Aug 20, 2020
New COVID-19-related bills introduced in state Assembly
Two new COVID-19-related bills were introduced earlier this week in the state Assembly. A.10903, introduced at the request of Assemblyman Robert Carroll, D-44, would authorize and direct the New York State Department of Financial Services to require insurers to give insurance premium refunds and make other adjustments for all policyholders who have been adversely impacted by COVID-19. Refunds or adjustments would apply to each month during the declared state emergency, which began March 7, 2020. The refunds and adjustments would apply to private passenger automobile insurance, commercial automobile insurance, workers’ compensation insurance, commercial multiple-peril insurance, commercial liability insurance, medical malpractice insurance, and any other line of coverage that the measures of risk have become substantially overstated as a result of the COVID-19 pandemic.
The second bill, A.10920, was introduced at the request of Assemblywoman Karines Reyes, D-87, would establish a tax credit of up to $5,000 for the purchase of personal protective equipment by employers that employ fewer than 500 people. The sponsor stated in her sponsors memo, “As New York reopens, steps must be taken to protect workers and consumers from viral transmission. A tax credit serves to ease the financial burden of obtaining and providing [PPE].”