S1358-2011 Actions

• Jan 4, 2012: REFERRED TO INSURANCE
• Jan 6, 2011: REFERRED TO INSURANCE

S1358-2011 Memo

BILL NUMBER:S1358

TITLE OF BILL:

An act
to amend the insurance law, in relation to extending owner controlled
insurance programs in certain instances

PURPOSE:

This bill would expand the ability of the Metropolitan Transportation
Authority (MTA), to use owner controlled insurance programs in
connection with bus facilities and bridge and tunnel capital projects.

SUMMARY OF PROVISIONS:

This bill would amend Insurance Law � 2504(a)(2)(B) to expand the
use of owner controlled insurance programs for the MTA to include
bus facilities and bridge and tunnel capital projects.

EXISTING LAW:

Currently, the MTA is permitted to use owner controlled insurance
programs only in connection with the construction of electrical
generating and transmission facilities or construction, extensions
and additions of light rail or heavy rail rapid transit and commuter
railroads.

LEGISLATIVE HISTORY:

This is a new bill.

JUSTIFICATION:

The MTA currently uses owner controlled insurance programs in
connection with its multi-billion dollar subway and commuter capital
programs.
Existing law restricts the use of owner controlled insurance programs
for other major projects, such as bridge and tunnel projects. MT A
believes that this amendment will allow it to bring the same cost
savings to these additional projects that it has already experienced
in connection with the subway and commuter railroad capital program.

LEGISLATIVE HISTORY:

2009-10 - S.4470/A.7875

FISCAL IMPLICATIONS:

This bill will have no direct state budget implications. However, the
programs already in use at MTA are estimated to have saved well in
excess of one hundred million dollars.

EFFECTIVE DATE:
This act shall take effect immediately.

S1358-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         1358
 2011-2012 Regular Sessions
 I N  SENATE
 January 6, 2011
 
 Introduced  by  Sens.  DILAN,  DIAZ,  HASSELL-THOMPSON -- read twice and
 ordered printed, and when printed to be committed to the Committee  on
 Insurance
 AN  ACT  to  amend  the  insurance  law,  in relation to extending owner
 controlled insurance programs in certain instances
 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section  1.  Subparagraph  (B)  of  paragraph  2  of subsection (a) of
 section 2504 of the insurance law is amended to read as follows:

 (B) the city of New York, a public corporation or A public  authority,
 in  connection with the construction of electrical generating and trans
 mission facilities or construction, extensions and  additions  of  light
 rail  or  heavy  rail  rapid  transit and commuter railroads, OR BRIDGE,
 TUNNEL OR OMNIBUS FACILITIES.
 

S 2. This act shall take effect immediately.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02930-01-1

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