---
type: "Bill"
title: "Authorizes the power authority of the state of New York to form a pure captive insurance company"
description: "Authorizes the power authority of the state of New York to form a pure captive insurance company."
jurisdiction: "us/states/ny"
legislature: "New York Legislature"
session: "2021-2022"
identifier: "A 7987"
citation: "New York A 7987 (2021-2022)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["CUSICK"]
version_count: 1
action_count: 13
vote_count: 2
first_action: "2021-06-04"
last_action: "2022-05-09"
source: "openstates"
source_identifier: "ocd-bill/c074b87b-07ef-42c2-821c-c013e5e44da3"
source_url: "http://www.nysenate.gov/legislation/bills/2021/A7987"
source_hash: "e73d66fd175821e24782463efc58ff859c67eb0436ca708c880d52ea2e0fee07"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ny"]
---

# New York A 7987 (2021-2022) — Authorizes the power authority of the state of New York to form a pure captive insurance company

Authorizes the power authority of the state of New York to form a pure captive insurance company.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **A7987** (committee substitute) — [source](http://assembly.state.ny.us/leg/?sh=printbill&bn=A7987&term=2021&Text=Y)

## Votes

- Assembly Vote — **138–0** (pass) · lower
- Floor Vote — **63–0** (pass) · upper

## Sponsors

- CUSICK — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2021-06-04** REFERRED TO INSURANCE `referral-committee`
- **2022-01-05** REFERRED TO INSURANCE `referral-committee`
- **2022-02-16** REPORTED
- **2022-02-17** ADVANCED TO THIRD READING CAL.437
- **2022-02-28** PASSED ASSEMBLY `passage`
- **2022-02-28** DELIVERED TO SENATE
- **2022-02-28** REFERRED TO ENERGY AND TELECOMMUNICATIONS `referral-committee`
- **2022-03-24** SUBSTITUTED FOR S7087A
- **2022-03-24** 3RD READING CAL.714
- **2022-03-24** PASSED SENATE `passage`
- **2022-03-24** RETURNED TO ASSEMBLY
- **2022-04-27** DELIVERED TO GOVERNOR `executive-receipt`
- **2022-05-09** SIGNED CHAP.193 `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c074b87b-07ef-42c2-821c-c013e5e44da3`. Confidence: reported (aggregated from official New York legislature records).