BILL NUMBER: S771
SPONSOR: MAYER
 
TITLE OF BILL:
An act to amend the insurance law, in relation to increasing the number
of properties eligible for the coastal market assistance program
 
PURPOSE:
This is a chapter amendment that makes changes to provisions of L.2024,
c.582, to increase the number of properties eligible for the coastal
market assistance program by providing eligibility to properties within
one mile of the shore.
 
SUMMARY OF PROVISIONS:
This legislation amends the underlying chapter by expanding eligibility
for C-MAP to properties located within one mile of the Hudson River.
 
JUSTIFICATION:
This legislation is a negotiated change to the underlying chapter.
 
LEGISLATIVE HISTORY:
Chapter amendment to Chapter 582 of the Laws of 2024. S.8320-A and
A.9821 passed the Senate in February 2024 and Assembly in May 2024,
respectively.
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
This act shall take effect on the same date and in the same manner as a
chapter of the laws of 2024 amending the insurance law relating to
increasing the number of properties eligible for the coastal market
assistance program, as proposed in legislative bills numbers S.8320-A
and A.9821, takes effect.