S 7222 New York Senate · 2025 Regular Session

Relates to indexing fixed amounts and clarifying compliance

This bill updates rules for life insurance agent compensation in New York. It revises dollar amounts for training allowances and eligibility criteria, setting new limits on how much companies can pay agents during their early years (e.g., $40,000 in Year 1 instead of $20,000). The changes clarify that agents must meet specific income or sales activity thresholds to qualify for subsidies, and establish cumulative caps over multiple years. Companies must follow these updated limits when providing training support, with the superintendent allowed to adjust amounts periodically.
Bill status signed all 5 stages cleared
Introduction
Apr 2025
Committee Review
Jun 2025
Senate Passage
Jun 2025
Assembly Passage
Jun 2025
Signed into Law
Sep 2025
Introduced Apr 4, 2025 Signed Sep 26, 2025
Maddy AI version diff · 1 comparison

What changed between versions

S7222 S7222A · 5 edits
MODERATE
This bill amends New York's insurance law to update definitions related to inflation indexing, reorganize how selling expenses are categorized for regulatory compliance, and significantly expand eligibility criteria and subsidy limits for insurance agents receiving training allowances.
Scope change
The bill expands the scope of covered expenses under the insurance law and broadens eligibility for agent training subsidies to include additional income and worktime thresholds.
DEFINITION

Added new definitions for CPI, CPI for the preceding calendar year, and percent increase in inflation to clarify how fixed amounts in insurance contracts should be indexed.

REQUIREMENT

Reorganized the categorization of selling expenses under the insurance law, consolidating distribution, marketing, and sales support expenses into a single subsection and clarifying what costs are included.

Added a new requirement that companies must establish agent eligibility for training subsidies through attestation, with provisions for rejecting attestations based on actual knowledge of credentials.

ELIGIBILITY

Expanded eligibility for training allowance subsidies by adding new criteria based on worktime allocation and earned income thresholds, in addition to existing sales volume limits.

FISCAL

Increased the maximum cumulative training allowance subsidies that companies can pay to agents, raising limits from approximately $28,000-$66,000 to $54,000-$127,000 depending on the year of receipt.

Floor votes · Senate Jun 12, 2025 · Assembly Jun 13, 2025

How they voted

590
Passed · 4 other
Total votes 63
Jun 12, 2025
D Democratic41
38 Yea 3
92% Yea
R Republican22
21 Yea 1
95% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
13
Key actions
4
Committee
3
Amendments
1
Sep 26, 2025
Signed into law
SIGNED CHAP.427
upper
Jun 13, 2025
Lower · Passed
PASSED ASSEMBLY
lower
Jun 12, 2025
Committee
REFERRED TO WAYS AND MEANS
lower
Jun 12, 2025
Upper · Passed
PASSED SENATE
upper
Jun 9, 2025
Upper · Passed
AMENDED ON THIRD READING 7222A
upper
Jun 9, 2025
Committee
COMMITTEE DISCHARGED AND COMMITTED TO RULES
upper
Apr 4, 2025
Committee
REFERRED TO INSURANCE
upper
1 primary · 2 co-sponsors

Sponsors