Extends provisions relating to owner controlled insurance programs; provides that for such purposes "public corporation" or "public authority" shall not include bridge, tunnel or omnibus facilities.
TITLE OF BILL:
An act to amend the insurance law, in relation to extending owner controlled insurance programs in certain instances
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.
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.
This is a new bill.
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.
2011/12 - S.1358/A.3386 2009-10 - S.4470/A.7875
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.
STATE OF NEW YORK ________________________________________________________________________ 412 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________Introduced by Sen. DILAN -- 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. LBD00595-01-3