Assembly Bill A2780

2009-2010 Legislative Session

Requires state comptroller to reimburse state insurance fund and property/casualty insurance security fund for monies transferred from said funds to the general fund

download bill text pdf

Sponsored By

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

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2009-A2780 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance

2009-A2780 (ACTIVE) - Summary

Requires state comptroller to reimburse the state insurance fund and the property/casualty insurance security fund for monies transferred from said funds to the general fund, up to $300 million each year until the entire amounts are repaid; reimburses state insurance fund first and then the property/casualty insurance security fund.

2009-A2780 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2780

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 21, 2009
                               ___________

Introduced  by  M.  of  A. SCHIMMINGER -- Multi-Sponsored by -- M. of A.
  COLTON, GALEF, MAGEE, SWEENEY -- read once and referred to the Commit-
  tee on Insurance

AN ACT in relation to reimbursement of monies from the general  fund  to
  the  state insurance fund and the property/casualty insurance security
  fund

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Notwithstanding any inconsistent provision of law, in order
to  reimburse  the state insurance fund and the property/casualty insur-
ance security fund for monies transferred from said funds to the general
fund, the state comptroller is hereby required to pay the  sum  of  $300
million  each  year  or, in the event that the sum due is less than $300
million, then said lesser sum until the  entire  amount  of  the  monies
transferred  from  the  state  insurance  fund and the property/casualty
insurance security fund to the general fund are  fully  repaid.    These
monies  shall  first  be  repaid to the state insurance fund until it is
fully  reimbursed  and  then  said  monies  shall   be   paid   to   the
property/casualty insurance security fund until it is fully reimbursed.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03950-02-9

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