New York 2025-2026 Regular Session

New York Assembly Bill A10912

Introduced
4/8/26  

Caption

Requires interest rates for debts be set to no more than one percentage point greater than the consumer price index for urban wage earners and clerical workers per annum; removes collection fees outside of certain debts owed.

Impact

The implementation of A10912 would alter how interest on state-collected debts is calculated and could potentially impact state revenues derived from these debts. By limiting the interest rate, the bill seeks to protect debtors from escalating financial obligations that can occur when debts remain unpaid. Moreover, the removal of additional collection fees except for certain specified types of debts would further safeguard consumers against unexpected financial penalties that often accompany debt collection processes.

Summary

A10912, also known as the 'fee relief act', proposes significant amendments to the state finance law by capping the interest rates on debts owed to state agencies. Specifically, the bill mandates that interest on such debts can only be set to one percentage point greater than the consumer price index for urban wage earners and clerical workers per annum. This measure aims to provide financial relief to debtors who are struggling to pay off debts to state entities by alleviating the additional financial burden of higher interest rates.

Contention

Notable points of contention regarding A10912 revolve around the balance between easing the financial load on debtors and maintaining adequate state revenue from debt collections. Proponents argue that the bill is a necessary step in reforming debt collection practices by removing punitive fees and interest rates that can spiral out of control. Conversely, critics may express concerns that limiting the interest rates could hamper state agencies' ability to recover owed funds effectively and challenge the financial stability of state finances.

Summary_ending

Ultimately, A10912 appears designed to provide necessary relief to those in debt while attempting to strike a balance with financial implications for the state. The ongoing discussions about this bill highlight the challenges of debt management and state financial health in the context of public policy.

Companion Bills

No companion bills found.

Previously Filed As

NY S09329

Raises legislator compensation to $180,000 beginning January 1, 2028, each year thereafter such salary shall be increased equal to the percentage increase, if any, in the consumer price index for all urban consumers (CPI-U).

NY A09309

Freezes minimum wage automatic escalators and annual inflation adjustments beginning in 2027; repeals the provision of law providing that the minimum wage shall be determined by increasing the then current year's minimum wage rate by the rate of change in the average of the three most recent consecutive twelve-month periods between the first of August and the thirty-first of July, each over their preceding twelve-month periods published by the United States department of labor non-seasonally adjusted consumer price index for the northeast region urban wage earners and clerical workers (CPI-W) or any successor index as calculated by the United States department of labor.

NY S03414

Provides cost-of-living adjustments for certain public retirees, including an adjusted benefit in monthly installments that is equal to the percentage of the change in consumer price index according to the included schedule.

NY A05307

Provides cost-of-living adjustments for certain public retirees, including an adjusted benefit in monthly installments that is equal to the percentage of the change in consumer price index according to the included schedule.

NY CACR18

Relating to tax rates. Providing that the rate of taxes in the state shall not exceed certain annual percentages.

NY H5832

Amends powers/duties of the office of the health insurance commissioner to increase total cost of care for services reimbursed under contracts after risk adjustment that exceeds the Consumer Price Index for all Urban Consumers percentage increase.

NY S0681

Amends powers/duties of the office of the health insurance commissioner to increase total cost of care for services reimbursed under contracts after risk adjustment that exceeds the Consumer Price Index for all Urban Consumers percentage increase.

NY A04612

Increases the rate paid by the state to a city for maintenance and repair of highways by the percentage change in the consumer price index for all urban consumers (CPI-U), New York-Northern New Jersey-Long Island, NY-NJ-CT-PA, as published by the United States department of labor bureau of labor statistics, over the prior five years.

NY S06732

Increases the rate paid by the state to a city for maintenance and repair of highways by the percentage change in the consumer price index for all urban consumers (CPI-U), New York-Northern New Jersey-Long Island, NY-NJ-CT-PA, as published by the United States department of labor bureau of labor statistics, over the prior five years.

NY A02592

Relates to commissaries and canteens at correctional institutions; provides that items for sale at a commissary or canteen shall be sold for no more than a certain percentage over the purchase price; provides that the department of corrections and community supervisions shall publish on its website the price list for all commissary items for sale at each institution as of June 1, 2026 and on an annual basis thereafter.

Similar Bills

No similar bills found.