In the wake of the sudden closing of Jevic Transportation Inc. in
Assembly Bill 2934 and Senate Bill 1956 would allow workers to defer payment of interest on mortgage loans for their primary residence for a period of up to 180 days when their employers violate advance notice requirements. The proposed bills seek to stabilize communities and keep workers in their homes while transitioning to new employment. The minimal burdens of the law also likely benefit mortgage lenders by avoiding a spiral of forecloses that can drive down housing prices and prevent lenders from obtaining repayment when loans are foreclosed and homes then auctioned at deeply discounted prices
Assembly Bill 2935 and Senate Bill 1957 empower state officials to seek immediate injunctive relief when advance notice is not provided. The bill seeks to provide an option for more immediate relief to workers, whose lawsuits for monetary damages typically take months or years before settlements or damage awards are entered.
Assembly Bill 2936 and Senate Bill 1958 provide free tuition for laid off workers when space is available in a job training course at a
The Assembly’s bills have reported out of the Assembly Labor Committee and are on their second reading while the Senate’s bills have been referred to the Senate Labor Committee.
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