Builders, Nonprofits Opposing Cuomo Raid on SIF Reserves

By Michael Whiteley, Eastern Bureau ChiefNew York builders and small nonprofit groups are opposing Gov. Andrew Cuomo's plans to take $1.75 billion from the reserves of the New York State Insurance Fund and have issued alerts that it will impose a hidden premium of about 10% on NYSIF policyholders next fall.Four builders' exchanges and the New York Council of Nonprofits have called on lawmakers during the past two weeks to defeat a section of Cuomo's $142.6 billion budget that will transfer $250 million from NYSIF reserves to the state's General Fund on April 1 and another $500 ...