NY A05743

Imposes a 9.63% tax on dividends, transfers, distributions, or loans made by New York-domiciled accident and health insurance companies and health maintenance organizations to out-of-state entities within their holding company system

Applies only to funds derived from subscriber prepayments or premiums received for commercial insurance programs, excluding government programs like Medicaid, Medicare, and health exchange plans

Exempts payments for services performed, including those under reinsurance treaties or regular service agreements, from the tax

Requires domestic insurers to report all taxable transfers and payments to the superintendent in a prescribed manner, with taxes due by March 1st each year

Deposits all collected taxes into the New York State Agency Trust Fund, Distressed Provider Assistance Account, with an effective date of April 1, 2025