Maddy summaryThis bill would impose a new tax on New York State residents with $1 billion or more in net assets (total wealth minus debts), calculated as if they sold all assets at market value on December 31, 2024. Taxpayers would pay the resulting tax over 10 years with an annual interest-like fee, or in full for the 2025 tax year. It includes credits for taxes paid to other states on assets accumulated before New York residency, and excludes certain assets like gifts made within five years. The tax applies only to New York residents meeting the $1 billion threshold, with the first payment due for the 2025 tax year. The bill is currently pending in the Budget and Revenue committee.
Sponsored bills
Requires contractors receiving public funds to pay amounts owed to small businesses and minority-owned business enterprises within 10 days of receipt of an undisputed invoice generated by a small business, minority-owned business enterprise or vendor management service and managed service provider on behalf of the small business or minority-owned business enterprise.
Prohibits federal corporate bailout recipients who engage in stock buybacks from receiving New York state tax credits within three years of engaging in such buybacks.
Creates statewide emergency and crisis response council to work in conjunction with the commissioners of mental health and addiction services to jointly approve emergency and crisis services plans submitted by local governments, and provide supports regarding the operation and financing of high-quality emergency and crisis services provided to persons experiencing a mental health, alcohol use, or substance use crisis.
Maddy summaryS 2331 removes buprenorphine from the legal definitions of "controlled substance" and "narcotic preparation" under New York's penal law. This change means possessing buprenorphine (a medication used to treat opioid use disorder) will no longer be treated as a criminal offense under these specific provisions. The bill amends two sections of the penal law to exclude buprenorphine from lists that previously carried criminal penalties for possession. It will take effect on November 1, 2025.
Maddy summaryS 5991, the "LEAVE Act," requires most employers to provide paid sick leave and paid leave based on company size: small businesses (4+ employees with >$1M income) must offer 40 hours paid sick leave and 40 hours paid leave annually; mid-sized (5-99 employees) get 40 hours each; large businesses (100+) get 56 hours sick leave and 40 hours paid leave. Employees accrue leave at 1 hour per 30 hours worked, with protections covering medical needs, family care, and domestic violence situations (including safety planning and legal support). The bill also mandates 20 hours of paid prenatal leave annually starting in 2025, to be taken in hourly increments at the employee’s regular pay rate. It applies to all covered employers in the state and prohibits requiring confidential health disclosures as a condition for leave.
Relates to awards to employees who prevail in actions on kick-back claims; provides that such employees shall be entitled to the full amount of what was received, liquidated damages, attorney's fees and prejudgment interest.
Lowers the blood alcohol concentration required for driving while intoxicated from .08 of one per centum to .05, and for aggravated driving while intoxicated from .18 per centum to .12.
Requires every franchisor, including its affiliates and subsidiaries to properly fulfill any warranty agreement and/or franchisor's service contract and to compensate each of its franchised motor vehicle dealers for warranty parts and labor, including but not limited to all warranty repairs, extended service contract repairs, extended warranty repairs, campaigns, service bulletins, policy repairs, component part warranties, factory compensated repairs, recalls, diagnostics, parts and other voluntary stop-sell repairs, and any other franchisor compensated repairs; relates to reimbursement to a motor vehicle dealer from a motor vehicle franchisor.
Maddy summaryThis bill creates a new enforcement mechanism allowing certain workers, whistleblowers, or labor organizations to file public lawsuits on behalf of New York's labor department to address violations of specific labor laws. It enables private parties to initiate enforcement actions for issues like unpaid wages or misclassification (covered under Articles 5, 6, 9, 19, 19-A, 19-B, and 25-A), with civil penalties collected going to the state treasury. The law aims to supplement limited public enforcement resources by empowering workers and organizations to act as "private attorneys general" while protecting whistleblowers from retaliation. It explicitly excludes government agencies as targets and applies only to violations covered by designated labor law sections.