Assembly Bill A9821

2023-2024 Legislative Session

Increases the number of properties eligible for the coastal market assistance program

download bill text pdf

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Current Bill Status - In Assembly 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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2023-A9821 (ACTIVE) - Details

See Senate Version of this Bill:
S8320
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §5414, Ins L

2023-A9821 (ACTIVE) - Summary

Increases the number of properties eligible for the coastal market assistance program by providing eligibility to properties within one mile of the shore.

2023-A9821 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9821
 
                           I N  A S S E M B L Y
 
                               April 9, 2024
                                ___________
 
 Introduced  by  M. of A. OTIS -- read once and referred to the Committee
   on Insurance
 
 AN ACT to amend the insurance law, in relation to increasing the  number
   of properties eligible for the coastal market assistance program
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subsection (c) of section 5414 of  the  insurance  law,  as
 added by chapter 136 of the laws of 2008, is amended to read as follows:
   (c)  The  association  shall  administer the coastal market assistance
 program. The association may, subject to approval of the superintendent,
 adopt reasonable eligibility standards for participation in the  coastal
 market  assistance  program.  AT  A MINIMUM, PROPERTIES ELIGIBLE FOR THE
 PROGRAM SHALL BE LOCATED WITHIN ONE MILE OF THE SHORE. FOR  PURPOSES  OF
 THIS SECTION, SHORE SHALL MEAN SALT-WATER OCEAN, SOUND, BAY, INLET, LAKE
 ERIE,  LAKE  ONTARIO, THE SAINT LAWRENCE RIVER OR THE NIAGARA RIVER WITH
 DISTANCE MEASURED FROM MEAN HIGH WATER. THE ASSOCIATION MAY ADOPT  ADDI-
 TIONAL  OR MORE EXPANSIVE ELIGIBILITY STANDARDS FOR PARTICIPATION IN THE
 COASTAL MARKET ASSISTANCE PROGRAM.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13698-04-4

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