Requires covered businesses (entities doing business in New York with more than 100 employees or that are publicly traded) to submit annual reports to the Department of Labor by March 1 each year on the impact of AI on hiring and the nature of AI use during the prior calendar year. Reports must include employment displacement and creation data attributable to AI, as well as information on AI objectives, human oversight, sensitive data use, and risk reduction measures. The Department of Labor must compile an annual aggregate report and publish it on its website. Non-compliance is subject to a civil penalty of up to $500 per day, with a 90-day cure period that may result in waiver or reduction of penalties.