New York Laws
Title 6 - Contributions to Fund
570 - Payment of Contributions.

(b) If, on or before the tenth day of November, nineteen hundred
seventy-nine, the commissioner determines that the outstanding balance
of advances made to the state pursuant to title XII of the federal
social security act can be repaid in full to the treasury of the United
States for credit to the federal unemployment account in the federal
unemployment trust fund, and that after such repayment the state will
not require further title XII advances during the remainder of nineteen
hundred seventy-nine, he shall cause such repayment to be made.
(c) On or before the first day of July, nineteen hundred seventy-nine,
pursuant to 20 CFR 601.5(f) the governor shall file with the secretary
of labor an application for deferral of the tax credit reduction
required by section 3302(c) (2) of the federal unemployment tax act. If
such deferral can be obtained by making the repayment to the treasury of
the United States required by 20 CFR 601.5(f)(2)(ii), the commissioner
shall cause such repayment to be made. If such deferral cannot be so
obtained, it shall be applied for pursuant to 20 CFR 601.5(f)(2)(i) and,
in such event, the amount of such additional contributions due by the
thirty-first day of January, nineteen hundred eighty, by reason of
paragraph (a) of this subdivision, shall be paid as soon as received to
the treasury of the United States to reduce the balance of outstanding
title XII advances.