2006 New York Code - 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.
    * NB Repealed December 31, 2006