2019
 8 shall deposit 5% of such business' gross profits into the COVID-19
 9 essential workers appreciation fund established pursuant to section
 10 99-ss of the state finance law.
 11 (b) There is hereby established the COVID-19 essential workers appre-
 12 ciation task force. Such task force shall be comprised of 7 members to
 13 be appointed as follows:
 14 (i) 2 members appointed by the temporary president of the senate;
 15 (ii) 2 members appointed by the speaker of the assembly;
 16 (iii) 1 member appointed by the governor;
 17 (iv) 1 member appointed by the governor who is the representative of a
 18 small business organization; and
 19 (v) 1 member appointed by the governor who is the representative of a
 20 retail union.
 21 (c) The COVID-19 essential workers appreciation task force established
 22 pursuant to subdivision (b) of this section shall develop eligibility
 23 requirements and make awards utilizing the monies in the COVID-19 essen-
 24 tial workers appreciation fund. Such awards shall be made to:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09860-01-5

 S. 6648 2

 1 (i) eligible employees of essential businesses, including but not
 2 limited to, grocery stores, liquor stores, convenience stores, delis and
 3 grocery delivery personnel; and
 4 (ii) eligible family members of any employee of an essential business
 5 who died as a result of contracting novel coronavirus disease 2019
 6 (COVID-19).
 7 § 3. The state finance law is amended by adding a new section 99-ss to
 8 read as follows:
 9 § 99-ss. COVID-19 essential workers appreciation fund. 1. There is
 10 hereby established in the joint custody of the state comptroller and the
 11 commissioner of taxation and finance a fund to be known as the COVID-19
 12 essential workers appreciation fund.
 13 2. Such fund shall consist of all monies deposited pursuant to subdi-
 14 vision (a) of section two of the chapter of the laws of two thousand
 15 twenty-five that added this section, and all other moneys credited or
 16 transferred thereto from any other fund or source.
 17 3. Monies of the fund, shall be made available as awards pursuant to
 18 the provisions of subdivision (c) of section two of the chapter of the
 19 laws of two thousand twenty-five that added this section.
 20 § 4. This act shall take effect immediately.

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