Requires covered businesses — those 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 on the impact of AI on hiring and the nature of their AI use for the preceding calendar year. Reports must include employment displacement and hiring data attributable to AI, descriptions of AI objectives, human oversight information, sensitive data use, and risk reduction measures. The Department of Labor must compile an aggregate annual report and submit it to the governor and legislature within 120 days of the reporting deadline. Failure to report subjects the covered business to a civil penalty of up to $500 per day, with a 90-day cure period.