Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 22, 2023 |
vetoed memo.136 |
Dec 12, 2023 |
delivered to governor |
Jun 09, 2023 |
returned to senate passed assembly ordered to third reading rules cal.762 substituted for a5294 |
Jun 06, 2023 |
referred to ways and means delivered to assembly passed senate |
Jun 01, 2023 |
ordered to third reading cal.1484 committee discharged and committed to rules |
Feb 16, 2023 |
referred to insurance |
Senate Bill S4862
Vetoed By Governor2023-2024 Legislative Session
Sponsored By
(D) 14th Senate District
Current Bill Status - Vetoed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Vetoed By Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(D) 16th Senate District
(D) 20th Senate District
(D) 10th Senate District
(D) 11th Senate District
2023-S4862 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5294
- Law Section:
- Insurance Law
- Laws Affected:
- Add §7013, Ins L; add §89-dd, St Fin L
2023-S4862 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4862 SPONSOR: COMRIE TITLE OF BILL: An act to amend the insurance law, in relation to establishing a captive insurance program for commuter vans; and to amend the state finance law, in relation to establishing the commuter van trust fund PURPOSE: The purpose of this legislation is to direct the executive to deliver commuter van stabilization money allocated in FY23 in a manner conducive to enabling a long term commuter van insurance pool that will stabilize the market for several years to come SUMMARY OF PROVISIONS: Authorizes superintendent to establish a commuter van captive insurance program utilizing FY 23 Commuter Van Stabilization Money Outlines definition of commuter vans
2023-S4862 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4862 2023-2024 Regular Sessions I N S E N A T E February 16, 2023 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law, in relation to establishing a captive insurance program for commuter vans; and to amend the state finance law, in relation to establishing the commuter van trust fund 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 7013 to read as follows: § 7013. CAPTIVE INSURANCE PROGRAM FOR COMMUTER VANS UTILIZING EXISTING MONEYS PROVIDED VIA NEW YORK STATE COMMUTER VAN STABILIZATION PILOT PROGRAM. (A) THE SUPERINTENDENT SHALL UTILIZE AND IMPLEMENT A CAPTIVE INSURANCE PROGRAM FOR COMMUTER VANS THAT ARE ENGAGED IN THE BUSINESS OF CARRYING OR TRANSPORTING PASSENGERS FOR HIRE. THE PROGRAM SHALL INCLUDE, BUT SHALL NOT BE LIMITED TO: (1) IDENTIFYING AND LICENSING A CAPTIVE INSURANCE COMPANY OR COMPANIES TO PROVIDE NECESSARY INSURANCE COVERAGE TO COMMUTER VANS; (2) STANDARDS FOR ENROLLMENT OF ELIGIBLE COMMUTER VANS, INCLUDING MECHANISMS FOR DETERMINING ELIGIBILITY; AND (3) STANDARDS FOR MONITORING THE PERFORMANCE OF SUCH CAPTIVE INSURANCE COMPANY OR COMPANIES IN PROVIDING AFFORDABLE INSURANCE COVERAGE TO COMMUTER VANS PARTICIPATING IN THE PROGRAM PURSUANT TO SUBSECTION (C) OF THIS SECTION. (B) FOR THE PURPOSES OF THIS SECTION, THE TERM "COMMUTER VAN" SHALL MEAN A COMMUTER VAN SERVICE HAVING A SEATING CAPACITY OF NINE PASSENGERS BUT NOT MORE THAN TWENTY-FOUR PASSENGERS OR SUCH GREATER CAPACITY AS THE SUPERINTENDENT MAY ESTABLISH BY RULE AND CARRYING PASSENGERS FOR HIRE. (C) INSURANCE COMPANIES SHALL MAINTAIN REQUIREMENTS, INCLUDING BUT NOT LIMITED TO: $500,000 COMBINED SINGLE LIMITS (CSL); $50,000 PERSONAL INJURY PROTECTION (PIP) (BASIC); AND $25,000/$50,000 UNINSURED MOTORIST COVERAGE (UM/UIM). IN ADDITION, ALL NO FAULT INSURANCE RELATED TO EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09645-01-3
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