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NY A03541
Bill
Status
Introduced
1/27/2009
Primary Sponsor
Nick Perry
Click for details
AI Summary
- Imposes a tax on health maintenance organizations (HMOs) authorized to operate in New York at a rate of 0.5% to 1% of reported profits annually
- Commissioner of Taxation and Finance, in conjunction with the Superintendent of Insurance, shall promulgate rules and regulations for tax implementation
- Establishes the Medical Malpractice Relief Fund in the joint custody of the State Comptroller and Commissioner of Taxation and Finance to receive all HMO tax revenues
- Directs the Superintendent of Insurance to expend fund moneys (following legislative appropriation) to provide relief to health care practitioners by reducing medical malpractice insurance costs
- Takes effect April 1, 2010, with authority for immediate implementation of necessary rules and regulations
Legislative Description
An act to amend the tax law and the state finance law, in relation to imposing a tax on health maintenance organizations and creating the medical malpractice relief fund
Last Action
held for consideration in ways and means
7/1/2010
Committee Referrals
Ways and Means1/27/2009
Full Bill Text
No bill text available