Relates to the fire insurance premium tax on foreign and alien insurers

This bill increases the fire insurance premium tax rate for foreign and alien insurers operating outside New York City and Buffalo. It raises the tax from $1.28 to $2.80 per $100 of premiums collected on fire insurance policies covering property in most New York cities, villages, or fire districts. The change applies to all foreign and alien fire insurance corporations (excluding mutual companies) writing policies in affected areas. The tax increase takes effect January 1 following the bill's enactment.