NY A06977

Increases the fire insurance premium tax rate on foreign and alien fire insurance corporations from $1.80 to $2.80 per $100 of premiums collected

Applies to premiums received for fire insurance on property located within cities, villages, fire districts, fire alarm districts, or fire protection districts throughout New York State

Excludes the cities of New York and Buffalo from this tax provision

Exempts foreign mutual fire insurance companies from the tax requirement

Takes effect on January 1 following enactment