Bill Text: NY A07425 | 2021-2022 | General Assembly | Introduced

New York Assembly Bill 7425 (Prior Session Legislation)

Introduced

Bill Title: Provides that in the case of recovery of an award from the September 11th victim compensation fund consisting solely of non-economic losses, a personal representative may file a consent to the adequacy of the award by all interested parties in lieu of a compromise proceeding.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2022-09-09 - signed chap.557 [A07425 Detail]

Download: New_York-2021-A07425-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          7425

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                       May 7, 2021
                                       ___________

        Introduced by M. of A. ABBATE -- read once and referred to the Committee
          on Judiciary

        AN  ACT  to  amend  the  estates,  powers and trusts law, in relation to
          creating an alternative method to compromising an award issued by  the
          September 11th Victim Compensation Fund ("VCF")

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 5-4.6 of the estates,  powers  and  trusts  law  is
     2  amended by adding a new paragraph (g) to read as follows:
     3    (g)  In the case of a recovery of an award from the September eleventh
     4  victim compensation fund of two thousand  one  established  pursuant  to
     5  title  IV of the federal air transportation safety and system stabiliza-
     6  tion act, public law 107-42, as amended, where the award consists solely
     7  of non-economic losses (funeral expense reimbursement being included  as
     8  non-economic losses herein) a personal representative may file a consent
     9  to  the  adequacy  of  the  award by all interested parties in lieu of a
    10  compromise proceeding.
    11    § 2. This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11207-01-1