2023 New York Laws › STF - State Finance › Article 6 - Funds of the State › 99-Y*2 - Health Republic Insurance of New York Fund.

* §  99-y.  Health  republic  insurance  of New York fund. 1. There is
hereby established in the joint custody of the state comptroller and the
superintendent of the department of financial services a special fund to
be known as the "health republic insurance of New York fund".
2. (a) Such fund shall consist  of  transfers  as  authorized  by  the
director  of  the  budget,  in his or her sole discretion, between April
first,  two  thousand  sixteen  and  March  thirty-first,  two  thousand
nineteen,   from   amounts   collected  as  a  result  of  a  judgement,
stipulation, decree, agreement to settle, assurance  of  discontinuance,
or  other  legal  instrument  resolving  any  claim  or cause of action,
whether filed or unfiled, actual or potential, and whether arising under
common law, equity, or any  provision  of  law,  and  all  other  monies
appropriated,  credited,  or  transferred thereto from any other fund or
source pursuant to law.
(b) Paragraph (a) of this subdivision shall not apply to:  (i)  moneys
to  be  distributed to the federal government, to a local government, or
to any holder of a bond or other debt instrument issued  by  the  state,
any  public authority, or any public benefit corporation; (ii) moneys to
be distributed  solely  or  exclusively  as  a  payment  of  damages  or
restitution to individuals or entities that were specifically injured or
harmed  by  the  defendant's  or  settling  party's conduct and that are
identified in, or can be  identified  by  the  terms  of,  the  relevant
judgment,  agreement to settle, assurance of discontinuance, or relevant
instrument  resolving  the  claim  or  cause  of  action;  (iii)  moneys
recovered  or obtained by a state agency or a state official or employee
acting in their official capacity where application of paragraph (a)  of
this  subdivision  is prohibited by federal law, rule, or regulation, or
would result in the reduction or loss of federal  funds  or  eligibility
for  federal benefits pursuant to federal law, rule, or regulation; (iv)
moneys recovered or obtained by or on behalf of a  public  authority,  a
public  benefit corporation, the department of taxation and finance, the
workers'  compensation  board,  the  New  York  state  higher  education
services  corporation,  the  tobacco settlement financing corporation, a
state or local retirement system, an  employee  health  benefit  program
administered  by  the  New  York  state department of civil service, the
Title IV-D child support fund, the lottery  prize  fund,  the  abandoned
property  fund,  or  an endowment of the state university of New York or
any unit thereof or any state agency, provided that all  of  the  moneys
received or recovered are immediately transferred to the relevant public
authority,  public  benefit  corporation,  department, fund, program, or
endowment; (v) moneys to be refunded to an individual or entity  as  (1)
an  overpayment  of  a  tax, fine, penalty, fee, insurance premium, loan
payment, charge or surcharge; (2) a return of seized assets;  or  (3)  a
payment  made  in  error;  and (vi) moneys to be used to prevent, abate,
restore, mitigate, or control any  identifiable  instance  of  prior  or
ongoing water, land or air pollution.
3.  Monies  shall  be  paid  out of this fund at the discretion of the
superintendent of the department of financial services only pursuant  to
appropriation and the terms to be set forth in a future chapter of law.
4.  Monies  shall be paid out of this fund only after the distribution
of all assets in connection with  a  liquidation  proceeding  of  Health
Republic Insurance of New York filed pursuant to article seventy-four of
the insurance law has been completed.
5.  Monies  shall be paid out of this fund on the audit and warrant of
the  state  comptroller  on  vouchers  certified  or  approved  by   the
superintendent of the department of financial services.
* NB There are 3 § 99-y's