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Who cares
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Sponsors
4 Multi-sponsors
History
- Referred to governmental operations
- Referred to governmental operations
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A9046
Title of bill
An act to amend chapter 241 of the laws of 1930, defining the powers and jurisdiction of the New York board of fire underwriters, in relation to providing for minimum funding for the fire patrol and to confirming that assets, revenues and receipts of the fire patrol be used only for the fire patrol activities
Purpose or general idea of bill
This bill provides for minimum funding for the fire patrol and confirms that assets, revenues and receipts of the fire patrol be used only for fire patrol activities
Justification
It is the express intention of this Legislation that all pensions will be funded by assessments on the insurance carriers. To confirm that the Electricity Committee activities may be discontinued, but the Fire patrol activities shall continue, as per Section 12. To confirm that the assets, revenues and receipts of the Fire Patrol, including funding herein, shall be used only for Fire Patrol activities. To direct the Insurance Commissioner to study the economic benefits of the fire patrol, and to make a recommendation about extending the funding obligations to business interruption carriers. The fire patrol economic impact is business continuation, including the role of the Fire patrol services in furtherance of compliance with the mandatory Sarbanes-Oxley disaster recovery requirements for US industries. Therefore, it may be appropriate for the business interruption carriers to be assessed for the benefits of the Fire Patrol,
Prior legislative history
none
Fiscal implications
None
Effective date
This act shall take effect immediately; provided, however, that the assessments described in sections 14, 15 and 15-a of chapter 241 of the laws of 1930, relating to defining the powers and jurisdiction of the New York board of fire underwriters, as amended by section one of this act, shall be pro-rated on a calendar year basis, from such effective date, and shall be returned and collected forthwith, no later than sixty days from such effective date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.