S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2359
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                   January 22, 2015
                                      ___________
       Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
         printed to be committed to the Committee on Insurance
       AN ACT in relation to the creation of  the  title  insurance  assessment
         relief act
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Title  insurance  assessment  relief  act.  Notwithstanding
    2  section  206 of the financial services law, title insurance corporations
    3  licensed under paragraph 18 of subsection (a) of  section  1113  of  the
    4  insurance  law  and  domiciled  in  New  York state shall be assessed on
    5  direct premiums written less amounts paid to or retained by title agents
    6  in this state during the  calendar  year  ending  December  thirty-first
    7  immediately  preceding  the end of the fiscal year for which the assess-
    8  ment is made (less return premiums and considerations thereon) for poli-
    9  cies or contracts of insurance covering title in this state the issuance
   10  of which policies or contracts requires a license from  the  superinten-
   11  dent of financial services.
   12    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06400-01-5