NY A08494

Reduces the number of required reports from the Department of Financial Services on the valuation manual implementation from three (second, fifth, and seventh years) to two (second and fifth years after the operative date)

Removes the automatic repeal provision that would have terminated the valuation manual law 10 years after it became effective, making these insurance provisions permanent

Amends Chapter 394 of the Laws of 2018, which originally established requirements for studying the impact of the valuation manual on insurance law implementation

Takes effect immediately upon enactment