Senate Bill S7033

2015-2016 Legislative Session

Relates to the distribution of fire insurance premium taxes

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance 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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2015-S7033 (ACTIVE) - Details

See Assembly Version of this Bill:
A9432
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §9105, Ins L
Versions Introduced in Other Legislative Sessions:
2017-2018: S4543, A6260
2019-2020: S3811, A5783
2021-2022: S2863, A4093
2023-2024: S6269, A7160

2015-S7033 (ACTIVE) - Summary

Relates to the distribution of fire insurance premium taxes; provides that a percentage of fire insurance premium taxes be paid to the treasurer of the NYS Professional Firefighters Association to promote, support and maintain the well-being of paid professional firefighters employed in the state.

2015-S7033 (ACTIVE) - Sponsor Memo

2015-S7033 (ACTIVE) - Bill Text download pdf 

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

                                  7033

                            I N  S E N A T E

                             March 17, 2016
                               ___________

Introduced  by  Sen.  GOLDEN -- 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] 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

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