New York S 9485: Relates to the establishment of the small business child & dependent care savings program

Bill Text

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S09485 Summary:

BILL NOS09485 

&nbsp

SAME ASSAME AS A09585

&nbsp

SPONSORASHBY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

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Add Art 17 §§255 - 263, §99-uu, St Fin L; amd §612, Tax L

&nbsp

Establishes the small business child and dependent care savings program; provides the basic framework therefor.

Go to top S09485 Actions:

BILL NOS09485 

&nbsp

03/17/2026REFERRED TO FINANCE

Go to topS09485 Committee&nbspVotes:

Go to topS09485 Floor&nbspVotes:

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

Go to topS09485 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9485

 IN SENATE

 March 17, 2026
 ___________

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

 AN ACT to amend the state finance law and the tax law, in relation to
 the establishment of the small business child and dependent care
 savings program

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

 1 Section 1. The state finance law is amended by adding a new article 17
 2 to read as follows:
 3 ARTICLE 17
 4 NEW YORK STATE SMALL BUSINESS CHILD AND DEPENDENT CARE SAVINGS PROGRAM
 5 Section 255. Short title.
 6 256. Definitions.
 7 257. Program established.
 8 258. Program administration.
 9 259. Program implementation and enrollment.
 10 260. Payments.
 11 261. Duty and liability of the state.
 12 262. Duty and liability of participating employers.
 13 263. Delayed implementation.
 14 § 255. Short title. This act shall be known and may be cited as the
 15 "New York small business child and dependent care savings program act".
 16 § 256. Definitions. The following terms shall have the following mean-
 17 ings:
 18 1. "Commissioner" shall mean the commissioner of labor.
 19 2. "Comptroller" shall mean the comptroller of the state.
 20 3. "Employee" shall mean any individual who is eighteen years of age
 21 or older, who is employed by an employer, and who earned wages working
 22 for an employer in New York state during a calendar year.
 23 4. "Employer" shall mean a person or entity engaged in a business,
 24 industry, profession, trade, or other enterprise in New York state,
 25 whether for profit or not for profit, that (a) has at all times during
 26 the previous calendar year employed at least one but not more than one

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14357-01-6

 S. 9485 2

 1 hundred employees in the state, (b) has been in business at least two
 2 years, and (c) has not offered a child and dependent care savings plan.
 3 5. "Enrollee" shall mean any employee who is enrolled in the program.
 4 6. "Fund" shall mean the New York small business child and dependent
 5 care savings program fund.
 6 7. "Participating employer" shall mean a small business that provides
 7 a payroll child and dependent care savings arrangement as provided for
 8 by this article for its employees who are enrollees in the program.
 9 8. "Payroll deposit child and dependent care savings arrangement"
 10 shall mean an arrangement by which a participating employer allows
 11 enrollees to remit payroll deduction contributions to the program.
 12 9. "Program" shall mean the New York state small business child and
 13 dependent care savings program.
 14 10. "Small business" shall mean a person or entity engaged in a busi-
 15 ness, industry, profession, trade, or other enterprise in New York
 16 state, whether for profit or not for profit, that employed at least one
 17 but no more than one hundred employees at any one time in the state
 18 throughout the previous calendar year, and that notifies the comptroller
 19 that it is interested in being a participating employer.
 20 11. "Wages" means any compensation received by an enrollee from a
 21 participating employer during the calendar year.
 22 12. "Internal revenue code" shall mean the internal revenue code of
 23 nineteen hundred eighty-six, or any successor law, in effect for the
 24 calendar year.
 25 13. "Administrators" shall mean the commissioner of labor together
 26 with the comptroller.
 27 § 257. Program established. A state child and dependent care savings
 28 program in the form of