state_legiscan_drain · NY
Establishes participation in assigned risk plans for voluntary foster care agencies (Part A); requires the office of children and family services to establish standards of payment for liability insurance costs beginning July 1, 2028 for the 2027-2028 rate year that ensures the maximum state aid rate accurately reflect the year over year increased costs for voluntary foster care agencies; directs such office to establish an application process (Part B); establishes the voluntary foster care agency insurance bridge fund; establishes a process for the distribution of moneys in such fund; sets eligibility requirements; requires certain supporting documentation (Part C).
February 3, 2026
Summary
If enacted, this bill would establish participation in assigned risk plans for voluntary foster care agencies in New York, require the Office of Children and Family Services to set standards for liability insurance costs, and create a bridge fund for insurance costs. This bill pertains solely to foster care agencies and has no impact on mortgage lenders, banks, credit unions, servicers, or fintechs.
Source: https://www.nysenate.gov/legislation/bills/2025/S9113
Common questions
- What does "Establishes participation in assigned risk plans for voluntary foster care agencies (Part A); requires the office of children and family services to establish standards of payment for liability insurance costs beginning July 1, 2028 for the 2027-2028 rate year that ensures the maximum state aid rate accurately reflect the year over year increased costs for voluntary foster care agencies; directs such office to establish an application process (Part B); establishes the voluntary foster care agency insurance bridge fund; establishes a process for the distribution of moneys in such fund; sets eligibility requirements; requires certain supporting documentation (Part C)." cover?
- If enacted, this bill would establish participation in assigned risk plans for voluntary foster care agencies in New York, require the Office of Children…
- When was it published?
- It was published on February 3, 2026.