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Senate Bill S6464

2021-2022 Legislative Session

Directs the department of financial services to conduct a study on requiring homeowners in high-risk flood areas to obtain flood insurance

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Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee

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2021-S6464 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Financial Services

2021-S6464 (ACTIVE) - Summary

Authorizes and directs the department of financial services to conduct a study on the feasibility and impact of requiring homeowners in high-risk flood areas to obtain flood insurance as a condition of obtaining a homeowner's policy; requires a report of the findings and any legislative recommendations to the governor, the temporary president of the senate, the minority leader of the senate, the speaker of the assembly and the minority leader of the assembly.

2021-S6464 (ACTIVE) - Sponsor Memo

2021-S6464 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6464
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              April 29, 2021
                                ___________
 
 Introduced  by  Sen.  BROOKS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Insurance
 
 AN ACT directing the department of financial services to conduct a study
   on requiring homeowners in  high-risk  flood  areas  to  obtain  flood
   insurance

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The department of financial services is  hereby  authorized
 and directed to conduct a study on the feasibility and impact of requir-
 ing  homeowners  in high-risk flood areas to obtain flood insurance as a
 condition of obtaining a homeowner's policy.
   § 2. The department of financial services may consult with  any  state
 or  local office, agency, or department and request information from any
 such entity that is relevant and material  to  the  completion  of  this
 study and report.
   §  3. No later than one year after the effective date of this act, the
 department of financial services shall deliver a report of the  findings
 of  the  study  conducted  pursuant  to  section one of this act and any
 legislative recommendations deemed necessary to the governor, the tempo-
 rary president of the senate, the minority leader  of  the  senate,  the
 speaker of the assembly and the minority leader of the assembly.
   § 4. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10288-01-1

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