New York Laws
Title 6 - Contributions to Fund
581-D - Contributions to the Interest Assessment Surcharge Fund.

§ 581-d. Contributions to the interest assessment surcharge fund. 1.
Each employer that is liable for contributions under this article shall
pay an assessment to the commissioner at a rate established annually by
the commissioner sufficient to pay interest due on advances from the
federal unemployment account under Title XII of the Social Security Act
(42 U.S. Code Sections 1321 to 1324) during any period that such
interest will accrue. The rate shall be applied to wages as defined in
section five hundred eighteen of this article effective as of the
beginning of the first calendar quarter of the year such interest
becomes due. The commissioner shall establish the necessary procedures
for payment of such assessments. The amounts received by the
commissioner based on such assessments shall be paid over and credited
to the interest assessment surcharge fund. At such time that the
commissioner determines that this assessment is no longer necessary, any
amount remaining from such assessments, after all such federal interest
charges have been paid, shall be deposited into the unemployment
insurance trust fund and credited to employer accounts. Such credits
shall be determined based on the percentage of each employer's wages to
the total statewide wages of the payroll year and credited to each
employer's account as of the computation date of the year prior to which
such assessment shall no longer be levied. The provisions of law
applicable to the collection of contributions shall apply to the
collection of such assessments.

2. The commissioner shall notify the chairpersons of the senate
finance committee and the assembly ways and means committee of the
amount being assessed on employers and the procedures for payment of
such assessments no later than thirty days prior to the application of
the interest assessment surcharge. On a quarterly basis the commissioner
shall provide the chairpersons of the senate finance committee and the
assembly ways and means committee the assessment rate that shall be
applied to wages as well as the amount of any previous advances and the
estimated amount of future monthly advances from the federal
unemployment account under Title XII of the Social Security Act (42 U.S.
Code Sections 1321 to 1324) for the calendar year, the amount of
interest due and the amount of interest paid for the calendar year.