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Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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| Apr 21, 2010 |
referred to insurance |
Assembly Bill A10774
2009-2010 Legislative Session
Sponsored By
BARCLAY
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Thomas F. O'Mara
Gary Finch
Clifford Crouch
Nancy Calhoun
multi-Sponsors
Stephen Hawley
Michael Montesano
David Townsend
2009-A10774 (ACTIVE) - Details
2009-A10774 (ACTIVE) - Sponsor Memo
BILL NUMBER:A10774
TITLE OF BILL: An act to amend the insurance law, in relation to
assessments to defray operating expenses of the department
PURPOSE OR GENERAL IDEA OF BILL: To reduce the cost of insurance in New
York State.
SUMMARY OF SPECIFIC PROVISIONS: Section one amends Insurance Law
section 332(a) to remove the authority of the State to assess the cost
of indirect expenses of Insurance Department on the insurance industry.
Section two is the effective date..
EFFECTS OF PRESENT LAW THIS BILL WOULD ALTER: Existing law authorizes
the State of New York to assess to the insurance industry the cost of
direct and indirect expenses of the Insurance Department for industry
oversight and consumer protection.
JUSTIFICATION: For approximately a decade, expenses above and beyond
those necessary to support the mission of the Insurance Department have
been levied against the insurance industry and suballocated to other
agencies for efforts unrelated to insurance industry regulation. Exam-
ples include suballocations to the, Department of State for building
code enforcement and the State fire reporting system and to the Depart-
ment of Health for lead poisoning and childhood obesity prevention
programs. These are worthy programs but for the purpose of transparency
2009-A10774 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
10774
I N A S S E M B L Y
April 21, 2010
___________
Introduced by M. of A. BARCLAY -- read once and referred to the Commit-
tee on Insurance
AN ACT to amend the insurance law, in relation to assessments to defray
operating expenses of the department
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subsection (a) of section 332 of the insurance law, as
amended by chapter 61 of the laws of 1989, is amended to read as
follows:
(a) The expenses of the department, excluding the expenses of the
supervision of employee welfare funds, for any fiscal year, including
all direct [and indirect] costs, as approved by the director of the
budget and audited by the comptroller, except as otherwise provided by
sections one hundred fifty-one and two hundred twenty-eight of the work-
ers' compensation law and by section sixty of the volunteer firefight-
ers' benefit law, shall be assessed by the superintendent pro rata upon
all domestic insurers and all licensed United States branches of alien
insurers domiciled in this state within the meaning of paragraph four of
subsection (b) of section seven thousand four hundred eight of this
chapter, in proportion to the gross direct premiums and other consider-
ations, written or received by them in this state during the calendar
year ending December thirty-first immediately preceding the end of the
fiscal year for which the assessment is made (less return premiums and
considerations thereon) for policies or contracts of insurance covering
property or risks resident or located in this state the issuance of
which policies or contracts requires a license from the superintendent;
and the superintendent shall levy and collect such assessments and pay
the same into the state treasury, subject to the provisions of section
one hundred twenty-one of the state finance law and subsection (b)
[hereof] OF THIS SECTION.
S 2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15205-01-0
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