Bill Text: NY A05783 | 2019-2020 | General Assembly | Introduced

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Bill Title: 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.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2020-01-08 - referred to insurance [A05783 Detail]

Download: New_York-2019-A05783-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5783
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 19, 2019
                                       ___________
        Introduced by M. of A. ABBATE -- read once and referred to the Committee
          on Insurance
        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:
     1    Section 1. Paragraph 1 of subsection (d) of section 9105 of the insur-
     2  ance  law,  as amended by chapter 293 of the laws of 1988, is amended to
     3  read as follows:
     4    (1) The amount of all monies which were received by the superintendent
     5  on or before the first day of April in each year under the provisions of
     6  this section or section nine thousand one hundred four of  this  article
     7  shall  be distributed by him or her not later than the first day of July
     8  in such year, after adding any earnings resulting from the investment of
     9  such monies and deducting the expenses of collection  and  distribution.
    10  [Ten]  Nine percent of such remaining monies received under this section
    11  shall be paid to the treasurer of the Firemen's Association of the State
    12  of New York for the support and maintenance of  the  firemen's  home  at
    13  Hudson,  New  York,  and  one  percent of such remaining monies received
    14  under this section shall be paid to the treasurer of the New York  State
    15  Professional  Firefighters  Association to promote, support and maintain
    16  the well-being of paid professional firefighters employed in  the  state
    17  of New York, and the balance shall be paid as specified in paragraph two
    18  [hereof] of this subsection, in amounts which will be that proportion of
    19  the  balance  so to be distributed which the total amount of fire insur-
    20  ance business written by foreign  mutual  fire  insurance  companies  on
    21  property  situated  in  such  locality bears to the total amount of fire
    22  insurance business written by foreign mutual fire insurance companies on
    23  property situated in any and all of  the  protected  localities  in  the
    24  state  having treasurers or other fiscal officers as designated in para-
    25  graph two [hereof] of this subsection afforded fire protection by a fire
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06425-01-9
        A. 5783                             2
     1  department or fire company and upon  which  the  tax  provided  in  this
     2  section has been paid.
     3    §  2.  This  act  shall take effect immediately and shall apply to all
     4  monies received by the superintendent of financial services pursuant  to
     5  section  9105 of the insurance law commencing with those monies received
     6  on or after April 1, 2020.