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S2683Senate2011-2012 Session

Relates to motor vehicle liability insurance rates

Sponsor James L. SewardSD-51Affects Finance
Status
In Senate Committee
Insurance
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Insurance

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Who cares

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Sponsors

Primary sponsor
James L. Seward

Senator · Senate District 51

Chair, Insurance

No co-sponsors yet.

History

  1. Referred to insurance
  2. Committed to rules
  3. Amended on third reading 2683b
  4. Amended on third reading (t) 2683a
  5. Advanced to third reading
  6. 2nd report cal.
  7. 1st report cal.87
  8. Referred to insurance

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S2683B

Title of bill

An act to amend the insurance law, in relation to motor vehicle liability insurance rates

Purpose

To address technical issues which have arisen with regard to the implementation of chapter 277 of the laws of 201O.

Summary of provisions

This bill would remedy certain technical issues which have arisen in the implementation of chapter 277 of the laws of 2010, which took effect on November 27, 2010. Specifically, this bill clarifies that the $2,000 accident surcharge threshold is applicable to accidents occurring on or after June 1, 2011. The bill further clarifies that the higher threshold will also apply to policies issued, modified or renewed between November 27, 2010 and June 1, 2011. This bill would also restore the superintendent of insurance's authority to amend the surcharge threshold by regulation.

Justification

This bill is necessary to address certain unanticipated technical concerns which have arisen in connection with the implementation of chapter 277 of the laws of 2010. Specifically, this bill would ensure and codify the legislature's original intent that there is no retroactive application of the provisions of chapter 277 of the laws of 2010. This measure would also restore the superintendent of insurance's authority to amend the surcharge threshold by regulation.

Legislative history

Similar to S.8519 of 2010.

Fiscal implications

None.

Effective date

Immediately, with provisions.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.