NY State Senate Bill 2021-S6464

Senate Bill S6464

2021-2022 Legislative Session

Directs the department of financial services to conduct a study on requiring homeowners in high-risk flood areas to obtain flood insurance

download bill text pdf

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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to insurance
Apr 29, 2021	referred to insurance

2021-S6464 (ACTIVE) - Details

Current Committee:: Senate Insurance
Law Section:: Financial Services

2021-S6464 (ACTIVE) - Summary

Authorizes and directs the department of financial services to conduct a study on the feasibility and impact of requiring homeowners in high-risk flood areas to obtain flood insurance as a condition of obtaining a homeowner's policy; requires a report of the findings and any legislative recommendations to the governor, the temporary president of the senate, the minority leader of the senate, the speaker of the assembly and the minority leader of the assembly.

2021-S6464 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S6464

SPONSOR: BROOKS
 
TITLE OF BILL:

An act directing the department of financial services to conduct a study
on requiring homeowners in high-risk flood areas to obtain flood insur-
ance

 
PURPOSE:

The purpose of this bill is to mandate that the Department of Financial
Services do a study on the impact and feasibility of homeowners in high-
risk flood zones being required to have flood insurance as a condition
of obtaining a homeowner's policy.

 
SUMMARY OF PROVISIONS:

Section 1 authorizes the Department of Financial Services to conduct a
study on the feasibility and impact of homeowners in high-risk flood
areas being required to obtain flood insurance as part of getting a

homeowner's policy.

Section 2 provides that the department may consult with any state or
local office, agency, or department to complete this study.

Section 3 provides that no later than one year after the effective date
of the bill, the department of financial services shall deliver a report
of the findings of the study conducted pursuant to section one of this
act and any legislative recommendations deemed necessary to the gover-
nor, the temporary president of the senate, the minority leader of the
senate, the speaker of the assembly and the minority leader of the
assembly.

Section 4 is the enacting clause.

 
JUSTIFICATION:

Flooding is a dangerous and often underestimated form of natural disas-
ter. Many times when it comes to flooding, insurance is brought into the
picture when the damage has already been done and it is too late. This
bill would authorize the DepatInient of Financial Services to conduct a
study on how expensive mandating obtaining flood insurance would be for
homeowners who live in high-risk flood areas. Depending on the outcome
of the study, the legislature can take further steps to mandate (or
choose not to mandate) having flood insurance for homeowners in high-
risk flood areas.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2021-S6464 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6464
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              April 29, 2021
                                ___________
 
 Introduced  by  Sen.  BROOKS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Insurance
 
 AN ACT directing the department of financial services to conduct a study
   on requiring homeowners in  high-risk  flood  areas  to  obtain  flood
   insurance

   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 is  hereby  authorized
 and directed to conduct a study on the feasibility and impact of requir-
 ing  homeowners  in high-risk flood areas to obtain flood insurance as a
 condition of obtaining a homeowner's policy.
   § 2. The department of financial services may consult with  any  state
 or  local office, agency, or department and request information from any
 such entity that is relevant and material  to  the  completion  of  this
 study and report.
   §  3. No later than one year after the effective date of this act, the
 department of financial services shall deliver a report of the  findings
 of  the  study  conducted  pursuant  to  section one of this act and any
 legislative recommendations deemed necessary to the governor, the tempo-
 rary president of the senate, the minority leader  of  the  senate,  the
 speaker of the assembly and the minority leader of the assembly.
   § 4. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10288-01-1

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.