S 6716: Relates to the distribution of fire insurance premium taxes; provides that a percentage of fire insurance premium taxes be paid to the treasurer of the NYS Professional Firefighters Association to promote, support and maintain the well-being of paid professional firefighters employed in the state.

  
  STATE OF NEW YORK ________________________________________________________________________ 6716 2025-2026 Regular Sessions  IN SENATE March 20, 2025 ___________ Introduced by Sens. JACKSON, GOUNARDES, MAY -- read twice and ordered printed, and when printed to be committed to the Committee on Insur- ance AN ACT to amend the insurance law, in relation to the distribution of 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. Paragraph 1 of subsection (d) of section 9105 of the insur- 2 ance law, as amended by chapter 293 of the laws of 1988, is amended to 3 read as follows: 4 (1) The amount of all monies which were received by the superintendent 5 on or before the first day of April in each year under the provisions of 6 this section or section nine thousand one hundred four of this article 7 shall be distributed by [him] them not later than the first day of July 8 in such year, after adding any earnings resulting from the investment of 9 such monies and deducting the expenses of collection and distribution. 10 [Ten] Nine percent of such remaining monies received under this section 11 shall be paid to the treasurer of the [Firemen's] Firefighters Associ- 12 ation of the State of New York for the support and maintenance of the 13 [firemen's] firefighter's home at Hudson, New York, and one percent of 14 such remaining monies received under this section shall be paid to the 15 treasurer of the New York State Professional Firefighters Association to 16 promote, support and maintain the well-being of paid professional fire- 17 fighters employed in the state of New York, and the balance shall be 18 paid as specified in paragraph two [hereof] of this subsection, in 19 amounts which will be that proportion of the balance so to be distrib- 20 uted which the total amount of fire insurance business written by 21 foreign mutual fire insurance companies on property situated in such 22 locality bears to the total amount of fire insurance business written by 23 foreign mutual fire insurance companies on property situated in any and 24 all of the protected localities in the state having treasurers or other EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07427-01-5 
 S. 6716 2 1 fiscal officers as designated in paragraph two [hereof] of this 2 subsection afforded fire protection by a fire department or fire company 3 and upon which the tax provided in this section has been paid. 4 § 2. This act shall take effect immediately and shall apply to all 5 monies received by the superintendent of financial services pursuant to 6 section 9105 of the insurance law commencing with those monies received 7 on or after April 1, 2026.