S T A T E   O F   N E W   Y O R K
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                                  9432

                          I N  A S S E M B L Y

                              March 3, 2016
                               ___________

Introduced by M. of A. ABBATE -- read once and referred 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]  NINE 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  ONE  PERCENT OF SUCH REMAINING MONIES RECEIVED
UNDER THIS SECTION SHALL BE PAID TO THE TREASURER OF THE NEW YORK  STATE
PROFESSIONAL  FIREFIGHTERS  ASSOCIATION TO PROMOTE, SUPPORT AND MAINTAIN
THE WELL-BEING OF PAID PROFESSIONAL FIREFIGHTERS EMPLOYED IN  THE  STATE
OF NEW YORK, and the balance shall be paid as specified in paragraph two
[hereof] OF THIS SUBSECTION, in amounts which will be that proportion of
the  balance  so to be distributed which the total amount of fire insur-
ance 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 para-
graph two [hereof] OF THIS SUBSECTION afforded fire protection by a fire
department or fire company and upon  which  the  tax  provided  in  this
section has been paid.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14247-01-6
              

A. 9432                             2

  S  2.  This  act  shall take effect immediately and shall apply to all
monies received by the superintendent of financial services pursuant  to
section  9105 of the insurance law commencing with those monies received
on or before April 1, 2016.