According to Governor Andrew Cuomo, measures included in the state budget will result in reduced costs of approximately 26 percent for New Yorkers.
The Governor said on Wednesday that businesses and governments will save $300 million in annual expenses and save self-insured employers $500 million in one-time workers’ compensation assessments.
According to yesterday’s statement from the Governor’s office, The Business Relief Act, part of the 2013-14 budget, cuts assessments to employers to 13.8 percent from 18.8 percent, the largest reduction since 1998.