From Loopinsight.com:
Any smartphone that is manufactured on or after January first, two thousand sixteen, and sold or leased in New York, shall be capable of being decrypted and unlocked by its manufacturer or its operating system provider. This means the mere threat of this law will have a chilling effect on iPhone sales. If someone sells an iPhone built this year, they are subject to massive fines ($2500 per phone) on the off chance that the bill passes.