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New York Related News
New York Related News
13
Dec
On December 4, 2023, New York City Mayor Eric Adams signed legislation to reinstate previously lapsed tax credits for biotech companies (the Credit), with a view towards bolstering the emerging biotechnology sector in New York City. Eligible companies can apply the Credit against certain New York City taxes for tax years beginning on or after January 1, 2023, and before January 1, 2026. Notably, for eligible companies who do not owe sufficient New York City taxes, the excess amount...
04
Dec
On November 17, 2023, the New York governor signed into law S4516, which amends Section 5-336 of the New York General Obligations Law to restrict certain terms from being included in release agreements involving claims of discrimination, harassment, or retaliation. The amendments went into effect immediately and apply to agreements entered into on or after the effective date.
Section 5-336 is one of the original #MeToo statutes. It was intended to limit the use of confidentiality agreements that prevent victims...
25
Sep
Earlier this year, New York State joined a growing number of states and cities that have passed laws mandating salary disclosure when advertising open positions. New York’s salary transparency law requires employers to post salary ranges in job advertisements that promote jobs that will be performed, in whole or in part, in New York State, and in advertisements for jobs that report to supervisors located in New York State.
Although this law went into effect on September 17, 2023, the New...
17
Aug
Since 2015, the Department has posted to its website nonbinding drafts of various regulatory amendments for public comment prior to the formal process for proposing and adopting regulations. The Department solicited public comments, and the draft regulations were amended in response to those comments over the years. Last summer the Department posted final draft regulations to its website. The current proposed regulations contain various changes from the 2022 draft regulations and have been formally proposed by the Department pursuant...
17
Aug
Under a recently introduced bill, employers across New York State could face new restrictions on the electronic surveillance of workers and the growing use of automated decision-making and artificial intelligence (AI) technology to make employment decisions.
Quick Hits
Proposed New York State bill would restrict employers’ use of electronic monitoring and automated employment decision-making technology.
The bill would require employers to notify employees and job candidates that such tools are being used and specifically require automated employment decision tools to...
03
Jul
Summary
On June 20, the New York State Legislature passed a bill prohibiting noncompetes. The bill currently awaits Governor Hochul’s signature. If signed into law, it will take effect just 30 days later, but will only be applicable to contracts entered into or modified on or after the effective date — it will not have retroactive effect.
The proposed law would prohibit employers from entering into noncompete agreements with “covered individuals,” which, as explained in more detail below, clearly includes employees...
21
Jun
On June 20, 2023, the New York State Assembly approved one of two bills concerning non-compete agreements that the New York State Senate just recently passed. Bill No. S3100A, which would prohibit employers from using non-compete agreements, passed the Assembly and is on its way to the desk of Governor Hochul for signature.
Quick Hits
The New York State Assembly approved legislation (Bill No. S3100A) that would prohibit employers from using non-compete agreements.
Bill No. S3100A does not address employee...
24
Mar
Performance-Based Excelsior Jobs Program to Support Creation of Up to 80 New Jobs | Expansion Builds on Prior Investments in Taystee Lab Building, Harlem Biospace to Grow New York's Life Sciences Sector |
Governor Kathy Hochul today announced Schrödinger, Inc. - whose physics-based computational platform is transforming the way therapeutics and materials are discovered - is investing $7.6 million to expand operations at its headquarters in New York City. Schrödinger will lease additional space at 1540 Broadway as it grows...