senate Bill S7672

Signed by Governor

Authorizes the city of Long Beach to amortize the cost of payments to or for the benefit of employees upon separation from employment

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Sponsor

Bill Status


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

  • 13 / Jun / 2012
    • REFERRED TO RULES
  • 21 / Jun / 2012
    • ORDERED TO THIRD READING CAL.1506
  • 21 / Jun / 2012
    • HOME RULE REQUEST
  • 21 / Jun / 2012
    • PASSED SENATE
  • 21 / Jun / 2012
    • DELIVERED TO ASSEMBLY
  • 21 / Jun / 2012
    • REFERRED TO WAYS AND MEANS
  • 21 / Jun / 2012
    • SUBSTITUTED FOR A9954
  • 21 / Jun / 2012
    • ORDERED TO THIRD READING RULES CAL.582
  • 21 / Jun / 2012
    • HOME RULE REQUEST
  • 21 / Jun / 2012
    • PASSED ASSEMBLY
  • 21 / Jun / 2012
    • RETURNED TO SENATE
  • 06 / Jul / 2012
    • DELIVERED TO GOVERNOR
  • 18 / Jul / 2012
    • SIGNED CHAP.258

Summary

Authorizes the city of Long Beach to amortize the cost of payments to or for the benefit of employees upon separation from employment.

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Bill Details

See Assembly Version of this Bill:
A9954
Versions:
S7672
Legislative Cycle:
2011-2012
Law Section:
Local Finance Law
Laws Affected:
Amd ยง11.00, Loc Fin L

Sponsor Memo

BILL NUMBER:S7672

TITLE OF BILL:
An act to amend the local finance law, in relation to authorizing the
city of Long Beach to amortize the cost of payments

PURPOSE:
The purpose of this bill is to allow the City of Long Beach to
amortize the cost of payments over a five year period for voluntary
early retirement incentive programs and for payment of the monetary
value of accrued and accumulated but unused and unpaid leave and any
other forms of payment required to be paid to or for the benefit of
such employees in connection with the separation from employment.

SUMMARY OF PROVISIONS:
Paragraph a of Section 11.00 of the Local Finance Law is amended by
adding a new subdivision 85-e.

JUSTIFICATION:
This bill will allow them the flexibility they need in amortizing the
cost of payments which need to be made to former employees.

LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
To be determined.

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
________________________________________________________________________

                                  7672

                            I N  S E N A T E

                              June 13, 2012
                               ___________

Introduced  by  Sen.  SKELOS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the local finance law, in relation  to  authorizing  the
  city of Long Beach to amortize the cost of payments

  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 85-e to read as follows:
  85-E.  PAYMENTS  BY  THE  CITY  OF LONG BEACH TO OR FOR THE BENEFIT OF
EMPLOYEES UPON SEPARATION FROM  EMPLOYMENT,  AS  HAVE  BEEN  OR  MAY  BE
APPROVED BY THE CITY AND INCLUDING, BUT NOT LIMITED TO, CASH PAYMENT FOR
SEPARATION  INCENTIVES,  VOLUNTARY  EARLY  RETIREMENT INCENTIVE PROGRAMS
AND/OR PAYMENT OF THE MONETARY VALUE  OF  ACCRUED  AND  ACCUMULATED  BUT
UNUSED  AND  UNPAID  SICK LEAVE, PERSONAL LEAVE, HOLIDAY LEAVE, VACATION
TIME, TIME ALLOWANCES GRANTED IN LIEU OF OVERTIME COMPENSATION, PREMIUMS
OR CONTRIBUTIONS WITH RESPECT TO HEALTH, DENTAL AND VISION  CARE  INSUR-
ANCE  PLANS FOR THE FISCAL YEAR IN WHICH SUCH SEPARATION OCCURS, AND ANY
OTHER FORMS OF PAYMENT REQUIRED TO BE PAID TO OR FOR THE BENEFIT OF SUCH
EMPLOYEES IN CONNECTION WITH THE SEPARATION FROM EMPLOYMENT, FIVE 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.
                                                           LBD15464-01-2

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