Relates to the time period for submitting reports regarding the valuation manual and makes provisions relating to such valuation manual permanent

Bill A 8494 amends existing law regarding a "valuation manual" related to the insurance industry. It adjusts the reporting schedule for the Department of Financial Services (DFS), requiring them to submit reports on the manual's impact in the second and fifth years after its implementation, removing a previous seventh-year report. Additionally, this bill makes the provisions related to the valuation manual permanent by removing a 10-year sunset clause, ensuring these regulations continue indefinitely. This primarily affects the reporting obligations of the DFS and the long-term regulatory framework for insurance companies.