 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8420
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 15, 2025
                                       ___________
 
        Introduced  by  M. of A. RAMOS -- (at request of the Department of Agri-
          culture and Markets) -- read once and referred  to  the  Committee  on
          Agriculture
 
        AN  ACT  to  amend  the  agriculture and markets law, in relation to the
          suspension of collection of the produce security fund

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1. Paragraph (f) of subdivision 1 of section 250 of the agri-
     2  culture and markets law, as amended by chapter 288 of the laws of  1999,
     3  is amended to read as follows:
     4    (f) (i) At any time the fund exceeds [four] six million dollars on the
     5  one  hundred twentieth day prior to the commencement of the next license
     6  year, the commissioner shall suspend collection  of  the  security  fund
     7  fee,  unless  [he  or  she] such commissioner has reason to believe that
     8  pending claims may reduce the fund below that amount.
     9    (ii) In the event that the fund exceeds six million dollars on the one
    10  hundred twentieth day prior to the commencement of the  next  year,  but
    11  when  adjusted  for  the  rate  of inflation, the security fund does not
    12  provide the same level of protection to the producers as provided for by
    13  subparagraph (i) of this paragraph, the commissioner shall continue  the
    14  collection of security fund fees for such year.
    15    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09943-01-5
Relates to the produce security fund

What's Happening

Why It Matters
