Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 05, 2022 |
referred to insurance |
Feb 03, 2021 |
referred to insurance |
Senate Bill S4333
2021-2022 Legislative Session
Sponsored By
(D, IP) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2021-S4333 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5396
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Add Art 76-A §§7650 - 7650-a, §3114, amd §5402, Ins L; add §99-ii, St Fin L
2021-S4333 (ACTIVE) - Summary
Establishes the temporary hospitality and business relief fund; creates a credit for certain hospitality businesses affected by the COVID-19 pandemic; provides insurance coverage for loss or damage incurred by business interruption resulting from an official order to close.
2021-S4333 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4333 SPONSOR: SAVINO TITLE OF BILL: An act to amend the insurance law and the state finance law, in relation to establishing the temporary hospitality and business relief fund; and to amend the insurance law, in relation to creating a credit for certain hospitality businesses affected by the COVID-19 pandemic; and providing for the repeal of certain provisions upon expiration thereof PURPOSE: To provide authority and funding to the superintendent of financial services to enact regulations, oversight and payment through a temporary business relief fund during the COVID-19 shutdown SUMMARY OF PROVISIONS: This act shall add a new Article 76-A and sections 7650 and 7650-a to the insurance law and add new section 99-ii to the finance law;
2021-S4333 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4333 2021-2022 Regular Sessions I N S E N A T E February 3, 2021 ___________ Introduced by Sen. SAVINO -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law and the state finance law, in relation to establishing the temporary hospitality and business relief fund; and to amend the insurance law, in relation to creating a credit for certain hospitality businesses affected by the COVID-19 pandemic; and providing for the repeal of certain provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The insurance law is amended by adding a new article 76-A to read as follows: ARTICLE 76-A TEMPORARY HOSPITALITY AND BUSINESS RELIEF FUND SECTION 7650. TEMPORARY HOSPITALITY AND BUSINESS RELIEF FUND. 7650-A. HOSPITALITY AND BUSINESS ADVISORY COUNCIL. § 7650. TEMPORARY HOSPITALITY AND BUSINESS RELIEF FUND. (A) FOR THE DURATION OF THE STATE DISASTER EMERGENCY DECLARED PURSUANT TO EXECUTIVE ORDER TWO HUNDRED TWO OF TWO THOUSAND TWENTY, TO SECURE OUR STATE FROM THE SPREAD OF COVID-19, THERE IS HEREBY ESTABLISHED A TEMPORARY HOSPI- TALITY AND BUSINESS RELIEF FUND TO PROVIDE FOR ACCESS TO RESOURCES AND GRANTS TO THOSE ENTITIES PARTICIPATING IN BROAD FORM COVERAGE ISSUED PURSUANT TO SUBSECTION (G) OF SECTION FIVE THOUSAND FOUR HUNDRED TWO OF THIS CHAPTER, THAT HAVE BEEN AFFECTED BY BUSINESS INTERRUPTION RESULTING IN LOSS OR DAMAGE INCURRED BY AN OFFICIAL ORDER TO CLOSE PURSUANT TO EXECUTIVE ORDER TWO HUNDRED TWO OF TWO THOUSAND TWENTY. (B) THE DEPARTMENT OF FINANCIAL SERVICES SHALL ESTABLISH THE TEMPORARY FUND OF UP TO ONE HUNDRED MILLION DOLLARS APPROPRIATED THROUGH A SURCHARGE ON ALL GENERAL CERTIFICATE OF LIABILITY INSURANCE POLICIES UNDERWRITTEN WITHIN THE STATE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08872-01-1
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