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Senate Bill S5240

2009-2010 Legislative Session

Provides for a certain percentage of fire insurance premium taxes shall be paid for promotion and support of paid professional firefighters in New York state

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Archive: Last Bill Status - In Senate Committee Insurance Committee

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2009-S5240 (ACTIVE) - Details

See Assembly Version of this Bill:
A6006
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง9105, Ins L

2009-S5240 (ACTIVE) - Summary

Provides for a certain percentage of fire insurance premium taxes shall be paid for promotion and support of paid professional firefighters in New York state.

2009-S5240 (ACTIVE) - Sponsor Memo

2009-S5240 (ACTIVE) - Bill Text download pdf 

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

                                  5240

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sen.  SAVINO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend the insurance law, in relation to  the  distribution  of
  fire insurance premium taxes

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

  Section 1. Paragraph 1 of subsection (d) of section 9105 of the insur-
ance law, as amended by chapter 293 of the laws of 1988, is  amended  to
read as follows:
  (1) The amount of all monies which were received by the superintendent
on or before the first day of April in each year under the provisions of
this  section  or section nine thousand one hundred four of this article
shall be distributed by him OR HER not later than the first day of  July
in such year, after adding any earnings resulting from the investment of
such  monies  and deducting the expenses of collection and distribution.
[Ten] FIVE percent of such remaining monies received under this  section
shall be paid to the treasurer of the Firemen's Association of the State
of  New  York  for  the support and maintenance of the firemen's home at
Hudson, New York, and FIVE PERCENT OF  SUCH  REMAINING  MONIES  RECEIVED
UNDER  THIS SECTION SHALL BE PAID TO THE TREASURER OF THE NEW YORK STATE
PROFESSIONAL FIRE FIGHTERS ASSOCIATION TO PROMOTE, SUPPORT AND  MAINTAIN
THE  WELL-BEING  OF PAID PROFESSIONAL FIREFIGHTERS EMPLOYED IN THE STATE
OF NEW YORK, the balance shall be paid as  specified  in  paragraph  two
hereof, in amounts which will be that proportion of the balance so to be
distributed which the total amount of fire insurance business written by
foreign  mutual  fire  insurance  companies on property situated in such
locality bears to the total amount of fire insurance business written by
foreign mutual fire insurance companies on property situated in any  and
all  of the protected localities in the state having treasurers or other
fiscal officers as designated in  paragraph  two  hereof  afforded  fire

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09526-01-9

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