A02474 Summary:

BILL NO    A02474 

SAME AS    No same as 

SPONSOR    Englebright

COSPNSR    

MLTSPNSR   

Amd S6-p, Gen Muni L

Relates to the employee benefit accrued liability reserve fund.
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A02474 Actions:

BILL NO    A02474 

01/15/2013 referred to local governments
01/08/2014 referred to local governments
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A02474 Votes:

There are no votes for this bill in this legislative session.
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A02474 Memo:

BILL NUMBER:A2474

TITLE OF BILL:  An act to amend the general municipal law, in relation
to the employee benefit accrued liability reserve fund

PURPOSE  OR GENERAL IDEA:  To allow school districts to withdraw up to
fifty percent of funds maintained  in  the  employee  benefit  accrued
liability  reserve  fund, or one hundred percent of the excess of such
monies whichever is greater. Such funds shall only be used to mitigate
an anticipated  increase  in  school  property  taxes  and/or  restore
anticipated or actual staff level reductions

SUMMARY  OF PROVISIONS:  Section 1 allows school districts to withdraw
up to fifty percent  of  funds  maintained  in  the  employee  benefit
accrued  liability  reserve fund, or one hundred percent of the excess
of such monies whichever is greater. Such funds shall only be used  to
mitigate  an  anticipated  increase  in  school  property taxes and/or
restore anticipated or actual staff level reductions.

Section 2 Section two repeals Subdivision  3  of  section  33  of  the
general municipal law is repealed.

Section 3 is the effective date.

JUSTIFICATION:    During  these  tight fiscal times it is important to
give school districts as many opportunities to tap into reserves  they
might  have.   The Employee benefit liability reserve fund is one such
area where a school district should have access to in  order  to  help
deal with budgetary shortfalls.

LEGISLATIVE  HISTORY:    2009-10  A10990 referred to education 2011-12
A2130 Local Governments

FISCAL IMPLICATIONS: None.

EFFECTIVE DATE:  This act shall take effect immediately.
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A02474 Text:

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                         2474

                              2013-2014 Regular Sessions

                                 I N  A S S E M B L Y

                                   January 15, 2013
                                      ___________

       Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
         Committee on Local Governments

       AN ACT to amend the general municipal law, in relation to  the  employee
         benefit accrued liability reserve fund

         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:

    1    Section 1. Section 6-p of the general  municipal  law  is  amended  by
    2  adding a new subdivision 12 to read as follows:
    3    12.  IF  AFTER  AUDIT  AND CERTIFICATION BY THE STATE COMPTROLLER THAT
    4  THERE ARE FUNDS IN EXCESS OF  THOSE  REQUIRED  TO  SATISFY  LIABILITIES,
    5  THOSE  EXCESS  FUNDS  MAY  BE  TRANSFERRED  TO  THE GENERAL FUND FOR THE
    6  PURPOSE OF REAL PROPERTY TAX REDUCTION  AND/OR  VOTER  APPROVED  CAPITAL
    7  PROJECTS.
    8    S 2. This act shall take effect immediately.






        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05382-01-3
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