senate Bill S7552

Authorizes the town of Oyster Bay, county of Nassau to amortize the cost of payments to employees upon separation of service from the town

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 01 / Jun / 2012
    • REFERRED TO LOCAL GOVERNMENT
  • 21 / Jun / 2012
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 21 / Jun / 2012
    • ORDERED TO THIRD READING CAL.1505
  • 21 / Jun / 2012
    • SUBSTITUTED BY A10552

Summary

Authorizes the town of Oyster Bay, county of Nassau to amortize the cost of payments to employees upon separation of service from the town.

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Bill Details

See Assembly Version of this Bill:
A10552
Versions:
S7552
Legislative Cycle:
2011-2012
Law Section:
Local Finance Law
Laws Affected:
Amd ยง11.00, Loc Fin L

Sponsor Memo

BILL NUMBER:S7552

TITLE OF BILL:
An act to amend the local finance law, in relation to authorizing the
town of Oyster Bay, county of Nassau to amortize the cost of payments to
employees upon separation of service from the town

PURPOSE:
This legislation would allow the Town of Oyster Bay to amortize the cost
of payments to employees upon separation of service from the town.

SUMMARY OF PROVISIONS:
Section 1 of this bill amends paragraph a of section 11.00 of local
finance law by adding a new subdivision 106 that empowers the Town of
Oyster Bay to amortize accrued and accumulated but unused and unpaid
sick leave, personal leave, holiday leave, vacation time, time allow-
ances granted in lieu of overtime compensation and any other forms of
payment for time earned by employees of the Town of Oyster Bay and paya-
ble to such employees upon separation of service from the Town. The bill
permits the town to amortize any such separation payments made by the
Town.

Section 2 authorizes this act shall take effect immediately.

JUSTIFICATION:
This legislation would allow the Town of Oyster Bay to spread the impact
of the separation payments over several years, not increase its cumula-
tive deficit in its general fund and provide the town with ability to
operate within the State's imposed tax cap.

The Town of Oyster Bay also expects to realize budgetary savings in the
future as a result of the reduction in salaries attributable to the
retirees and the replacement of such retirees with lower paid employees.

LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
None to the State.

EFFECTIVE DATE:
This act shall take effect immediately.

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

                                  7552

                            I N  S E N A T E

                              June 1, 2012
                               ___________

Introduced  by COMMITTEE ON RULES -- read twice and ordered printed, and
  when printed to be committed to the Committee on Local Government

AN ACT to amend the local finance law, in relation  to  authorizing  the
  town  of Oyster Bay, county of Nassau to amortize the cost of payments
  to employees upon separation of service from the town

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

  Section  1.  Paragraph  a of section 11.00 of the local finance law is
amended by adding a new subdivision 106 to read as follows:
  106. PAYMENTS BY THE TOWN OF OYSTER BAY TO EMPLOYEES  UPON  SEPARATION
FROM  EMPLOYMENT,  AS MAY BE APPROVED BY THE TOWN AND INCLUDING, BUT NOT
LIMITED TO, SUCH PAYMENTS, CASH PAYMENT FOR SEPARATION INCENTIVES AND/OR
PAYMENT OF THE MONETARY VALUE OF ACCRUED AND ACCUMULATED BUT UNUSED  AND
UNPAID  SICK  LEAVE,  VACATION  TIME,  AND  ANY  OTHER  FORMS OF PAYMENT
REQUIRED TO BE PAID TO SUCH EMPLOYEES UPON SEPARATION  FROM  EMPLOYMENT,
TEN YEARS.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD16116-01-2

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