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S8097 • 2025

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

Active

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

Sponsor
Jamaal Bailey
Last action
2026-05-29
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

  1. 2026-05-29 Senate

    PASSED SENATE

  2. 2026-05-29 Senate

    DELIVERED TO ASSEMBLY

  3. 2026-05-29 Assembly

    REFERRED TO INSURANCE

  4. 2026-03-11 Senate

    ADVANCED TO THIRD READING

  5. 2026-03-10 Senate

    2ND REPORT CAL.

  6. 2026-03-09 Senate

    1ST REPORT CAL.488

  7. 2026-01-07 Senate

    REFERRED TO INSURANCE

  8. 2025-05-15 Senate

    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
        ________________________________________________________________________

                                          8097

                               2025-2026 Regular Sessions

                                    I N  S E N A T E

                                      May 15, 2025
                                       ___________

        Introduced  by  Sen.  BAILEY -- read twice and ordered printed, and when
          printed to be committed 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