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Who cares
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Sponsors
No co-sponsors yet.
History
- Substituted by A2026
- Advanced to third reading
- 2nd report cal.
- 1st report cal.1226
- Referred to judiciary
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to waivers for families of victims of terrorist attacks
Signed by Governor · Sponsor Sean Ryan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S2152
Title of bill
An act to amend the general obligations law, in relation to waivers for families of victims of terrorist attacks
Purpose or general idea of bill
The purpose of this bill is to provide family members of victims of terrorist attacks against the U.S. with the opportunity to receive premium deductions with respect to structure settlement transfer agreements.
Summary of specific provisions
This bill would permit annuity insurers or their employees or representatives to waive commissions or other compensation otherwise due in connection with the sale of a policy or contract subject to the provisions of section four thousand two hundred twenty-four of the insurance law to immediate family members of victims of terrorist attacks against the United States. Currently, this waiver is available to immediate family members of victims of the September 11, 2001 terrorist attacks. This would expand this waiver to all other terrorist actions, past and future, against the United States.
Justification
The intent of this bill is to provide funds to families of victims of terrorist attacks against the United States. Many people after the September 11, 2001 terrorist attacks looked for ways that they could assist victims of the attacks and the victims' families. One such example involved agents who sold structured settlements to victims' families but were forbidden by law from waiving their commission and, thereby, increasing the amount of the structured settlement. Section 5-1708-a of the general obligations law allowed for these types of waivers to occur. This bill would expand this ability to all victims of terrorist attacks against the United States.
Prior legislative history
2013-14: A.2026 referred to judiciary
Fiscal implications for state and local governments
None to the State.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.