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Court of Appeals Decision Opens New Opportunities for the NYS Brownfield Cl: Jul-27-2010 — Eligibility into the tax credit-rich Brownfield Cleanup Program (BCP) has been eased by the New York State Department of Environmental Conservation (NYSDEC) due to a recent New York Court of Appeals decision in LighthousePointe Property Assoc. v. NYSDEC, 14 NY3d 161 (2010). If a site exceeds cleanup standards, it appears that the site is now eligible for inclusion into the program. This ease of eligibility returns the BCP to its earlier days, when NYSDEC was eager to get sites into the Pro More...
The Dodd-Frank Wall Street Reform and Consumer Protection Act: Jul-26-2010 — President Obama has signed financial reform legislation into law. As reported in our previous Alerts, the Dodd-Frank Act includes provisions that impact corporate governance as well as executive compensation. More...
Impact of the Dodd-Frank Act on the Insurance Industry: Jul-22-2010 — After much debate and discussion, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act") has been signed into law by President Obama. Although the Act is often discussed as a means to overhaul the regulation of financial institutions, it contains a number of provisions which will directly impact the insurance industry. Such provisions are briefly discussed below. More...
For Retiree Health Plan Sponsors, Immediate Action Is Needed: Jun-30-2010 — As described in our prior Alerts, the new health care reform law provides a federal subsidy for health plans that cover early retirees, to help offset the cost of such coverage. Both private and public sector plans are eligible. Limited funds were allocated to this program and the funds are to be disbursed on a “first come first served” basis until exhausted. Applying early is critical for plans seeking subsidy funds. More...
Status of Financial Reform Legislation: Jun-29-2010 — Financial reform legislation moved closer to being adopted as law as it passed through the reconciliation process of the joint House and Senate committee late last week. Now known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, the current bill, like the earlier House and Senate versions, includes provisions revising certain corporate governance areas and executive compensation. However, a provision included in earlier versions that would have required public companies to uti More...
New Rules on Grandfathered Plans May Limit Health Plan Changes: Jun-22-2010 — One of most controversial provisions of the new health care reform law is the so-called “grandfathered health plan” rule, which exempts health plans in existence on March 23, 2010 (the date of enactment) from many of the new law’s requirements. The law itself doesn’t state what actions by plan sponsors, if any, might cause a grandfathered plan to lose its protected status. More...
Public Employee Retirement Incentive: Jun-18-2010 — On June 2, 2010, Governor Paterson signed into law Governor's Program Bill No. 249R (“249R”), which establishes a temporary retirement incentive program for certain State employees and other public employees in an effort to streamline the workforce while achieving cost savings for the employer. More...
HHS Releases Draft Application for the Retiree Reinsurance Program: Jun-09-2010 — The health care reform law provides a federal subsidy for some health plans that cover early retirees, to help offset the cost of such coverage. The subsidy program became effective as of June 1, 2010. Only limited funds were allocated to the program and are to be disbursed on a “first come first served” basis until exhausted; accordingly, it behooves a health plan sponsor who might qualify for the subsidy to apply as soon as possible. The final application is reportedly to be released later thi More...
IRS Guidance on the Small Business Health Care Tax Credit: Jun-03-2010 — The new health care reform law provides a valuable tax credit to some small employers that provide health insurance coverage to their employees. The credit is available beginning this year to employers that pay at least half the cost of their employees' h More...
Federal Contractor Obligations to Notify Employees of Their Rights Under th: May-24-2010 — The United States Department of Labor has published its final rule directing employers who are party to a contract with the Federal government, or a subcontractor of more than $10,000 on such contracts, to post in conspicuous places in the workplace a Notice containing specific language informing employees of their rights under the National Labor Relations Act, including their right to organize or join a union. The Notice also provides examples of unlawful employer and union conduct that interf More...
Extended Coverage For Young Adult Dependents: May-19-2010 — The Affordable Care Act, the new health care reform law, requires group health plans and health insurance issuers that provide dependent coverage of children to continue to make such coverage available until the child turns 26 years of age. On May 13, 2010 the three federal agencies primarily responsible for administering the Affordable Care Act (the Departments of Health and Human Services, Labor and the Treasury) issued interim fina More...
Health Care Reform Alert - Immediate Action Needed Under Retiree Reinsuranc: May-12-2010 — The Patient Protection and Affordable Care Act, the recently enacted health care reform law, establishes a federal subsidy for health plans that cover certain early retirees. Under the Retiree Reinsurance Program, a qualifying plan can receive a subsidy equal to 80% of its annual costs that are more than $15,000 but not more than $90,000 for a retiree. Only limited funds were allocated to the program and they will be disbursed on a “first come first served” basis until exhausted, at which point More...
Immediate and Long-Term Challenges For Employers Under Health Care Reform: May-05-2010 — After a year of heated debate in Congress, Federal health care reform is finally a reality. The new legislation will substantially change the way health care is provided and paid for, and creates both immediate and long term challenges for employers who sponsor group health plans. More...
COBRA Premium Subsidy Extended Again: Apr-19-2010 — On April 15, 2010, President Obama signed into law another extension of the COBRA premium assistance program. Under the latest extension, the COBRA premium subsidy will be available to eligible individuals who are involuntarily terminated from employment through May 31, 2010. The subsidy had previously expired and, until extended, did not apply to involuntary terminations after March 31, 2010. Because the latest extension is retroactive, those employees involuntarily terminated on and after Apri More...
HIRE Act Provides Tax Breaks for Hiring and Retaining Unemployed Workers: Apr-06-2010 — In a renewed attempt to encourage new employment and stimulate the economy, Congress recently passed the Hiring Incentives to Restore Employment Act (“the HIRE Act”), which President Obama signed into law on March 18, 2010. Under the HIRE Act, a partial payroll tax “holiday” is available to qualified employers that hire unemployed workers, and a business tax credit is available if the employer retains such employees for at least a year. Companies that intend to hire new employees during the rema More...
RiskMetrics Group Adopts New Measure of Governance Related Risk: Mar-15-2010 — RiskMetrics Group has announced that as of March 17, 2010, it will replace its former Corporate Governance Quotient or "CGQ" rating with a new system of governance ratings called Governance Risk Indicators or "GRIds". More...
Congress Extends (for the Second Time) and Expands the COBRA Premium Subsi: Mar-04-2010 — On March 2, 2010 Congress again extended the COBRA premium assistance law, which had expired on February 28, 2010. The 65% federal subsidy will now be available to employees involuntarily terminated on or before March 31, 2010. In addition, the new law makes the premium subsidy available to employees who first qualify for COBRA as a result of a reduction of hours and later are involuntarily terminated. Employers or plan administrators must notify these newly eligible employees within 60 days More...
New York State Alters Guidance to Employers Regarding New Hire Wage Notices: Feb-22-2010 — Since the amendment to Labor Law § 195(1) took effect, the New York State Department of Labor (“NYSDOL”) has issued a series of directives to employers. The NYSDOL has not been consistent in its approach, likely creating understandable confusion among employers in trying to comply with the law. This Alert summarizes the current status of the NYSDOL’s guidelines regarding the new hire wage notices. Of particular significance is new administrative guidance requiring that employers advise any em More...
SEC Climate Change Disclosure Guidance: Feb-19-2010 — In late January, the SEC issued an interpretive release providing guidance to companies regarding required disclosure relating to the impact of climate change on their business. The new guidance will impact the disclosure required in upcoming annual reports on Form 10-K. More...
NYSE Governance Rule Changes: Feb-16-2010 — In January, the SEC approved changes to the NYSE corporate governance listing standards that clarify certain disclosure requirements, codify existing exchange interpretations and, in an effort to coordinate with SEC rules, replace certain disclosure requirements with those contained in Item 407 of Regulation S-K. Item 407 requires disclosure regarding director independence and certain corporate governance matters. This year's proxy materials must comply with the new standards. More...
Desperate for Dollars - New York State Announces Taxpayer Amnesty Program: Feb-10-2010 — New York's annual multi-billion dollar tax gap - the difference between taxes owed and taxes collected - has led the State to increase enforcement and encourage payment and compliance through its tax incentive programs. The Penalty and Interest Discount Program ("PAID") and the Voluntary Disclosure and Compliance Program are currently available for delinquent taxpayers, but time is of the essence with PAID. More...
SEC Issues Guidance Regarding Enhanced Proxy Disclosure: Feb-04-2010 — On January 20, 2010, the SEC issued Compliance and Disclosure Interpretations to assist with issues presented by the recently adopted rules governing enhanced proxy disclosure. More...
Jaeckle Secures $5 Million for ICC in Settlements & Judgment of Superfund C: Feb-03-2010 — Jaeckle Fleischmann's Environmental practice group recently secured a court order for payments totaling over $2.5 million in the successful representation of Solvent Chemical Company and its parent company ICC Industries, Inc. in a Superfund case. More...
Reporting of Voting Results: Feb-02-2010 — The SEC's recently adopted rules regarding enhanced proxy disclosures also include new requirements for the reporting of voting results and highlight the need for the continued focus on shareholder relations. More...
Board Oversight Role in Risk Management: Jan-28-2010 — The rules recently adopted by the SEC require added disclosure in the 2010 proxy materials regarding the board's role in the oversight of risk management and the effect on the leadership structure of the company. More...
The Spotlight on Revised Executive Compensation Disclosures: Jan-26-2010 — Compensation decisions remain under scrutiny by investors. As investors demand that executive pay be linked to performance, issuers and the SEC are still struggling with the “new” executive compensation disclosure rules first effective four years ago. Now the SEC has amended the executive compensation disclosure rules impacting the disclosure required in the proxy materials for the 2010 annual meeting. The new disclosure requirements are generally directed at two main areas: risk analysis a More...
The New Proxy Rules Impact on Director Qualifications and Diversity of the: Jan-19-2010 — The enhanced proxy rules recently adopted by the SEC require added disclosure in the proxy materials for the 2010 annual meeting regarding the background and qualifications of directors and nominees and the diversity of the board. More...
HIPAA Liability & Reporting Requirements Broaden: Jan-15-2010 — The American Recovery and Reinvestment Act of 2009 (H.R.1), commonly known as the "economic stimulus" bill, included several changes designed to strengthen the security and privacy provisions under the HIPAA. These changes likely will have a direct and significant impact on tort litigation as well. More...
Attachments - Department of Labor Draft COBRA Subsidy: Jan-13-2010
Department of Labor Issues Draft COBRA Subsidy Extension Notices: Jan-13-2010 — On December 17, 2009, Congress passed legislation that extends eligibility for the 65 percent COBRA premium subsidy to employees who are involuntarily terminated during the first two months of 2010 (previously, only employees terminated by December 31, 2009 were eligible), and increases the maximum subsidy period to 15 months. The longer subsidy period (it was previously 9 months) applies retroactively, and health plan administrators must provide a supplemental notice to affected individuals no More...
Governor Paterson Outlines Economic Development and Affordable Housing Plan: Jan-12-2010 — On January 6th Governor Paterson held his second State of the State address and outlined his plan to rebuild New York. Included in his address was an economic development plan that provides a replacement to the Empire Zone Program and a commitment to affordable housing development in Upstate New York. More...
COBRA Premium Subsidy Extension Signed into Law: Dec-23-2009 — On December 19, 2009, Congress passed legislation that extends the eligibility period for the 65 percent COBRA premium subsidy from December 31, 2009 to February 28, 2010, and increases the maximum subsidy period from 9 to 15 months. The longer maximum subsidy period applies retroactively, and health plan administrators must provide a supplemental notice to affected individuals no later than February 19, 2010. More...
New Law Alters Consolidation & Dissolution Procedures for NYS Towns & Villa: Dec-10-2009 — In June 2009, the Governor signed into law the NY Government Reorganization and Citizen Empowerment Act of 2009, which will take effect on March 21, 2010. The new law dramatically alters the procedures by which most (but not all) local government entities (including towns, villages and various special districts) may be consolidated and/or dissolved. More...
U.S. Treasury Awards $5 Billion To Subsidize Projects Under The New Markets: Nov-23-2009 — On October 30, 2009, Treasury Secretary Timothy Geithner announced that the federal government has made $5 billion in financing available to subsidize business and real estate projects under the New Markets Tax Credit Program. The New Markets Tax Credit (NMTC) program was enacted in 2000 as part of the Community Renewal Tax Relief Act of that year. Intended to address the lack of investment capital available for business and economic development in low income communities, the NMTC program w More...
Public Company Employment Agreements May Need to be Amended Before 2010: Nov-23-2009 — In January 2008 the IRS issued a private letter ruling which stated that a bonus payable under an executive employment agreement did not qualify as performance-based compensation under Section 162(m) because the agreement provided that in the event of the executive’s termination of employment without cause, any performance goal would be treated as having been achieved and the awards would vest to the extent such awards would have become vested had the executive's employment continued for two yea More...
Annual Medicare Part D Notices Must Be Distributed by November 15, 2009: Nov-09-2009 — Under Medicare Part D, a “Notice of Creditable Coverage” must be provided to all Medicare-eligible participants in employer-sponsored group health plans prior to November 15th of each year. More...
Recent Court of Appeals Ruling Could Spawn more SEQRA Lawsuits: Nov-04-2009 — On October 27, 2009, the Court of Appeals held in Save the Pine Bush, Inc. v. Common Council of the City of Albany that standing to challenge the environmental impact of a proposed development need not be confined to residents or neighbors of the proposed project location, but can be extended to anyone who can "prove that he or she uses and enjoys a natural resource more than most other members of the public." More...
Mandatory Wage Acknowledgement Forms Issued by New York State: Nov-03-2009 — As discussed in a prior Alert, Governor Paterson signed a law on July 28, 2009, amending § 195(1) of the New York State Labor Law. Effective October 26, 2009, § 195(1) now requires employers (other than governmental agencies) to have newly hired employees sign acknowledgements that they have received written notice of their wage rates, including overtime rates for non-exempt employees. This Alert provides critical new information regarding employers’ compliance with § 195(1). Many New York More...
New Environmental Due Diligence Standards: Oct-07-2009 — ASTM International, a global standards development organization, recently issued standards regarding site assessments of forestland and rural property and chemical subsurface building contamination. These standards will have significant impact on transactions involving changes in property ownership or operations. More...
New York State Legislation Triggers Additional Employer Obligations: Aug-31-2009 — New York State Governor David A. Paterson recently signed several pieces of legislation that will require employers in the state to review and revise existing procedures and policies. Our Labor & Employment and Employee Benefits attorneys have drafted alerts regarding this important legislation. More...
NYS Enacts Important Health Law Changes: Aug-28-2009 — New York State recently amended its health insurance laws in order to permit terminated employees and young adult children of covered employees to continue group coverage in certain situations where coverage would otherwise end. These changes will affect nearly all insured employer group health plans in New York. More...
New York State Changes Minimum Wage and Overtime Laws: Aug-28-2009 — Recent amendments to New York State's Minimum Wage Orders and Labor Law will require most employers in the state to review and modify their employee compensation practices. The revised requirements affect both current employees and new hires. More...
Recent Amendments to the New York State Human Rights Law: Aug-28-2009 — New York State Governor David A. Paterson recently signed amendments to the New York State Human Rights Law ("NYSHRL"). The amendments have expanded both the scope of protection afforded employees and the potential costs of violations by employers. More...
New NYS Power of Attorney Law Effective September 1, 2009: Aug-27-2009 — On January 27, 2009, Governor Paterson signed into law a revision to Title 15 of Article 5 of New York's General Obligations Law. The new law is effective September 1, 2009 and omits all but nominal gifting power from the basic statutory power of attorney form, requiring that any such donative powers be set forth on a new statutory major gifts rider to the power of attorney form. More...
Medicaid Compliance Program Mandate Approaches Deadline: Aug-21-2009 — The New York State Office of the Medicaid Inspector General (OMIG), an independent entity within the Department of Health, recently issued final regulations under a 2006 law that requires Medicaid providers to establish "compliance programs" to reduce fraud and abuse. More...
Minimum Wage Increase to Take Effect on July 24, 2009: Jul-08-2009 — REMINDER: Pursuant to the 2007 amendments to the Fair Labor Standards Act, the Federal minimum wage will be increased from $6.55 to $7.25 per hour effective July 24, 2009. Under New York law, the New York State minimum wage will automatically increase to match any increase in the Federal minimum wage when the Federal minimum wage increases to an amount higher than the minimum wage in New York State. At this time, no additional increase to the New York minimum wage (currently $7.15 for most em More...
DHCR Releases Statewide Affordable Housing Needs Study 2009: May-26-2009 — On May 6, 2009, the New York State Division of Housing and Community Renewal released its Statewide Affordable Housing Needs Study 2009 (the "Study"). More...
Economic & Land Development Alert: Climate Change Enters the Regulatory Lan: Apr-09-2009
New COBRA Obligations Effective March 1, 2009: Feb-25-2009 — President Obama has now signed into law the American Recovery and Reinvestment Act, the economic stimulus bill passed by Congress earlier this month. The Act contains several provisions that will significantly impact COBRA coverage under employer group health plans. The COBRA changes go into effect March 1, 2009. Employers will have to move very quickly to address these important new requirements. More...
April 1, 2009 Filing Date is Crucial: Feb-19-2009 — April 1, 2009 is an important date for employers seeking first-time H-1B visas for employees. In the absence of congressional action to address the problem, it is likely that the entire quota of H-1B visas allocated for the 2009-10 fiscal year will be used up by applicants filing on the first few days of April. A late filing will likely disqualify an applicant from consideration for the entire fiscal year. More...
Employee Benefits Alert: Stimulus Bills Contain Major COBRA Changes: Feb-13-2009 — The House of Representatives and Senate have each passed an economic stimulus bill, and both bills include provisions that would significantly expand the COBRA obligations of group health plan sponsors. More...
The Employee Free Choice Act: Feb-09-2009
Final FMLA Regulations Effective 1/16/09 Require Employer Action: Jan-22-2009 — On November 17, 2008 the U.S. Department of Labor issued its final regulations that change employer and employee responsibilities under the Family and Medical Leave Act (FMLA), including the recent military leave amendments. The regulations include significant changes and clarify the existing FMLA regulations. More...
Immigration Alert: E-Verification Requirements: Jan-09-2009 — Effective January 15, 2009, federal departments and agencies that enter into certain contracts must require that the contractor agree to use the E-Verify Program to verify the employment of: (i) all persons hired during the contract term by the contractor to perform employment duties within the United States; and (ii) all persons assigned by the contractor to perform work within the United States on the Federal contract. More...
2008 Alerts: Dec-24-2008 — Archive of 2008 alerts. More...
2007 Alerts: Dec-30-2007 — Archive of 2007 Alerts More...
2006 Alerts: Dec-30-2006 — Archive of 2006 Alerts More...
2005 Alerts: Dec-30-2005 — Archive of 2005 Alerts More...

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