A8494 • 2025

Relates to the time period for submitting reports regarding the valuation manual and makes provisions relating to such valuation manual permanent

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: David Weprin
Last action: 2026-05-20
Official status: In Assembly Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Relates to the time period for submitting reports regarding the valuation manual and makes provisions relating to such valuation manual permanent

Relates to the time period for submitting reports regarding the valuation manual and makes provisions relating to such valuation manual permanent Relates to the time period for submitting reports regarding the valuation manual; makes provisions relating to such valuation manual permanent.

What This Bill Does

Relates to the time period for submitting reports regarding the valuation manual and makes provisions relating to such valuation manual permanent Relates to the time period for submitting reports regarding the valuation manual; makes provisions relating to such valuation manual permanent.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-05-20 Assembly
REPORTED REFERRED TO RULES
2026-01-07 Assembly
REFERRED TO INSURANCE
2025-05-20 Assembly
REFERRED TO INSURANCE

Official Summary Text

Relates to the time period for submitting reports regarding the valuation manual and makes provisions relating to such valuation manual permanent
Relates to the time period for submitting reports regarding the valuation manual; makes provisions relating to such valuation manual permanent.

Current Bill Text

Read the full stored bill text

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          8494

                               2025-2026 Regular Sessions

                                  I N  A S S E M B L Y

                                      May 20, 2025
                                       ___________

        Introduced by M. of A. WEPRIN -- read once and referred to the Committee
          on Insurance

        AN  ACT  to amend chapter 394 of the laws of 2018 amending the insurance
          law relating to the implementation of a valuation manual and  relating
          to  directing the department of financial services to study the impact
          of the implementation of such valuation manual,  in  relation  to  the
          time  period  for submitting reports and making such provisions perma-
          nent

          THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section  1. Subdivision 3 of section 2 and section 3 of chapter 394 of
     2  the laws of 2018 amending the insurance law relating to the  implementa-
     3  tion  of  a valuation manual and relating to directing the department of
     4  financial services to study the impact of  the  implementation  of  such
     5  valuation manual, are amended to read as follows:
     6    3.  The  superintendent  of the department of financial services shall
     7  submit a report to the governor, temporary president of the  senate  and
     8  speaker  of  the  assembly of the department's findings in the second[,]
     9  AND fifth [and seventh] years after the operative date of the  valuation
    10  manual.
    11    §  3.  This  act  shall  take effect immediately[; and shall be deemed
    12  repealed 10 years after it shall have become a law].
    13    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11913-01-5