S T A T E O F N E W Y O R K
________________________________________________________________________
10319
I N A S S E M B L Y
March 18, 2010
___________
Introduced by M. of A. FIELDS -- read once and referred to the Committee
on Education
AN ACT authorizing certain school districts to elect to withdraw excess
monies from the employee benefit accrued liability reserve fund; and
to repeal certain provisions of the general municipal law, relating to
the examination of accounts
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Any school district having excess monies in an employee
benefit accrued liability reserve fund established pursuant to section
6-p of the general municipal law, on the effective date of this act, may
make a one time election, by resolution of its governing board adopted
no later than one year from such effective date, to transfer all or part
of such excess monies into a general fund of the school district. For
the purposes of this section, "excess monies" shall be that amount in
the fund which exceeds the amount certified to the governing board by
the fiscal and legal officers of the school district as necessary to
satisfy all liabilities incurred or accrued against the reserve.
S 2. Subdivision 3 of section 33 of the general municipal law is
REPEALED.
S 3. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16469-01-0