Senate Bill S8320

2023-2024 Legislative Session

Increases the number of properties eligible for the coastal market assistance program

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate & Assembly


  • 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

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Bill Amendments

2023-S8320 - Details

Law Section:
Insurance Law
Laws Affected:
Amd §5414, Ins L

2023-S8320 - Summary

Increases the number of properties eligible for the coastal market assistance program by providing eligibility to properties within one mile of the shore.

2023-S8320 - Sponsor Memo

2023-S8320 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8320
 
                             I N  S E N A T E
 
                             January 17, 2024
                                ___________
 
 Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to increasing the  number
   of properties eligible for the coastal market assistance program
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subsection (c) of section 5414 of  the  insurance  law,  as
 added by chapter 136 of the laws of 2008, is amended to read as follows:
   (c)  The  association  shall  administer the coastal market assistance
 program. The association may, subject to approval of the superintendent,
 adopt reasonable eligibility standards for participation in the  coastal
 market  assistance  program.  AT  A MINIMUM, PROPERTIES ELIGIBLE FOR THE
 PROGRAM SHALL BE LOCATED WITHIN ONE MILE OF THE SHORE. FOR  PURPOSES  OF
 THIS SECTION, SHORE SHALL MEAN SALT-WATER OCEAN, SOUND, BAY, INLET, LAKE
 ERIE,  LAKE  ONTARIO, THE SAINT LAWRENCE RIVER OR THE NIAGARA RIVER WITH
 DISTANCE MEASURED FROM THE NORMAL HIGH-TIDE MARK.  THE  ASSOCIATION  MAY
 ADOPT  ADDITIONAL  OR  MORE  EXPANSIVE ELIGIBILITY STANDARDS FOR PARTIC-
 IPATION IN THE COASTAL MARKET ASSISTANCE PROGRAM.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13698-02-4



              

co-Sponsors

2023-S8320A (ACTIVE) - Details

Law Section:
Insurance Law
Laws Affected:
Amd §5414, Ins L

2023-S8320A (ACTIVE) - Summary

Increases the number of properties eligible for the coastal market assistance program by providing eligibility to properties within one mile of the shore.

2023-S8320A (ACTIVE) - Sponsor Memo

2023-S8320A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8320--A
     Cal. No. 154
 
                             I N  S E N A T E
 
                             January 17, 2024
                                ___________
 
 Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
   printed to be committed to the  Committee  on  Insurance  --  reported
   favorably  from  said  committee,  ordered to first report, amended on
   first report, ordered  to  a  second  report  and  ordered  reprinted,
   retaining its place in the order of second report

 AN  ACT to amend the insurance law, in relation to increasing the number
   of properties eligible for the coastal market assistance program
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subsection  (c)  of section 5414 of the insurance law, as
 added by chapter 136 of the laws of 2008, is amended to read as follows:
   (c) The association shall administer  the  coastal  market  assistance
 program. The association may, subject to approval of the superintendent,
 adopt  reasonable eligibility standards for participation in the coastal
 market assistance program. AT A MINIMUM,  PROPERTIES  ELIGIBLE  FOR  THE
 PROGRAM  SHALL  BE LOCATED WITHIN ONE MILE OF THE SHORE. FOR PURPOSES OF
 THIS SECTION, SHORE SHALL MEAN SALT-WATER OCEAN, SOUND, BAY, INLET, LAKE
 ERIE, LAKE ONTARIO, THE SAINT LAWRENCE RIVER OR THE NIAGARA  RIVER  WITH
 DISTANCE  MEASURED FROM MEAN HIGH WATER. THE ASSOCIATION MAY ADOPT ADDI-
 TIONAL OR MORE EXPANSIVE ELIGIBILITY STANDARDS FOR PARTICIPATION IN  THE
 COASTAL MARKET ASSISTANCE PROGRAM.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13698-03-4



              

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