In one paragraph
The bill mandates biennial registration for companies with specific NAIC codes related to AI in New York.
Plain-English summary, written with AI assistance. The official text controls.
What it means for business
If you operate an AI business in NY, register biennially or face fines and operational bans.
What this means
New York's proposed legislation requires biennial registration for companies primarily engaged in AI, identified by specific NAIC codes. Non-compliance may lead to fines and operational bans.
Key provisions
- Section 20: Biennial registration requirement for AI-related companies with specific NAIC codes.
- Section 20: $200 fee for each biannual registration.
- Section 20-a: Penalties include fines up to $10,000 and potential injunctions.
Compliance checklist
- Register your company if it is primarily engaged in AI.
Latest legislative action
May 7, 2024. PRINT NUMBER 8214A
Full analysis
Sponsors
| Name | Role | District |
|---|---|---|
| Kevin Thomas D | Sponsor | SD-006 |
Topics and industries
Affected industries
This page is general information, not legal advice. Summaries are AI-assisted and may contain errors; read the statute for the controlling text and talk to a lawyer about your situation. Full disclaimer · Report an error