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A07488 Summary:

BILL NOA07488A
 
SAME ASSAME AS S03079-A
 
SPONSORRivera JD
 
COSPNSRDinowitz, Hevesi, Rodriguez, Meeks, Mamdani, Seawright, Jackson, Galef, Gottfried, Fahy, McMahon, Clark, Simon, Peoples-Stokes, Cruz, Sayegh, Solages, Hunter, Rivera J, Zinerman, De Los Santos, Lavine, Rosenthal L, Taylor
 
MLTSPNSR
 
Add 3462, Ins L
 
Relates to prohibiting the exclusion of coverage for losses or damages caused by exposure to lead-based paint; provides that no insurer licensed or permitted by the superintendent to provide liability coverage to rental property owners shall exclude coverage for losses or damages caused by exposure to lead-based paint.
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A07488 Actions:

BILL NOA07488A
 
05/11/2021referred to insurance
05/20/2021reported referred to codes
05/25/2021reported referred to rules
06/01/2021reported
06/01/2021rules report cal.250
06/01/2021ordered to third reading rules cal.250
06/08/2021passed assembly
06/08/2021delivered to senate
06/08/2021REFERRED TO RULES
01/05/2022DIED IN SENATE
01/05/2022RETURNED TO ASSEMBLY
01/05/2022ordered to third reading cal.246
01/12/2022amended on third reading 7488a
03/24/2022passed assembly
03/24/2022delivered to senate
03/24/2022REFERRED TO INSURANCE
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A07488 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A7488A
 
SPONSOR: Rivera JD
  TITLE OF BILL: An act to amend the insurance law, in relation to prohibiting the exclu- sion of coverage for losses or damages caused by exposure to lead-based paint   PURPOSE: This bill would help to protect renters who are exposed to lead-based paint by prohibiting the exclusion of coverage for losses or damages caused by exposure to lead-based paint from liability coverage provided to rental property owners.   SUMMARY OF PROVISIONS: Section 1: Amends the Insurance Law by adding a new section 3462, which prohibits exclusion for lead hazards on and after the 26th month follow- ing the bill taking effect. Section 2: Sets an immediate effective date.   JUSTIFICATION: Lead poisoning leads to a multitude of issues that can detrimentally impact a person throughout their lifetime. It leads to decreased IQ and cognitive function, developmental delays, and behavioral problems in children. In adults, lead poisoning can manifest itself in the form of hypertension and cardiovascular disease. Some have even linked early exposure to lead with Alzheimer's disease. Extreme levels can cause severe and immediate consequences, such as seizures, comas, and even death. The most common cause of lead poisoning in children is the inges- tion of lead paint from poorly maintained residential housing units. New York State has a lead poisoning problem. Because lead will remain in U.S. housing for decades to come, it is important that New York State take action to protect renters. This bill requires that liability cover- age include coverage for injuries or damage caused by exposure to lead paint. If signed into law, this would be an important measure to protect New Yorkers who are exposed to this dangerous substance.   LEGISLATIVE HISTORY: 2020-2021: A.7488 Passed the Assembly 2019-2020: A.6062 Passed the Assembly 2017-2018: A.7786 Passed the Assembly   FISCAL IMPLICATIONS: None.   EFFECTIVE DATE: This act shall take effect immediately.
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A07488 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         7488--A
                                                                Cal. No. 246
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 11, 2021
                                       ___________
 
        Introduced  by  M. of A. J. D. RIVERA, DINOWITZ, HEVESI, MEEKS, MAMDANI,
          SEAWRIGHT, JACKSON, GALEF, GOTTFRIED,  FAHY,  McMAHON,  CLARK,  SIMON,
          PEOPLES-STOKES -- read once and referred to the Committee on Insurance
          --  ordered to a third reading, amended and ordered reprinted, retain-
          ing its place on the order of third reading
 
        AN ACT to amend the insurance law, in relation to prohibiting the exclu-
          sion of coverage for losses or damages caused  by  exposure  to  lead-
          based paint
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The insurance law is amended by adding a new  section  3462
     2  to read as follows:
     3    §  3462. Exclusion for lead hazards prohibited. No insurer licensed or
     4  permitted by the superintendent to provide liability coverage to  rental
     5  property  owners  shall  exclude,  after twenty-six months following the
     6  effective date of this section, coverage for losses or damages caused by
     7  exposure to lead-based paint. The department shall not permit, authorize
     8  or approve any exclusion for injury or damage resulting from exposure to
     9  lead-based paint, except as specifically provided for in law,  that  was
    10  not  in  effect as of the effective date of this section, and all previ-
    11  ously approved exclusions shall terminate on or before twenty-six months
    12  following the effective date of this section.
    13    § 2. This act shall take effect immediately.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05070-03-2
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