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Who cares
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Sponsors
Senator · Senate District 4
No co-sponsors yet.
History
- Referred to finance
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to create a temporary state commission to study and investigate the legality of the 2006 merger of the Health Insurance Plan of Greater New York and Group Health Incorporated; making an appropriation therefor; and providing for the repeal of such provisions upon expiration thereof
Purpose
Creates a temporary state commission to study and investigate the legality of the 2006 merger of the Health Insurance Plan of Greater New York and Group Health Incorporated.
Summary of provisions
Section 1. Creates a temporary state commission to study the 2006 merger of the Health Insurance Plan of Greater New York (HIP) and Group Health Incorporated (GHI) and analyze the legality of the transaction.
Section 2. Establishes that the commission shall consist of fifteen members who are knowledgeable on mergers, acquisitions, insurance, or related matters.
Section 3. Establishes that the members of the commission shall receive no compensation but may be reimbursed for actual and necessary expenses.
Section 4. Allows the commission to employ personnel it deems necessary for the performance of its functions.
Section 5. Empowers the commission to undertake any studies, inquiries, surveys, or analyses it deems relevant.
Section 6. Empowers the commission to receive from the State any facilities, assistance, and data it deems necessary to the proper execution of its duties.
Section 7. Calls upon the commission to report its findings and recommendations to the Governor and Legislature.
Section 8. Allocates $250,000 for the purpose of carrying out the provisions of this act. Section 9. Effective Date and Expiration Date.
Justification
The 2006 merger of the Health Insurance Plan of Greater New York and Group Health Incorporated has raised many questions about the legality of the transaction. This bill would create a temporary state commission to investigate the legality of these transactions and report its findings to the Legislature and the Governor.
Legislative history
New Bill.
Fiscal implications
Approximately $250,000.
Local fiscal implications
EFFECTIVE DATE : This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.