NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A8314
SPONSOR: Mayer TITLE OF BILL: An act to amend chapter 308 of the laws of 1912 relat-
ing to providing for the distribution of the percentage or tax on
receipts of foreign fire insurance companies doing business in the city
of Yonkers, in relation to the usage of moneys received from foreign
fire insurance companies
PURPOSE OR GENERAL IDEA OF BILL:
This bill will amend chapter 308 of the Laws of 1912 to follow
Sections 9104 and 9105 of the Insurance Law.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 amends Section 1 of chapter 308 of the laws of 1912 by delet-
ing the requirement that the trustees of the mutual aid society of the
paid fire department of the city of Yonkers transfer ten percent of the
amount received to the Firemen Association of the State of New York. It
requires that the funds be distributed in accordance with sections 9104
and 9105 of the NYS Insurance Law.
Section 2 establishes the effective date.
JUSTIFICATION:
Under current law, the trustees of the mutual aid society of the paid
fire department of the city of Yonkers transfer ten percent of the
amount received to the Firemen Association of the State of New York.
This bill updates this provision to make it consistent with Sections
1904 and 1905 of the Insurance Law.
PRIOR LEGISLATIVE HISTORY:
New Bill.
FISCAL IMPLICATIONS:
None.
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
8314
2017-2018 Regular Sessions
IN ASSEMBLY
June 7, 2017
___________
Introduced by M. of A. MAYER -- read once and referred to the Committee
on Insurance
AN ACT to amend chapter 308 of the laws of 1912 relating to providing
for the distribution of the percentage or tax on receipts of foreign
fire insurance companies doing business in the city of Yonkers, in
relation to the usage of moneys received from foreign fire insurance
companies
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 1 of chapter 308 of the laws of 1912 relating to
2 providing for the distribution of the percentage or tax on receipts of
3 foreign fire insurance companies doing business in the city of Yonkers,
4 as amended by chapter 920 of the laws of 1962, is amended to read as
5 follows:
6 § 1. The corporation known as the Mutual Aid Association of the Paid
7 Fire Department of the city of Yonkers, New York, shall be entitled to
8 collect and there shall be paid to it the percentage or tax on receipts
9 of the foreign fire insurance companies doing business in the city of
10 Yonkers, under the provisions of [sections five hundred fifty-three and
11 fifty-four of] the insurance law[. The trustees of the Mutual Aid Asso-
12 ciation of the Paid Fire Department of the city of Yonkers, New York,
13 shall within ten days after the receipt of the same, pay to the treasur-
14 er of the Firemen's Association of the state of New York ten per centum
15 of the amount so received by it for the support or maintenance of the
16 Volunteer Firemen's Home at Hudson, and shall pay the balance to the
17 treasurer or chief fiscal officer of the Mutual Aid Association of the
18 Paid Fire Department of the city of Yonkers, New York,] to be used [for
19 the care of indigent and disabled firemen and their families] in accord-
20 ance with sections nine thousand one hundred four and nine thousand one
21 hundred five of the insurance law.
22 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11596-02-7
