Establishes the New York state small business child and dependent care savings program.

The bill establishes the New York state small business child and dependent care savings program, a payroll deduction program for employees of small businesses. It sets up a fund for child and dependent care savings accounts, overseen by the commissioner of labor and the comptroller. Participating employers must establish payroll deposit arrangements for employees to contribute to the program. The program aims to maximize participation and savings, ensuring simplicity and ease of administration. Employers have no liability for employee participation decisions or program administration.

Establishes the New York state small business child and dependent care savings program.

The bill establishes the New York state small business child and dependent care savings program, a payroll deduction program for employees of small businesses. It sets up a fund for child and dependent care savings accounts, overseen by the commissioner of labor and the comptroller. Participating employers must establish payroll deposit arrangements for employees to contribute to the program. The program aims to maximize participation and savings, ensuring simplicity and ease of administration. Employers have no liability for employee participation decisions or program administration.