S08350 Summary:
| BILL NO | S08350 |
| SAME AS | SAME AS A08041 |
| SPONSOR | ADDABBO |
| COSPNSR | |
| MLTSPNSR | |
| Directs the department of financial services, in consultation with the department of transportation to conduct a study and prepare a report on the fair market value of labor rates for services covered under motor vehicle insurance policies. | |
S08350 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 8350 2025-2026 Regular Sessions IN SENATE June 4, 2025 ___________ Introduced by Sen. ADDABBO -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT directing the department of financial services to conduct a study on the fair market value of labor rates for services covered under motor vehicle insurance policies The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The department of financial services, in consultation with 2 the department of transportation shall conduct a study and prepare a 3 report on the fair market value of labor rates for services covered 4 under motor vehicle insurance policies. 5 § 2. Within one year of the effective date of this act, the department 6 of financial services, in consultation with the department of transpor- 7 tation shall issue a report of the findings of the study along with 8 recommendations for any appropriate regulatory or legislative actions to 9 the governor, the temporary president of the senate and the speaker of 10 the assembly. 11 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11619-01-5