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Assembly Bill A6299

2015-2016 Legislative Session

Requires a reduction in the premium for fire insurance on a historic site with a sprinkler system and owned by a nonprofit corporation

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Archive: Last Bill Status - In Assembly Committee

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2015-A6299 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add ยง2346-b, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5514
2011-2012: A4613
2013-2014: A5481
2017-2018: A6850
2019-2020: A5805

2015-A6299 (ACTIVE) - Summary

Requires a reduction in the premium for fire insurance on a historic site with a sprinkler system and owned by a nonprofit corporation.

2015-A6299 (ACTIVE) - Bill Text download pdf 

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

                                  6299

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             March 20, 2015
                               ___________

Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
  Committee on Insurance

AN ACT to amend the insurance law, in relation to requiring reduction in
  rates of premiums  for  commercial  risk  fire  insurance  on  certain
  historic sites owned and operated by a not-for-profit corporation

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

  Section 1. The insurance law is amended by adding a new section 2346-b
to read as follows:
  S 2346-B. REDUCTION IN RATES OF COMMERCIAL RISK FIRE INSURANCE  PREMI-
UMS;  NONPROFIT  HISTORIC SITES. THE SUPERINTENDENT SHALL PROVIDE FOR AN
ACTUARIALLY APPROPRIATE REDUCTION IN THE RATES  OF  THE  FIRE  INSURANCE
COMPONENT OF COMMERCIAL RISK INSURANCE PREMIUMS APPLICABLE TO A HISTORIC
SITE,  AS  DEFINED IN SUBDIVISION FOURTEEN OF SECTION 1.03 OF THE PARKS,
RECREATION AND HISTORIC PRESERVATION  LAW,  EQUIPPED  WITH  AN  APPROVED
SPRINKLER SYSTEM AND OWNED AND OPERATED BY A NOT-FOR-PROFIT CORPORATION.
  S  2.  This  act  shall take effect on the sixtieth day after it shall
have become a law, and shall apply  to  all  policies  issued,  renewed,
modified,  altered  or  amended on or after such date; provided that any
and all rules and regulations and any other measures necessary to imple-
ment any provision of this act on its effective date shall be promulgat-
ed and taken on or before such date.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10025-01-5

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