Bill Text: NY A04221 | 2011-2012 | General Assembly | Introduced
Bill Title: Relates to assessments to defray operating expenses of the department; removes indirect costs from the assessments.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2012-01-04 - referred to insurance [A04221 Detail]
Download: New_York-2011-A04221-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
4221
2011-2012 Regular Sessions
I N A S S E M B L Y
February 2, 2011
___________
Introduced by M. of A. BARCLAY -- read once and referred to the Commit-
tee on Insurance
AN ACT to amend the insurance law, in relation to assessments to defray
operating expenses of the department
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subsection (a) of section 332 of the insurance law, as
2 amended by chapter 61 of the laws of 1989, is amended to read as
3 follows:
4 (a) The expenses of the department, excluding the expenses of the
5 supervision of employee welfare funds, for any fiscal year, including
6 all direct [and indirect] costs, as approved by the director of the
7 budget and audited by the comptroller, except as otherwise provided by
8 sections one hundred fifty-one and two hundred twenty-eight of the work-
9 ers' compensation law and by section sixty of the volunteer firefight-
10 ers' benefit law, shall be assessed by the superintendent pro rata upon
11 all domestic insurers and all licensed United States branches of alien
12 insurers domiciled in this state within the meaning of paragraph four of
13 subsection (b) of section seven thousand four hundred eight of this
14 chapter, in proportion to the gross direct premiums and other consider-
15 ations, written or received by them in this state during the calendar
16 year ending December thirty-first immediately preceding the end of the
17 fiscal year for which the assessment is made (less return premiums and
18 considerations thereon) for policies or contracts of insurance covering
19 property or risks resident or located in this state the issuance of
20 which policies or contracts requires a license from the superintendent;
21 and the superintendent shall levy and collect such assessments and pay
22 the same into the state treasury, subject to the provisions of section
23 one hundred twenty-one of the state finance law and subsection (b)
24 [hereof] OF THIS SECTION.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08695-01-1
A. 4221 2
1 S 2. This act shall take effect on the first of January next succeed-
2 ing the date on which it shall have become a law.
