New York S 771: Increases the number of properties eligible for the coastal market assistance program

Bill Text

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 Speaker Carl E. Heastie

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S00771 Summary:

BILL NOS00771 

&nbsp

SAME ASSAME AS A00425

&nbsp

SPONSORMAYER

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §5414, Ins L (as proposed in S.8320-A & A.9821)

&nbsp

Increases the number of properties eligible for the coastal market assistance program to include properties located within one mile off the shore of the Hudson River.

Go to top S00771 Actions:

BILL NOS00771 

&nbsp

01/08/2025REFERRED TO RULES

01/13/2025ORDERED TO THIRD READING CAL.45

02/05/2025SUBSTITUTED BY A425

&nbspA00425 AMEND= Otis

&nbsp01/08/2025referred to insurance

&nbsp01/28/2025reported referred to rules

&nbsp01/28/2025reported 

&nbsp01/28/2025rules report cal.66

&nbsp01/28/2025ordered to third reading rules cal.66

&nbsp02/03/2025passed assembly

&nbsp02/03/2025delivered to senate

&nbsp02/03/2025REFERRED TO RULES

&nbsp02/05/2025SUBSTITUTED FOR S771

&nbsp02/05/20253RD READING CAL.45

&nbsp02/05/2025PASSED SENATE

&nbsp02/05/2025RETURNED TO ASSEMBLY

&nbsp02/12/2025delivered to governor

&nbsp02/14/2025signed chap.11

Go to topS00771 Committee&nbspVotes:

Go to topS00771 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS00771 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 771

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sen. MAYER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Rules

 AN ACT to amend the insurance law, in relation to increasing the number
 of properties eligible for the coastal market assistance program

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subsection (c) of section 5414 of the insurance law, as
 2 amended by a chapter of the laws of 2024 amending the insurance law
 3 relating to increasing the number of properties eligible for the coastal
 4 market assistance program, as proposed in legislative bills numbers S.
 5 8320-A and A. 9821, is amended to read as follows:
 6 (c) The association shall administer the coastal market assistance
 7 program. The association may, subject to approval of the superintendent,
 8 adopt reasonable eligibility standards for participation in the coastal
 9 market assistance program. At a minimum, properties eligible for the
 10 program shall be located within one mile of the shore. For purposes of
 11 this section, shore shall mean salt-water ocean, sound, bay, inlet, Lake
 12 Erie, Lake Ontario, the Saint Lawrence River, the Hudson River, or the
 13 Niagara River with distance measured from mean high water. The associ-
 14 ation may adopt additional or more expansive eligibility standards for
 15 participation in the coastal market assistance program.
 16 § 2. This act shall take effect on the same date and in the same
 17 manner as a chapter of the laws of 2024 amending the insurance law
 18 relating to increasing the number of properties eligible for the coastal
 19 market assistance program, as proposed in legislative bills numbers S.
 20 8320-A and A. 9821, takes effect.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02912-01-5

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