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A08525 Summary:

BILL NOA08525B
 
SAME ASSAME AS S07888-B
 
SPONSORGiglio
 
COSPNSR
 
MLTSPNSR
 
Amd §7, Chap 521 of 2001
 
Relates to the use of foreign fire insurance premium taxes by the Ridge volunteer exempt firefighter's benevolent association.
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A08525 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8525--B
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 20, 2025
                                       ___________
 
        Introduced by M. of A. GIGLIO -- read once and referred to the Committee
          on  Local  Governments  -- committee discharged, bill amended, ordered
          reprinted as amended and recommitted to said committee -- ordered to a
          third reading -- committed to the  Committee  on  Ways  and  Means  in
          accordance  with  Rule 3, sec. 2 -- reference changed to the Committee
          on Local Governments -- committee discharged,  bill  amended,  ordered
          reprinted as amended and recommitted to said committee
 
        AN  ACT  to amend chapter 521 of the laws of 2001 establishing the Ridge
          volunteer exempt firefighter's benevolent association,  and  providing
          for  its  powers  and  duties,  in relation to the use of foreign fire
          insurance premium taxes
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section 7 of chapter 521 of the laws of 2001 establishing
     2  the Ridge volunteer exempt  firefighter's  benevolent  association,  and
     3  providing  for  its  powers and duties, as amended by chapter 525 of the
     4  laws of 2001, is amended to read as follows:
     5    § 7. Precept for payment of foreign fire insurance premium taxes.  The
     6  Ridge   volunteer  exempt  firefighter's  benevolent  association  shall
     7  collect and there shall be paid to it  all  taxes  imposed  pursuant  to
     8  section  9104  of the insurance law for fire department use and benefit,
     9  upon premiums for insurance against loss  or  damage  by  fire  covering
    10  property  situated in the Ridge fire district in the town of Brookhaven,
    11  county of Suffolk, or within any duly organized territory in  which  the
    12  Ridge  fire  district  is or may be obligated to render fire protection.
    13  The officer of such corporation designated by its by-laws to collect and
    14  receive the aforesaid tax shall have all the powers and  be  subject  to
    15  all  the provisions of the insurance law, relating to treasurers of fire
    16  departments. Such corporation shall also be entitled to receive a  share
    17  of  the tax imposed by section 9105 of the insurance law, based upon the
    18  business written in the territory with respect to which it  is  entitled
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11981-04-6

        A. 8525--B                          2
 
     1  to  collect and receive the tax under section 9104 of the insurance law.
     2  Such taxes shall only be used [for the care and relief  of  disabled  or
     3  indigent  volunteer  and  exempt firefighters and their families] by the
     4  corporation in furtherance of its purposes as set forth in section three
     5  of this act.
     6    §  2.  This act shall take effect immediately; provided, however, that
     7  the amendments to section 7 of chapter 521 of the laws of 2001  made  by
     8  section one of this act shall apply to taxes due on premiums received on
     9  and after January 1, 2027.
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