Assembly Bill A8494

2025-2026 Legislative Session

Relates to the time period for submitting reports regarding the valuation manual and makes provisions relating to such valuation manual permanent

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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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2025-A8494 (ACTIVE) - Details

See Senate Version of this Bill:
S8097
Current Committee:
Assembly Insurance
Law Section:
Insurance
Laws Affected:
Amd §§2 & 3, Chap 394 of 2018

2025-A8494 (ACTIVE) - Summary

Relates to the time period for submitting reports regarding the valuation manual; makes provisions relating to such valuation manual permanent.

2025-A8494 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8494
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 20, 2025
                                ___________
 
 Introduced by M. of A. WEPRIN -- read once and referred to the Committee
   on Insurance
 
 AN  ACT  to amend chapter 394 of the laws of 2018 amending the insurance
   law relating to the implementation of a valuation manual and  relating
   to  directing the department of financial services to study the impact
   of the implementation of such valuation manual,  in  relation  to  the
   time  period  for submitting reports and making such provisions perma-
   nent
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision 3 of section 2 and section 3 of chapter 394 of
 the laws of 2018 amending the insurance law relating to the  implementa-
 tion  of  a valuation manual and relating to directing the department of
 financial services to study the impact of  the  implementation  of  such
 valuation manual, are amended to read as follows:
   3.  The  superintendent  of the department of financial services shall
 submit a report to the governor, temporary president of the  senate  and
 speaker  of  the  assembly of the department's findings in the second[,]
 AND fifth [and seventh] years after the operative date of the  valuation
 manual.
   §  3.  This  act  shall  take effect immediately[; and shall be deemed
 repealed 10 years after it shall have become a law].
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11913-01-5

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