New York signs licensure changes into law

New York Gov. Kathy Hochul signed a bill into law that will create an additional pathway to CPA licensure — marking the latest state to pass changes to licensure requirements.

Backed by the New York State Society of CPAs, the legislation creates a third pathway to licensure: 120 credit-hours (or what is equivalent to a bachelor's degree), two years of experience and passing the CPA exam. It also ensures practice mobility so out-of-state accountants can serve clients in New York.

Stephanie Keith/Bloomberg

"The Governor has officially signed the 120-credit-hour CPA pathway into law, giving future CPAs an additional route to enter the profession," Calvin Harris Jr., CEO of the New York State Society of CPAs, said in a post. "This new pathway becomes effective one year from today — and represents one of the most significant pipeline reforms in a generation."

The New York State Legislature passed the bill back in June, passing unanimously in the Assembly and with two negative votes in the Senate. New York is one of dozens of states to update licensure requirements in an effort to address the ongoing talent shortage.