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NY A07866
Bill
Status
Introduced
4/11/2025
Primary Sponsor
Alfred Taylor
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AI Summary
- Requires insurers with at least $1 million in annual revenue to report to the superintendent whether they or any member of their holding company system issued insurance policies to slaveholders during the slavery era covering damage to or death of enslaved persons
- Mandates insurers file compliance plans within 120 days of the law's effective date, with annual reports due within 30 days after each calendar year, certified under oath as true and accurate
- Authorizes barring insurers from selling insurance in New York for up to 10 years for knowingly filing false or misleading certifications
- Requires the Commissioner of General Services to develop and publish a list of persons who engaged in slavery era financing, updated every 180 days
- Prohibits state agencies from contracting with companies identified on the slavery era financing list and requires bidders on state contracts to certify they have searched their records and are not on the list
Legislative Description
Enacts the "New York slavery era business and state procurement disclosure act"; requires insurers to report insurance policies issued to slaveholders during the slavery era that provided coverage for damage to or death to such slaveholders' slaves; requires contractors seeking to enter into or renew procurement contracts with state agencies to report slavery era financing, investments and profits of slavery.
Last Action
referred to insurance
1/7/2026
Committee Referrals
Insurance4/11/2025
Full Bill Text
No bill text available