While the New York State Legislature passed a number of bills that impact our industry, many have yet to reach the governor’s desk. However, S.8435 (Comrie)/A.8449 (Paulin), which amends the business corporation law and the limited liability company law in relation to requiring certain companies and corporations to report certain data regarding the gender, race, and ethnicity of their employees, was recently sent to Governor Hochul. Upon review, the Governor issued a veto.
ECA sent a letter of opposition to the Governor regarding this legislation, as we believed it duplicated efforts of Executive Order 162 (put into place by Governor Cuomo in 2018), which already established that businesses supply similar information to the NYS Secretary of state.
The Legislature and the Governor have until the end of the month to finalize any bills that were passed during Session earlier this year. If no action is taken, those bills will need to return to the Assembly and Senate for new consideration next year. We will keep you posted on any other industry legislation that moves before the end of the year.
Please contact Todd Helfrich (518-869-0961) if you have any questions regarding legislative issues.