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Assembly Bill A9034

2009-2010 Legislative Session

Provides that income derived from dividends, premium rate adjustments or other refunds may be credited to the health insurance fund and used as premium adjustment

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Archive: Last Bill Status - In Assembly Committee

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2009-A9034 (ACTIVE) - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Civil Service Law
Laws Affected:
Amd ยง167, Civ Serv L

2009-A9034 (ACTIVE) - Summary

Provides that income derived from dividends, premium rate adjustments or other refunds may be credited to the health insurance fund and used as premium adjustments.

2009-A9034 (ACTIVE) - Bill Text download pdf 

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

                                  9034

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              June 19, 2009
                               ___________

Introduced  by M. of A. FARRELL -- read once and referred to the Commit-
  tee on Governmental Employees

AN ACT to amend the civil service law, in relation to the health  insur-
  ance fund

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

  Section 1. Subdivision 6 of section 167 of the civil service  law,  as
amended  by  section  2  of part C of chapter 56 of the laws of 2006, is
amended to read as follows:
  6. There is hereby created a health  insurance  fund  which  shall  be
available  without  fiscal  year  limitation for premium or subscription
charge payments under any contract or contracts purchased in  accordance
with  this  article.  The  amounts  withheld  from employees and retired
employees under subdivision three of this section, all amounts appropri-
ated by the state  to  such  health  insurance  fund,  and  all  amounts
contributed by any participating employer pursuant to subdivision two of
this  section,  shall  be  credited  to  such health insurance fund. The
income derived from any dividends, premium  rate  adjustments  or  other
refunds  under  any such contract or contracts shall be credited to such
fund and retained therein as a special reserve for  adverse  fluctuation
in  future charges under any such contract or contracts, OR WHERE APPRO-
PRIATE, AS A PREMIUM ADJUSTMENT AS DETERMINED BY  THE  DIRECTOR  OF  THE
BUDGET.   Any interest earned by the investment of moneys in such health
insurance fund shall be added to such special reserve, become a part  of
such  special  reserve,  and  be  used  for  the purpose of such special
reserve.
  S 2. This act shall effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14487-01-9

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