N.Y. Comp. Codes R. & Regs. tit. 11 § 364.2
There is hereby established within the sole custody of the superintendent, a fund to be called the Paid Family Leave Risk Adjustment Fund, to receive transfers of funds from issuers for those years in which it is determined by the superintendent in consultation with the chair of the workers' compensation board that the family leave benefits coverage provided by issuers will be subject to the risk adjustment mechanism established by section 363.5 of this Title. The moneys so received and deposited in the Paid Family Leave Risk Adjustment Fund shall not be deemed State funds. The superintendent is authorized, in his or her sole discretion, to make disbursements without an appropriation from the Paid Family Leave Risk Adjustment Fund for the purpose of remitting to issuers any moneys due them as a result of the risk adjustment mechanism established by section 363.5 of this Title, and such disbursements shall be made pursuant to that section.
N.Y. Comp. Codes R. & Regs. Tit. 11 § 364.2