Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 22, 2021 |
approval memo.143 signed chap.790 |
Dec 10, 2021 |
delivered to governor |
May 25, 2021 |
returned to senate passed assembly ordered to third reading rules cal.123 substituted for a5574 |
May 05, 2021 |
referred to ways and means delivered to assembly passed senate |
Apr 28, 2021 |
advanced to third reading |
Apr 27, 2021 |
2nd report cal. |
Apr 26, 2021 |
1st report cal.741 |
Feb 26, 2021 |
referred to insurance |
Senate Bill S5231
Signed By Governor2021-2022 Legislative Session
Sponsored By
(D) 27th Senate District
Archive: Last Bill Status - Signed by Governor
- 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
Actions
Votes
co-Sponsors
(R, C, IP) 54th Senate District
(R, C) Senate District
2021-S5231 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5574
- Law Section:
- Financial Services
2021-S5231 (ACTIVE) - Summary
Directs the department of financial services, in coordination with the division of housing and community renewal, to conduct a study examining the increasing costs of insurance premiums and the lack of availability of insurance coverage for affordable housing developments.
2021-S5231 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5231 SPONSOR: KAVANAGH TITLE OF BILL: An act in relation to directing the department of financial services and the division of housing and community renewal to conduct a study examin- ing the increasing costs of insurance premiums and the lack of avail- ability of insurance coverage for affordable housing PURPOSE: To identify the potential impact, over the next ten years, of insurance premium increases and unavailability of insurance coverage for afforda- ble housing development and preservation. SUMMARY OF PROVISIONS: Section 1 directs DFS and HCR to conduct a study to examine the increase in insurance premiums and the lack of availability of insurance coverage for affordable housing developments in NYS.
2021-S5231 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5231 2021-2022 Regular Sessions I N S E N A T E February 26, 2021 ___________ Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT in relation to directing the department of financial services and the division of housing and community renewal to conduct a study exam- ining the increasing costs of insurance premiums and the lack of availability of insurance coverage for affordable housing THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The department of financial services, in coordination with the division of housing and community renewal, shall conduct a study to examine the increases in insurance premiums and the lack of availability of insurance coverage for affordable housing developments in New York state. The department and the division shall: (a) analyze the factors that increase insurance costs for such housing developments and analyze the factors that may limit insurers from offer- ing coverage for affordable housing projects; and (b) identify the potential impact, over the next ten years, of insur- ance premium increases and unavailability of insurance coverage for affordable housing development and preservation, including, but not limited to, the projected total reduction in affordable housing units by region, the inability to develop affordable housing in certain areas and any other topic or issue that is determined to be relevant to the completion of the study by the department and the division. § 2. The department of financial services and the division of housing and community renewal shall jointly prepare a report which shall be submitted to the governor, the temporary president of the senate, the speaker of the assembly, the minority leader of the senate and the minority leader of the assembly, within eight months after the effective date of this act, containing findings and recommendations for potential legislative and regulatory actions to address the costs and unavailabil- ity of insurance. § 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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