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A 3786

Relates to the distribution of fire insurance premium taxes

2025 Regular Session Introduced by Karl Brabenec and 9 co-sponsors

A 3786 revises how fire insurance premium taxes are distributed, shaping who funds local fire departments and public-safety programs.

REFERRED TO INSURANCE
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Bill Summary · A 3786

Bill Summary: A 3786 – Relates to the distribution of fire insurance premium taxes

Overview

  • Bill Number: A 3786
  • Title: Relates to the distribution of fire insurance premium taxes
  • Status: Referred to the Assembly Committee on Insurance
  • Introduced: January 30, 2025
  • Classification: Bill

Purpose and Scope

The bill seeks to modify how fire insurance premium taxes are distributed. The exact distribution mechanisms, recipients, formulas, and any earmarks or sunset provisions would be specified in the bill’s text. The information available here confirms only the general intent to alter the framework for allocating fire insurance premium tax revenue.

Key Provisions (Subject to the enacted text)

  • The specific distribution formula for fire insurance premium taxes (e.g., recipient entities, geographic allocations, and percentages) would be established or revised.
  • Any eligibility criteria for recipients (such as funding for local fire departments, fire districts, or related public safety programs) would be defined.
  • Potential transitional provisions, reporting requirements, and oversight/administrative provisions related to the distribution could be included.
  • Effective date and any phase-in or sunset terms would be designated in the bill text.

Note: The provided information does not include the bill’s actual statutory text, so the above reflects the typical elements such a measure would address. The precise provisions should be consulted in the official bill language.

Affected Parties and Impacts

  • Local government and fire services: Potential changes in funding streams could affect budgets for fire departments and fire districts, depending on who receives the distributed premiums.
  • Municipalities and public safety agencies: Any shift in allocation could impact fire safety programs and capital expenditures funded by premium tax revenue.
  • Insurance industry and policyholders: If the distribution changes alter premium tax flows or earmarks, there could be indirect effects on premiums or compliance, though specifics depend on the final text.
  • State and oversight bodies: Any new reporting or oversight requirements would involve state agencies responsible for tax administration and public safety funding.

Legislative Process and Timeline

  • Committee Action: Referred to the Assembly Committee on Insurance (January 30, 2025).
  • Actions Listed: The record shows the bill being referred to Insurance (duplicate entry appears in the provided data).
  • Companion Legislation: Senate companion is S 6716 (listed twice in related bills), indicating parallel consideration in the Senate.
  • Sponsors:
    • Primary sponsor: David Weprin
    • Co-sponsors (listed): Angelo Santabarbara, Sarahana Shrestha, John Lemondes, Brian Cunningham, Demond Meeks, Amanda Septimo, Karl Brabenec, Phil Steck, Marianne Buttenschon
  • Related Bills (prior sessions): A 9432, A 6260, A 5783, A 4093, A 7160
  • The typical path would involve hearings, potential amendments, and votes in the Insurance Committee, followed by floor consideration in the Assembly, and similar steps in the Senate for the companion bill.

Notes

  • The current summary reflects information provided here. The exact statutory language and final policy impact will depend on the text of A 3786 as filed and any subsequent amendments.

Compiled from official sources — confirm details with the bill’s official record.

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