Bill > A08041

This bill directs the New York Department of Financial Services (DFS), in collaboration with the Department of Transportation (DOT), to conduct a comprehensive study on the fair market value of labor rates for services covered under motor vehicle insurance policies. The study aims to analyze and assess the current labor rates in auto repair and insurance services. Within one year of the bill's effective date, the DFS and DOT must complete the study and issue a detailed report with their findings and recommendations to key state leadership, including the governor, the temporary president of the senate, and the speaker of the assembly. The bill is designed to provide insights into potential disparities or issues in labor pricing within the motor vehicle insurance industry and may lead to future regulatory or legislative actions based on the study's results. The act will take effect immediately upon passage.

Budget and Finance, Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A8041