New York S05356 amends the insurance law to address taxes on foreign fire insurance premiums and allows local governments to update outdated laws.

New York S05356 amends the insurance law by adding a new section 9112, which allows the governing bodies of cities, towns, or villages to repeal any existing local laws or charter provisions that are not in compliance with this new section. This change is intended to address taxes on foreign fire insurance premiums and to permit local governments to update outdated laws related to the disbursement of foreign fire insurance. The act takes effect immediately upon being signed into law.

New York S05356 amends the insurance law to address taxes on foreign fire insurance premiums and allows local governments to update outdated laws.

New York S05356 amends the insurance law by adding a new section 9112, which allows the governing bodies of cities, towns, or villages to repeal any existing local laws or charter provisions that are not in compliance with this new section. This change is intended to address taxes on foreign fire insurance premiums and to permit local governments to update outdated laws related to the disbursement of foreign fire insurance. The act takes effect immediately upon being signed into law.