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NY A07160
Bill
Status
Introduced
5/11/2023
Primary Sponsor
David Weprin
Click for details
AI Summary
- Reduces the percentage of fire insurance premium taxes paid to the Firemen's Association of the State of New York from 10 percent to 9 percent
- Creates a new allocation requiring 1 percent of fire insurance premium taxes to be paid to the New York State Professional Firefighters Association to promote and support paid professional firefighters in the state
- Updates pronouns in the insurance law from singular to plural when referring to the superintendent distributing these monies
- Effective immediately and applies to all monies received by the superintendent of financial services on or after April 1, 2024
- Maintains the existing distribution formula where remaining monies are allocated to protected localities based on the proportion of fire insurance business written in each area
Legislative Description
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.
Last Action
referred to insurance
1/3/2024
Committee Referrals
Insurance5/11/2023
Full Bill Text
No bill text available