Establishes the crime of misappropriation of payroll funds in New York.

New York A03382 amends the penal law by adding a new section 165.80, which defines the crime of misappropriation of payroll funds. This crime occurs when a person knowingly prevents funds designated for employee payroll or payroll taxes from being used for their intended purpose. The bill specifies that a delayed transfer of funds, as part of an agreement between a payroll processing company and an employer to investigate potentially fraudulent or incorrect transactions, does not constitute misappropriation. This act takes effect immediately.

Establishes the crime of misappropriation of payroll funds in New York.

New York A03382 amends the penal law by adding a new section 165.80, which defines the crime of misappropriation of payroll funds. This crime occurs when a person knowingly prevents funds designated for employee payroll or payroll taxes from being used for their intended purpose. The bill specifies that a delayed transfer of funds, as part of an agreement between a payroll processing company and an employer to investigate potentially fraudulent or incorrect transactions, does not constitute misappropriation. This act takes effect immediately.