Extends provisions of the public health law related to the redeployment of excess reserves of certain not-for-profit managed care organizations until 2025.
STATE OF NEW YORK
________________________________________________________________________
7477
2023-2024 Regular Sessions
IN SENATE
May 30, 2023
___________
Introduced by Sen. RIVERA -- read twice and ordered printed, and when
printed to be committed to the Committee on Health
AN ACT to amend part FFF of chapter 59 of the laws of 2018, amending the
public health law relating to authorizing the commissioner of health
to redeploy excess reserves of certain not-for-profit managed care
organizations, in relation to the effectiveness thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2 of subpart B of part FFF of chapter 59 of the
2 laws of 2018, amending the public health law relating to authorizing the
3 commissioner of health to redeploy excess reserves of certain not-for-
4 profit managed care organizations, is amended to read as follows:
5 § 2. This act shall take effect August 1, 2018 and shall expire and be
6 deemed repealed August 1, [2023] 2025, but, shall not apply to any enti-
7 ty or any subsidiary or affiliate of such entity that disposes of all or
8 a material portion of its assets pursuant to a transaction that: (1) was
9 the subject of a request for regulatory approval first made to the
10 commissioner of health between January 1, 2017, and December 31, 2017;
11 and (2) receives regulatory approval from the commissioner of health
12 prior to July 31, 2018.
13 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11461-01-3
