assembly Bill A9519

2021-2022 Legislative Session

Imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 16, 2022 referred to insurance

Co-Sponsors

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A9519 (ACTIVE) - Details

See Senate Version of this Bill:
S8470
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §9112, amd §§1109 & 9106, Ins L

A9519 (ACTIVE) - Summary

Imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations to be deposited in the New York state agency trust fund, distressed provider assistance account.

A9519 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9519
 
                           I N  A S S E M B L Y
 
                              March 16, 2022
                                ___________
 
 Introduced  by M. of A. DILAN -- read once and referred to the Committee
   on Insurance
 
 AN ACT to amend the insurance law, in relation  to  imposing  a  tax  on
   out-of-state  transfers,  dividends,  payments,  and  loans by certain
   accident and health insurance companies and health maintenance  organ-
   izations
 
   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  9112
 to read as follows:
   § 9112.  TAX ON OUT-OF-STATE TRANSFERS, DIVIDENDS, PAYMENTS, AND LOANS
 BY  ACCIDENT  AND  HEALTH  INSURANCE  COMPANIES  LICENSED  UNDER ARTICLE
 FORTY-TWO OF THIS CHAPTER AND HEALTH MAINTENANCE ORGANIZATIONS.  (A)  AS
 USED  IN THIS SECTION THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEAN-
 INGS:
   (1) "DOMESTIC INSURER" MEANS AN INSURER THAT IS AN ACCIDENT AND HEALTH
 INSURANCE COMPANY LICENSED UNDER ARTICLE FORTY-TWO OF THIS CHAPTER OR AN
 ORGANIZATION COMPLYING WITH THE PROVISIONS OF ARTICLE FORTY-FOUR OF  THE
 PUBLIC HEALTH LAW.
   (2)  "COMMERCIAL  PROGRAM" MEANS ANY PROGRAM OF HEALTH INSURANCE OTHER
 THAN (I) PROGRAMS FOR INDIVIDUALS COVERED BY ARTICLE FIVE OF THE  SOCIAL
 SERVICES  LAW,  ARTICLE  TWENTY-FIVE  OF  THE  PUBLIC HEALTH LAW, TITLES
 XVIII, XIX, AND XXI OF THE FEDERAL SOCIAL SECURITY ACT, OR CHAPTER 89 OF
 TITLE 5 OF THE UNITED STATES CODE OR (II) PROGRAMS OF  INSURANCE  AVAIL-
 ABLE  ON  THE HEALTH BENEFIT EXCHANGE ESTABLISHED BY SECTION TWO HUNDRED
 SIXTY-EIGHT OF THE PUBLIC HEALTH LAW.
   (B) EFFECTIVE ON AND AFTER APRIL FIRST, TWO THOUSAND TWENTY-TWO, THERE
 SHALL BE PAID BY EVERY DOMESTIC INSURER TO  THE  SUPERINTENDENT,  ON  OR
 BEFORE  THE  FIRST DAY OF MARCH, A TAX EQUAL TO NINE AND SIXTY-THREE ONE
 HUNDREDTHS PERCENT OF ANY DIVIDENDS, ORDINARY, EXTRAORDINARY, OR  OTHER-
 WISE,  OR  OTHER  FUNDS DERIVING FROM SUBSCRIBER PREPAYMENTS OR PREMIUMS
 RECEIVED FOR THE DOMESTIC INSURER'S COMMERCIAL PROGRAMS THAT  ARE  PAID,
 TRANSFERRED, DISTRIBUTED, OR LOANED TO AN ENTITY IN SUCH DOMESTIC INSUR-
 ER'S  HOLDING  COMPANY  SYSTEM  THAT  IS  DOMICILED  IN ANY OTHER STATE;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.