The greater Long Island area Democratic-led Assembly passed legislation on Tuesday to help workers and small businesses financially survive the Corona Virus pandemic.
Assembly Legislation Helps Small Businesses
In fact, workers could collect unemployment insurance while working part-time. Therefore, small businesses would get protection from being charged higher rates for unemployment insurance. This is when they reopen. Long Island would in turn put a stay on eviction and foreclosure for small businesses under the proposed legislation.
Unemployment Insurance is a Critical Lifetime
Our friends and neighbors have lost their job through no fault of their own during this pandemic. Therefore, unemployment insurance has been a critical lifetime for millions. Speaker Carl Heastie said in a statement.
Small business owners have expressed concern because of the pandemic. They have been letting workers go because of COVID-19 and because of their experience rating. This reflects a small business’ unemployment claims. It is a basis for unemployment charges on employers.
In fact, small businesses often have lower ratings. This is because they have fewer employees and claims. Therefore, the Assembly bill would exclude such businesses from extra unemployment insurance charges. That is if they were forced to close or reduce their staff after March 12, 2020.
Then, another bill would allow workers who find part-time work to maintain eligibility for unemployment insurance. At this time, New York imposes a 25% reduction in benefits for any work performed in a single day.
Extra Money Creates Disincentives for People
Moreover, Assemblymember Al Stirpe said that it creates a disincentive for people to return to part-time work.
Until May 1, 2021, small businesses of fewer than 50 employees would have a moratorium on evictions until May 1, 2021, under a third bill. Moreover, tenants and landlords would fill out a standardized hardship declaration form. This is to receive protections. Also including a tax lien and negative credit reporting protections. Then, a stay on foreclosures for small businesses that are renting ten or fewer properties.
