New York S 7265: Relates to the establishment of notice requirements for credit card fees or surcharges; repealer

Bill Text

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S07265 Summary:

BILL NOS07265 

&nbsp

SAME ASSAME AS A05874

&nbsp

SPONSORBAILEY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add Art 6 §§601 - 603, Ins L; add §99-ss, St Fin L

&nbsp

Establishes the strengthen homes program to promote the strengthening of homes in order to protect against severe weather through remodeling grants and insurance discounts.

Go to top S07265 Actions:

BILL NOS07265 

&nbsp

04/07/2025REFERRED TO INSURANCE

01/07/2026REFERRED TO INSURANCE

04/20/2026REPORTED AND COMMITTED TO FINANCE

Go to topS07265 Committee&nbspVotes:

Go to topS07265 Floor&nbspVotes:

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

Go to topS07265 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7265

 2025-2026 Regular Sessions

 IN SENATE

 April 7, 2025
 ___________

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

 AN ACT to amend the insurance law and the state finance law, in relation
 to establishing the strengthen homes program

 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 article 6 to
 2 read as follows:
 3 ARTICLE 6
 4 STRENGTHEN HOMES PROGRAM
 5 Section 601. Purpose.
 6 602. Strengthen homes program.
 7 603. Premium discount or insurance rate reduction.
 8 § 601. Purpose. The purpose of this article is to promote the
 9 strengthening of homes in order to protect against severe weather.
 10 § 602. Strengthen homes program. (a) The strengthen homes program is
 11 hereby created within the department. The superintendent, as program
 12 administrator, may make financial grants to retrofit roofs of insurable
 13 property, as defined in paragraph six of subsection (b) of section six
 14 hundred three of this article, with a homestead exemption to resist loss
 15 due to hurricane, tornado, or other catastrophic windstorm events and to
 16 meet or exceed the fortified roof standard of the insurance institute
 17 for business and home safety.
 18 (b) The superintendent shall promulgate rules governing eligibility
 19 requirements for grants and the administration of the program, which
 20 shall include application forms and procedures for seeking a grant. The
 21 rules shall set forth that applications will be accepted on a first-
 22 come, first-served basis within each income tier established by the
 23 superintendent, with priority given to lower-income applicants, appli-
 24 cants who live in locations that, based on historical data, have a high-
 25 er susceptibility to catastrophic weather events, and applicants meeting

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09026-01-5

 S. 7265 2

 1 any other criteria the superintendent determines is appropriate to meet
 2 the purpose of the program.
 3 (c) In order to receive a grant pursuant to this section, the grantee
 4 shall do all of the following:
 5 (1) Obtain all permits required by law or ordinance for construction.
 6 (2) Arrange and pay for inspections required by law or ordinance and
 7 the terms of the grant, which shall include inspection pursuant to para-
 8 graph two of subsection (b) of section six hundred three of this arti-
 9 cle.
 10 (3) Comply with applicable building codes.
 11 (4) Maintain records as required by paragraph three of subsection (b)
 12 of section six hundred three of this article and the terms of the grant.
 13 (d) The name of a recipient of a grant received pursuant to this
 14 section, the amount of the grant, and the municipal address of the
 15 retrofitted insurable property shall be a public record.
 16 (e) The superintendent shall use their best efforts to obtain grants
 17 or funds from the federal government or other funding sources for depos-
 18 it into the strengthen homes program fund, established pursuant to
 19 section ninety-nine-ss of the state finance law, to supplement any
 20 appropriations to such fund made by the legislature.
 21 (f) Implementation of the program is subject to the receipt of federal
 22 grants or funds or from other sources of grants or funds.
 23 (g) To be eligible to work as a contractor on a project fu