New York S 6716: Relates to unfinished frames and receivers

Bill Text

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S06716 Summary:

BILL NOS06716 

&nbsp

SAME ASSAME AS A03786

&nbsp

SPONSORJACKSON

&nbsp

COSPNSRASHBY, BASKIN, GOUNARDES, MAY, SCARCELLA-SPANTON, WEBB

&nbsp

MLTSPNSR

&nbsp

Amd §9105, Ins L

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Relates to the distribution of fire insurance premium taxes; provides that a percentage of fire insurance premium taxes be paid to the treasurer of the NYS Professional Firefighters Association to promote, support and maintain the well-being of paid professional firefighters employed in the state.

Go to top S06716 Actions:

BILL NOS06716 

&nbsp

03/20/2025REFERRED TO INSURANCE

01/07/2026REFERRED TO INSURANCE

Go to topS06716 Committee&nbspVotes:

Go to topS06716 Floor&nbspVotes:

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

Go to topS06716 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6716

 2025-2026 Regular Sessions

 IN SENATE

 March 20, 2025
 ___________

 Introduced by Sens. JACKSON, GOUNARDES, MAY -- read twice and ordered
 printed, and when printed to be committed to the Committee on Insur-
 ance

 AN ACT to amend the insurance law, in relation to the distribution of
 fire insurance premium taxes

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

 1 Section 1. Paragraph 1 of subsection (d) of section 9105 of the insur-
 2 ance law, as amended by chapter 293 of the laws of 1988, is amended to
 3 read as follows:
 4 (1) The amount of all monies which were received by the superintendent
 5 on or before the first day of April in each year under the provisions of
 6 this section or section nine thousand one hundred four of this article
 7 shall be distributed by [him] them not later than the first day of July
 8 in such year, after adding any earnings resulting from the investment of
 9 such monies and deducting the expenses of collection and distribution.
 10 [Ten] Nine percent of such remaining monies received under this section
 11 shall be paid to the treasurer of the [Firemen's] Firefighters Associ-
 12 ation of the State of New York for the support and maintenance of the
 13 [firemen's] firefighter's home at Hudson, New York, and one percent of
 14 such remaining monies received under this section shall be paid to the
 15 treasurer of the New York State Professional Firefighters Association to
 16 promote, support and maintain the well-being of paid professional fire-
 17 fighters employed in the state of New York, and the balance shall be
 18 paid as specified in paragraph two [hereof] of this subsection, in
 19 amounts which will be that proportion of the balance so to be distrib-
 20 uted which the total amount of fire insurance business written by
 21 foreign mutual fire insurance companies on property situated in such
 22 locality bears to the total amount of fire insurance business written by
 23 foreign mutual fire insurance companies on property situated in any and
 24 all of the protected localities in the state having treasurers or other

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07427-01-5

 S. 6716 2

 1 fiscal officers as designated in paragraph two [hereof] of this
 2 subsection afforded fire protection by a fire department or fire company
 3 and upon which the tax provided in this section has been paid.
 4 § 2. This act shall take effect immediately and shall apply to all
 5 monies received by the superintendent of financial services pursuant to
 6 section 9105 of the insurance law commencing with those monies received
 7 on or after April 1, 2026.

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