In the News-New York State
Governor Hochul Signs Legislation Strengthening
New York’s Gun Laws
Alongside former U.S. Representative Gabby Giffords and New York government officials, Governor Kathy Hochul signed a package of six bills that will strengthen New York’s gun laws, focusing on retail sales, extreme order of protection (EOP) notifications and petitions, and licensing.
“Gun violence is an epidemic that is tearing our country apart. Thoughts and prayers won’t fix this, but taking strong action will,” Governor Hochul said. “Obstacles don’t define us. Rather, it is the unparalleled courage and character of us that defines us as a people. So my confidence in the future is steeped in our glorious past – in the face of adversity, we always persist. We persevere, we prevail.” Governor Kathy Hochul said.
Initiatives included in the 6-bill package are:
Chapter 425 – Sponsored By AM Wallace/Senator Scarcella-Spanton – Allows police agencies instead of individual police officers to be listed as the petitioner in an extreme risk protection order proceeding.
Chapter 427 – Sponsored by AM Lavine/Senator Mayer – Requires the court to notify the statewide registry of orders of protection and warrants when a temporary and/or final ERPO is issued, ensuring that ERPOs are tracked in the statewide registry of orders of protection and warrants.
Chapter 428 – Sponsored by AM Dinowitz/Senator Gianaris – Requires firearm dealers post and provide warnings that state that firearms increase the risk of suicide, death during domestic disputes, and/or unintentional death to children.
Chapter 429 – Sponsored by AM Simon/Senator Hoylman-Sigal – Requires the gun industry to take “reasonable steps” to prevent the installation and use of pistol converters on their products. A pistol converter is defined as a device that can be attached to the slide of a semi-automatic pistol and interfere with the trigger mechanism, allowing the user to discharge a number of shots rapidly or automatically with one continuous pull of the trigger.
Chapter 430 – Sponsored by AM Solages/Senator Myrie – Requires credit and debit card issuers to use the firearms and ammunition retailers merchant category code (MCC) created by the International Organization for Standardization in 2022 for businesses whose highest sales value is from the combined sale of firearms, firearms accessories, or ammunition, and it authorizes the State Attorney General to bring an enforcement action for any violation that is not cured within 30 days, which can result in fines up to $10,000 for noncompliance.
Chapter 432 – Sponsored by AM Benedetto/Senator Mayer – Requires a firearms licensing officer, upon the issuance of a license, to provide information about statewide resources related to safe storage of firearms, child access prevention and firearm violence prevention, as well as information on specific county and local laws and regulations related to child access prevention and safe storage of firearms.
Attorney Attorney General James Sues TikTok for Harming Children’s Mental Health
New York Attorney General Letitia James and California Attorney General Rob Bonta co-led a bipartisan coalition of 14 attorneys general in filing lawsuits against the social media platform TikTok this week for misleading the public about the safety of its platform and harming young people’s mental health.
The lawsuits, filed individually by each member of the coalition, allege that TikTok violated state laws by falsely claiming its platform is safe for young people. The suits assert that many young users are struggling with poor mental health and body image issues due to the platform’s addictive features and are getting injured, hospitalized, or dying because of dangerous TikTok “challenges” that are created and promoted on the platform.
“TikTok claims that their platform is safe for young people, but that is far from true,” Attorney General James explained. “In New York and across the country, young people have died or gotten injured doing dangerous TikTok challenges and many more are feeling more sad, anxious, and depressed because of TikTok’s addictive features.”
According to the lawsuits filed by Attorney General James and the bipartisan coalition, TikTok’s underlying business model focuses on maximizing young users’ time on the platform so the company can boost revenue from selling targeted ads. TikTok uses an addictive content-recommendation system designed to keep minors on the platform as long as possible and as often as possible.
Attorney General James and the bipartisan coalition of attorneys general are using state laws to stop TikTok from using these tactics. In addition, the lawsuits seek to impose financial penalties, including disgorgement of all profits resulting from the practices, and to collect damages for users that have been harmed.
Joining Attorney General James and California Attorney General Bonta in filing the lawsuits are the attorneys general of Illinois, Kentucky, Louisiana, Massachusetts, Mississippi, New Jersey, North Carolina, Oregon, South Carolina, Vermont, Washington, and the District of Columbia. Each attorney general filed in their own state jurisdiction.
In the News-New York City
Comptroller DiNapoli: Wall Street’s 2024 First Half Profits Total $23.2B, 79.3% Higher Than Last Year
Wall Street’s $23.2 billion in pretax profits for the first half of 2024 were a 79.3% increase over the same period last year and buoyed by securities trading, underwriting, and selling. Annual profits are currently on track to close out the year much stronger than 2023, according to New York State Comptroller Thomas DiNapoli’s annual report examining the performance of New York City’s securities
industry.
“After record years during the pandemic, Wall Street’s profits were more in line with prepandemic levels in 2022 and 2023,” Comptroller DiNapoli said. “This year has been very strong so far and profits may continue their upward trajectory, to exceed 2023 levels and boost state and city tax revenues. Still, there are many international and domestic uncertainties that pose risks to the industry in the final months of 2024 that my office will be monitoring closely.”
For the first half of 2024, most revenue lines were up over 2023’s first half, including supervisory fees (up $5.6 billion), securities trading (up $5.2 billion), and underwriting (up $4.2 billion). Expenses were up as well due to higher compensation (up $4.5 billion) and other costs, but revenue outpaced those increases for net growth of 17.4% and first half profits of $23.2 billion. If the current pace of growth is maintained, Wall Street’s profits could reach $47.1 billion by the end of 2024, Comptroller DiNapoli’s report estimates.
The Comptroller also reported on the industry’s employment numbers, compensation figures, and tax revenue:
Employment: There were 214,900 jobs in the securities industry across New York state in 2023, up 15,600 positions from the 2019 pre-pandemic total, and more than twice as many securities industry jobs as its closest competitor California (102,100) in 2023.
However, it has been losing jobs to other states for decades, according to the Comptroller. New York was home to one-third of the nation’s industry employees in 1990, but in 2024 it only accounts for 17.4%. Although industry employment in New York grew by 7.8% from 2019 through 2023, it has grown faster elsewhere in places like Texas (26.6% increase, 19,400 jobs added).
Salaries: The average salary for employees of New York City’s securities industry was $471,370 in 2023, the third highest on record, but down 5.2% from 2022 and down 8.7% when adjusted for inflation. Salary declines were largely due to smaller bonuses ($176,500 on average).
Industry firms increased their compensation costs by 9.8% in the first half of 2024 and it is likely that the overall bonus pool, which made up 37% of industry wages last year, will increase as well. Comptroller DiNapoli will release his 2024 average bonus estimate in March 2025.
Tax Revenue: The State depends more heavily on Wall Street for tax revenue than the City because it relies more on personal income tax and does not have a general real property tax, the report detailed. In State Fiscal Year 2023-24, the securities industry contributed $19.4 billion to the state budget, or 19% of total tax collections. Most of this (84%) was from personal income taxes.
The city received $5.1 billion in city fiscal year 2024, 70% from personal income taxes, which accounted for 22.8% of the city’s total personal income tax collections. The industry comprised 7% of the city’s total tax collections. In 2022 (the most recent county level data available), Comptroller DiNapoli’s report estimates the industry contributed 18.6% of the city’s gross product. The industry accounted for 6.1% of the state’s gross product in 2023.
Bills Passed by the Council
Introduction 801-A – Sponsored by Council Members Julie Won – Provides contractors with more insight into agency decisions by establishing a process where contractors can request explanations for subcontractor denials, which agencies must provide within 30 days.
Introduction 802-A – Sponsored by Council Member Julie Won – Requires the City Chief Procurement Officer (CCPO) to establish a mandatory standard insurance policy for all food procurement vendors. 5 Introduction 803-A – Sponsored by Council Member Julie Won – Provides vendors with a formal mechanism to challenge procurement decisions.
Introduction 891-A – Sponsored by Council Member Farah Louis – Require DOHMH to annually post information related to the Maternal Mortality and Morbidity Review Committee on its website.
Introduction 892-A – Sponsored by Council Member Farah Louis – Requires employers to distribute their written lactation room accommodation policy to an employee when they are hired and to post the policy in the workplace as well as on the employer’s intranet, if one exists.
Introduction 912-B – Sponsored by Council Member Jennifer Gutiérrez – Requires the Department of Health and Mental Hygiene (DOHMH) to develop materials that identify resources for parents and guardians of newborn children and distribute such information to new parents and guardians after receiving the registration of any birth.
Introduction 956-C – Sponsored by Council Member Carlina Rivera – Updates the technical requirements for artwork on sidewalk sheds and construction fences and allow for approved or alternative artwork to be affixed or painted directly on such structures.
Briefs
Governor Hochul Signs Legislative Package to Support New York’s Hospitality Industry
Governor Kathy Hochul this week signed a legislative package designed to help small businesses open quickly and stay open longer with reduced costs and fewer paperwork requirements in relation to States Liquor Authority (SLA) licensing.
Chapter 426, sponsored by Senator Jessica Ramos and AM Harvey Epstein, removes the two-year restriction of the 500-foot law, allowing businesses to open months earlier with a temporary permit while their full application is pending. The 500-foot Law prohibits the SLA from issuing an on-premises retail license for the sale and/or consumption of liquor to any premises which is within 500 feet of three establishments that are currently operating with on-premises liquor licenses. The restriction applies to on-premises liquor licenses (bars, restaurants, hotels); special on-premises liquor licenses (taverns, theaters); bottle club licenses (establishments that provide alcoholic beverages for free or allow BYOB, no sales permitted); and restaurant-brewer licenses (brew pubs).
Chapter 431, sponsored by Senator James Skoufis and AM Angelo Santabarara, extends the duration of temporary SLA retail permits from 90 to 180 days. The legislation will reduce paperwork for applicants, while also reducing fees by doubling the length of the original permit and keeping the fees the same. The legislation will also decrease the number of applications that need to be processed by SLA examiners.
“No longer will New York City bars and restaurants have to wait for months to start serving alcoholic beverages…when starting a new business,” Governor Hochul said.
State Supreme Court Judge Rules NY’s New Even-Year Election Law is Unconstitutional
State Supreme Court Judge Gerard Neri in Syracuse this week ruled that the new state law that will move several local elections outside of New York City to even-numbered years starting in 2025 violates the state Constitution.
The law, signed by Governor Kathy Hochul in December 2023, does not apply to all local elections, excluding some city or village elections, and races for county clerk, sheriff, district attorneys, and local judges.
“The prerequisites of a special law were not followed and the subject matter of the Even Year Election Law is inherently a local issue as it affects no state offices” Judge Gerard Neri wrote. “The Even Year Election Law is unconstitutional as specifically prohibited by Article IX of the New York State Constitution.”
Proponents of the law assert that the change, which will coincide with state and federal elections, will increase voter turnout in local elections. Judge Neri negated this issue, and posited that the change may even negatively impact local elections.
“Be it in the local paper, television, radio, online, or one’s mailbox, the competition for a voter’s attention is fierce. New York and the Plaintiff Counties are home to some of the most competitive House of Representative Races, and with that competition comes massive spending on advertising. There is simply no way local races can compete and obtain media attention, paid or earned, in that maelstrom,” he wrote.
“…Voters participate when they are aware, informed, and believe their vote matters. Timing…is a secondary or tertiary concern,” Judge asserted. “Further distinguishing state from local concern is the fact that none of the affected offices are state offices. There is simply no state interest in the timing and changing of terms of local office.”
The lawsuit was initiated by Onondaga County. The state is expected to appeal the decision.
Mayor Adams Appoints Maria Torres-Springer as First Deputy Mayor
New York City Mayor Eric Adams this week announced that Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer will be elevated to the position of first deputy mayor. According to the Mayor, Torres-Springer will assume oversight of the First Deputy Mayor portfolio and will continue to manage her housing and economic development portfolio.
Torres-Springer assumes the role following the departure of First Deputy Mayor Sheena Wright. Her public service also includes positions as Commissioner of the New York City Department of Housing Preservation and Development, President and CEO of the New York City Economic Development Corporation; and Commissioner of the New York City Department of Small Business Services. Torres-Springer also previously was vice president of U.S. Programs at the Ford Foundation.
A graduate of Yale University, Torres-Springer earned a master’s degree in public policy from the Kennedy School of Government at Harvard University
City Council Schedules Public Meetings on City of Yes Zoning for Housing Opportunity Proposal
New York City Council’s Subcommittee on Zoning and Franchises will hold two days of public
meetings on the City of Yes Zoning for Housing Opportunity proposal, October 21st -October 22nd. October 21st will be reserved for testimony from Administration officials and October 22nd will be a public hearing reserved for testimony from the public.
“As the Council approaches its upcoming public meetings on the mayoral administration’s City of Yes: Zoning for Housing Opportunity proposal, we recognize that zoning reform is one important component to address the housing shortage facing New York City.” Council Speaker Adrienne Adams explained. “Yet, zoning reform alone is not a housing plan and cannot address the wide-ranging housing needs of New Yorkers. Addressing the housing crisis requires more than just changes to zoning – it demands holistic solutions to make homes affordable, strengthening tenant protections, removing barriers to housing vouchers, expanding pathways to affordable homeownership, strengthening agencies’ capacities, and investing in neighborhoods.”
Speaker Adams indicated that the Council will put forward a “thorough” housing action plan for the City that “matches the scale of the housing challenges” facing New Yorkers.
New York City Fast Ferry Ridership Surges on Staten Island Renewing Call for Brooklyn Route
Since the Fast Ferry opened for service in 2017 the number of riders has grown to 524,230 in 2023 and 2024 is on track to surpass that ridership, according to data from published reports. As ridership grows, so does demand for additional routes opening from Staten Island to Brooklyn.
In a recent letter to the New York City Economic Development Corporation (EDC) Staten Island Borough President Vito Fossella promoted a fast ferry to Brooklyn, according to the Staten Island Advance.
“We met with EDC in 2022, alongside the office of Brooklyn Borough President Antonio Reynoso to call for a new route between the two boroughs,” the letter stated, per the Staten Island Advance. “We were told, then, that ridership was too low to justify a new route. Now, two years later, it seems the demand is there — not only for the existing fast ferry between St. George and Midtown Manhattan, but for a new fast ferry to Brooklyn.”
Earlier this year, Councilmembers Kamillah Hanks (Staten Island) and Justin Brannan (Brooklyn) submitted a joint letter to New York City Mayor Eric Adams requesting the City implement ferry service between St. George and Bay Ridge, noting that Staten Island and Brooklyn are growing more connected, especially with more people from South Brooklyn moving to Staten Island.
New York City Schools See Revitalization of Playgrounds with New Green Infrastructure
Newly renovated playgrounds are popping up across the five boroughs, with schools undertaking projects to convert asphalt to green infrastructure with the ability to help prevent flooding.
The Trust for Public Land (TPL) is leading the green playground movement, assisting schools through resource sharing, research, policy change and advocacy. Playgrounds at the P.S. 229Q Emanuel Kaplan in Maspeth, Queens and the I.S. 145, the Joseph Pulitzer Magnet School of Innovation and Applied Learning, in Jackson Heights are two of the most recent playground transformations.
Earlier this month, P.S. 229Q unveiled its newly renovated playground. NYC Department of Protection (DEP) provided $1 million
in funding for the renovation, which features play equipment, a track, a basketball court, a volleyball court, picnic tables, an outdoor classroom, and green infrastructure that will capture 720,000 gallons of stormwater annually. “Extreme weather caused by climate change continues to bring more intense rainstorms that can sometimes overwhelm our sewers, so Green Infrastructure playgrounds
like the one at P.S. 229Q play a crucial role in combatting flooding and reducing pollution,” said New York City Chief Climate Officer and DEP Commissioner Rohit T. Aggarwala.
On September 16th, the newly renovated playground at I.S. 145 opened to the public. It was designed by students, staff, and community members, and took just 10 months to complete. It features new trees, colorful student murals, and a turf soccer pitch. The bricks surrounding the trees are permeable to manage millions of gallons of stormwater to infiltrate and water the trees that provide shade for those using the playground.
“This schoolyard shows that we can build beautiful public spaces when we have the right leaders with the right vision,” NYC Councilmember Shekar Krishnan explained. “And we can build them quickly!”
Since 1996, TPL’s NYC Playgrounds Program has helped design and build 229 school and community playgrounds across the five boroughs. TPL creates parks and protects public land so that everyone will have access to the benefits and joys of the outdoors.
Mayor Adams, Speaker Adams Announce New Enforcement Powers to Prevent Sale of Uncertified Batteries and Battery-Powered Micromobility Devices
Strengthened Regulations Now Allow City to Shut Down Repeat Violators
New York City Officials this week announced expanded regulations to crackdown on the sale of uncertified lithium-ion batteries and battery-powered micromobility devices.
Through Local Laws 49 and 50 of 2024, sponsored by New York City Councilmember Gale Brewer, the City now has the authority to padlock any brick-and-mortar retailer that repeatedly violates the City’s regulations on the sale of uncertified batteries and battery-powered micromobility devices. The enforcement provisions of the Local Laws recently went into effect.
Local Law 39, which originally took effect in September 2023, mandates that all battery-powered micromobility devices (including electric bicycles, electric scooters), and the batteries those devices use must be certified to accredited lab safety standards to be sold or rented in New York City.
The NYC Department of Consumer and Worker Protection and FDNY have partnered to conduct joint inspections to ensure compliance with the law. FDNY’s E-Safety Task Force has conducted 983 inspections, issued 782 summonses, including 77 criminal summonses, 367 violation orders, and 20 vacate orders with the DOB. DCWP has conducted more than 650 inspections and issued more than 275 violations to local brick-and-mortar retailers, both independently and in conjunction with FDNY’s E-Safety Task Force and issued 40 cease-and-desist letters and more than 25 violations to online retailers.
Social Security Announces 2.5 Percent Benefit Increase for 2025
Social Security Benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5 percent in 2025, the Social Security Administration announced this week. On average, Social Security retirement benefits will increase by about $50 per month starting in January.
Over the last decade the COLA increase has averaged about 2.6 percent. The COLA was 3.2 percent in 2024
Other adjustments that take effect in January of each year are based on the increase in average
wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax
(taxable maximum) is slated to increase to $176,100 from $168,600.
NYS Fall Foliage Report
Colorful peak foliage is making its way out of the higher elevations of the Adirondacks and into its outlying areas, while gorgeous peak foliage expands throughout much of the northern Catskills.
Peak foliage will also arrive in the southwestern portion of the Finger Lakes and much of the southern portion of the ChautauquaAllegheny region. Leaves in other parts of Upstate New York will generally range from midpoint of change to near-peak and will still be in the early stages of transition in the lower Hudson Valley, throughout New York City and on Long Island. This is according to the field reports from more than 85 volunteer observers for the Empire State Development Division of Tourism’s I LOVE NY program.
I LOVE NY defines “peak” as the best overall appearance the foliage will have during the season, taking into account color transition, brilliance, and leaf droppage.
Coming Up
New York State
Tuesday, October 15th
Expanded In-Home Services for the Elderly Program (EISEP) Assembly Standing Committee on Aging,
250 Broadway – Assembly Hearing Room, 19th Floor, 10 a.m.
New York City
Tuesday, October 15th
Committee on Children and Youth, Council Chambers – City Hall, 11 a.m.
Committee on Immigration, Council Chambers – City Hall, 11 a.m.
Wednesday, October 16th
Committee on Housing and Buildings, Committee Room – City Hall, 10 a.m.
Subcommittee on Zoning and Franchises, Council Chambers – City Hall, 11 a.m.
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