What's happening
This bill expands owner controlled insurance programs to include bridge, tunnel, or omnibus facilities in New York.
Why it matters
Expanding owner controlled insurance programs (OCIPs) to bridge, tunnel, and omnibus facilities could help manage insurance costs and risks on large, complex infrastructure projects. , potentially saving taxpayer money and making these projects more financially feasible.
Including these types of facilities under OCIPs may lead to more standardized safety and insurance practices across major transit and infrastructure construction. , possibly improving overall project safety and efficiency.
This change could make it easier and more attractive for public authorities and the City of New York to undertake or expand critical transportation projects. , as insurance hurdles and expenses could be more predictable and manageable under a single, unified program.
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Who cares
Headline styles
Extend Insurance for Public Projects
Plain English, a few words. Used as the page title.
Sponsors
3 Co-sponsors
2 Multi-sponsors
History
- Referred to insurance
- Referred to insurance
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.
Extend Insurance for Public Projects
In Senate Committee · Insurance · Sponsor Martin Malavé Dilan
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4365
2017-2018 Regular Sessions
IN ASSEMBLY
February 2, 2017
Introduced by M. of A. CYMBROWITZ, MORELLE, COOK, PERRY -- Multi-Sponsored by -- M. of A. JAFFEE, RIVERA -- read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to extending owner controlled insurance programs in certain instances
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subparagraph (B) of paragraph 2 of subsection (a) of section 2504 of the insurance law is amended to read as follows:
(B) the city of New York, a public corporation or a public authority, in connection with the construction of electrical generating and transmission facilities or construction, extensions and additions of light rail or heavy rail rapid transit and commuter railroads, or bridge, tunnel or omnibus facilities.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06959-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.