New York Governor Kathy Hochul has signed the RAISE Act, legislation that requires large developers of advanced artificial intelligence models to adopt formal safety and transparency frameworks. The law obliges covered companies to disclose information about their risk controls, publish safety practices, and report AI-related incidents to the state within 72 hours of determining an event has occurred. It also establishes a new oversight office within the New York State Department of Financial Services, which will review large frontier developers and issue public annual assessments. The measure aligns New York with emerging state-level approaches to AI governance as federal standards remain limited.
Governor Hochul said the law sets a clear benchmark for accountability, stating, “By enacting the RAISE Act, New York is once again leading the nation in setting a strong and sensible standard for frontier AI safety.” The statute authorizes the state Attorney General to pursue civil enforcement actions for noncompliance or false reporting, with penalties of up to $1 million for an initial violation and up to $3 million for repeat offenses. Acting DFS Superintendent Kaitlin Asrow said, “DFS looks forward to supporting Governor Hochul’s continued efforts to foster innovation and establish standards for the safe development of artificial intelligence models.” State Senator Andrew Gournardes added, “This is an enormous win for the safety of our communities.” Lawmakers said the measure supports innovation while addressing acknowledged risks tied to advanced AI systems.
