New York S 3814: Imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations

Bill Text

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S03814 Summary:

BILL NOS03814A

&nbsp

SAME ASSAME AS A05743-A

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SPONSORRIVERA

&nbsp

COSPNSRCLEARE, FERNANDEZ, SCARCELLA-SPANTON, ZELLNER

&nbsp

MLTSPNSR

&nbsp

Add §9112, amd §§1109 & 9106, Ins L

&nbsp

Imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations to be deposited in the New York state agency trust fund, distressed provider assistance account.

Go to top S03814 Actions:

BILL NOS03814A

&nbsp

01/30/2025REFERRED TO INSURANCE

01/07/2026REFERRED TO INSURANCE

03/24/2026AMEND AND RECOMMIT TO INSURANCE

03/24/2026PRINT NUMBER 3814A

Go to topS03814 Committee&nbspVotes:

Go to topS03814 Floor&nbspVotes:

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

Go to topS03814 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3814--A

 2025-2026 Regular Sessions

 IN SENATE

 January 30, 2025
 ___________

 Introduced by Sens. RIVERA, FERNANDEZ, SCARCELLA-SPANTON, ZELLNER --
 read twice and ordered printed, and when printed to be committed to
 the Committee on Insurance -- recommitted to the Committee on Insur-
 ance in accordance with Senate Rule 6, sec. 8 -- committee discharged,
 bill amended, ordered reprinted as amended and recommitted to said
 committee

 AN ACT to amend the insurance law, in relation to imposing a tax on
 out-of-state transfers, dividends, payments, and loans by certain
 accident and health insurance companies and health maintenance organ-
 izations

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

 1 Section 1. The insurance law is amended by adding a new section 9112
 2 to read as follows:
 3 § 9112. Tax on out-of-state transfers, dividends, payments, and loans
 4 by accident and health insurance companies licensed under article
 5 forty-two of this chapter and health maintenance organizations. (a) As
 6 used in this section the following terms shall have the following mean-
 7 ings:
 8 (1) "Domestic insurer" means an insurer that is an accident and health
 9 insurance company licensed under article forty-two of this chapter or an
 10 organization complying with the provisions of article forty-four of the
 11 public health law.
 12 (2) "Commercial program" means any program of health insurance other
 13 than (i) programs for individuals covered by article five of the social
 14 services law, article twenty-five of the public health law, titles
 15 XVIII, XIX, and XXI of the federal social security act, or chapter 89 of
 16 title 5 of the United States code or (ii) programs of insurance avail-
 17 able on the health benefit exchange established by section two hundred
 18 sixty-eight of the public health law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08003-02-6

 S. 3814--A 2

 1 (b) Effective on and after April first, two thousand twenty-six, there
 2 shall be paid by every domestic insurer to the superintendent, on or
 3 before the first day of March, a tax equal to nine and sixty-three one
 4 hundredths percent of any dividends, ordinary, extraordinary, or other-
 5 wise, or other funds deriving from subscriber prepayments or premiums
 6 received for the domestic insurer's commercial programs that are paid,
 7 transferred, distributed, or loaned to an entity in such domestic insur-
 8 er's holding company system that is domiciled in any other state;
 9 provided, however, that payments for services performed, including
 10 pursuant to reinsurance treaties or agreements, or agreements for the
 11 rendering of services on a regular or systematic basis, shall not be
 12 subject to such tax. Such tax shall be in addition to any tax due under
 13 article thirty-three of the tax law and shall apply only to a payment,
 14 transfer, distribution, or loan made to an entity domiciled out-of-state
 15 within the domestic insurer's holding company system, and not also to
 16 subsequent dividends or distributions to shareholders or other persons
 17 or entities made after the initial payment, transfer, distribution, or
 18 loan that is taxed in accordance with this section.
 19 (c) Each domestic insurer shall report all payments, transfers,