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Senate Bill S2863

2021-2022 Legislative Session

Relates to the distribution of fire insurance premium taxes

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Archive: Last Bill Status - In Senate Committee Insurance Committee

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2021-S2863 (ACTIVE) - Details

See Assembly Version of this Bill:
A4093
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §9105, Ins L
Versions Introduced in Other Legislative Sessions:
2015-2016: S7033, A9432
2017-2018: S4543, A6260
2019-2020: S3811, A5783
2023-2024: S6269, A7160
2025-2026: S6716, A3786

2021-S2863 (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.

2021-S2863 (ACTIVE) - Sponsor Memo

2021-S2863 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2863
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 26, 2021
                                ___________
 
 Introduced by Sens. GOUNARDES, KAMINSKY -- read twice and ordered print-
   ed, 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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