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Will New York ban or limit noncompetes in 2023?
13
Ṁ250Ṁ1.5k
resolved Jan 1
Resolved
NO

Resolves YES if by the end of 2023, New York state enacts legislation to prohibit or limit the use of employee non-competition agreements. Otherwise NO.

For this question, it does not matter when the legislation goes into effect, only when the legislation is enacted.

Context

https://ogletree.com/insights/new-york-state-senate-passes-prohibitions-on-non-competes/

On June 7, 2023, the New York State Senate approved two bills concerning non-compete agreements. The first, Bill No. S3100A, proposes a ban on all non-compete agreements, while the second, Bill No. S6748, proposes a limited ban of certain non-compete agreements. Both bills are currently pending before the New York State Assembly. If the State Assembly passes the bills, they will be sent to Governor Kathy Hochul for her sign-off, which could come as early as this week.

Note: Enactment of either of these bills would satisfy the criteria for YES.

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Hochul vetoed the bill

One of the bills has been passed by both houses and is currently before the governor:

https://www.wsj.com/politics/policy/new-york-non-compete-employment-a72a006e

predictedYES

https://apnews.com/article/new-york-noncompete-agreement-ban-a7fb8fc9f683422ba291d976c1862b09

Horror stories about companies using noncompete agreements to trap workers in middling jobs or punish them for taking their skills elsewhere for better pay prompted New York legislators to pass a bill last June that would ban noncompete agreements. Five months later, though, Gov. Kathy Hochul hasn’t said whether she intends to sign the legislation, which has come under a fierce attack by business groups.