NY A07305

Establishes the "STAMP Out Fraud Act" requiring the superintendent of insurance to prosecute or refer credible fraud reports to the attorney general within 60 days of investigation

Creates the "Insurable NY Fraud Task Force" composed of representatives from the Department of Financial Services, Attorney General's office, Medicaid Inspector General, Office of Temporary and Disability Assistance, and local district attorneys to coordinate fraud detection and prosecution

Increases insurance fraud penalties by one felony class: fifth degree fraud becomes a class E felony (from misdemeanor), first degree fraud becomes a class A felony (from class B), with intermediate degrees similarly upgraded

Adds enhanced penalties of up to 5 years additional imprisonment and minimum $50,000 fine for insurance fraud involving claims in active litigation

Requires quarterly reports to the governor and legislative leaders on fraud investigations, outcomes, and referrals, plus mandates a public education campaign called "Insurable NY" using television, radio, digital media, and schools