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Senate Bill S6716

2025-2026 Legislative Session

Relates to the distribution of fire insurance premium taxes

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Current Bill Status - In Senate Committee Insurance Committee

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2025-S6716 (ACTIVE) - Details

See Assembly Version of this Bill:
A3786
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §9105, Ins L
Versions Introduced in Other Legislative Sessions:
2015-2016: S7033, A9432
2017-2018: S4543, A6260
2019-2020: S3811, A5783
2021-2022: S2863, A4093
2023-2024: S6269, A7160

2025-S6716 (ACTIVE) - Summary

Relates to the distribution of fire insurance premium taxes; provides that a percentage of fire insurance premium taxes be paid to the treasurer of the NYS Professional Firefighters Association to promote, support and maintain the well-being of paid professional firefighters employed in the state.

2025-S6716 (ACTIVE) - Sponsor Memo

2025-S6716 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6716
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                              March 20, 2025
                                ___________
 
 Introduced  by  Sens.  JACKSON, GOUNARDES, MAY -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Insur-
   ance
 
 AN  ACT  to  amend the insurance law, in relation to the distribution of
   fire insurance premium taxes
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 1 of subsection (d) of section 9105 of the insur-
 ance  law,  as amended by chapter 293 of the laws of 1988, is amended to
 read as follows:
   (1) The amount of all monies which were received by the superintendent
 on or before the first day of April in each year under the provisions of
 this section or section nine thousand one hundred four of  this  article
 shall  be distributed by [him] THEM not later than the first day of July
 in such year, after adding any earnings resulting from the investment of
 such monies and deducting the expenses of collection  and  distribution.
 [Ten]  NINE percent of such remaining monies received under this section
 shall be paid to the treasurer of the [Firemen's]  FIREFIGHTERS  Associ-
 ation  of  the  State of New York for the support and maintenance of the
 [firemen's] FIREFIGHTER'S home at Hudson, New York, AND ONE  PERCENT  OF
 SUCH  REMAINING  MONIES RECEIVED UNDER THIS SECTION SHALL BE PAID TO THE
 TREASURER OF THE NEW YORK STATE PROFESSIONAL FIREFIGHTERS ASSOCIATION TO
 PROMOTE, SUPPORT AND MAINTAIN THE WELL-BEING OF PAID PROFESSIONAL  FIRE-
 FIGHTERS  EMPLOYED  IN  THE  STATE OF NEW YORK, and the balance shall be
 paid as specified in paragraph  two  [hereof]  OF  THIS  SUBSECTION,  in
 amounts  which  will be that proportion of the balance so to be distrib-
 uted which the total  amount  of  fire  insurance  business  written  by
 foreign  mutual  fire  insurance  companies on property situated in such
 locality bears to the total amount of fire insurance business written by
 foreign mutual fire insurance companies on property situated in any  and
 all  of the protected localities in the state having treasurers or other
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07427-01-5

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