STATE OF NEW YORK ________________________________________________________________________ 6269 2023-2024 Regular Sessions IN SENATE April 10, 2023 ___________ Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance 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 Association of the State 12 of New York for the support and maintenance of the firemen's home at 13 Hudson, New York, and one percent of such remaining monies received 14 under this section shall be paid to the treasurer of the New York State 15 Professional Firefighters Association to promote, support and maintain 16 the well-being of paid professional firefighters employed in the state 17 of New York, and the balance shall be paid as specified in paragraph two 18 [hereof] of this subsection, in amounts which will be that proportion of 19 the balance so to be distributed which the total amount of fire insur- 20 ance business written by foreign mutual fire insurance companies on 21 property situated in such locality bears to the total amount of fire 22 insurance business written by foreign mutual fire insurance companies on 23 property situated in any and all of the protected localities in the 24 state having treasurers or other fiscal officers as designated in para- 25 graph two [hereof] of this subsection afforded fire protection by a fire EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10739-02-3
S. 6269 2 1 department or fire company and upon which the tax provided in this 2 section has been paid. 3 § 2. This act shall take effect immediately and shall apply to all 4 monies received by the superintendent of financial services pursuant to 5 section 9105 of the insurance law commencing with those monies received 6 on or after April 1, 2024.