BILL NUMBER:A10495
TITLE OF BILL:
An act to amend the education law, in relation to authorizing school
districts to expend up to sixty percent of employee benefit accrued
liability reserve funds for certain purposes
PURPOSE OR GENERAL IDEA OF BILL:
To authorize school districts to transfer not more than sixty percent of
its employee benefit accrued liability reserve to the general fund of
the school district, to be expended for such purposes as the board of
education or board of trustees shall determine, including, but not
limited to energy efficiency improvements
SUMMARY OF SPECIFIC PROVISIONS:
Amended to allow for such authorization.
Section 3651 of the education law would be
JUSTIFICATION:
Recent reports generated by the NYS Comptroller's office reference large
fund reserves being held by school districts who are reporting fiscal
stress. The employee benefit accrued liability reserve (EBALR) fund is
traditionally accessible by school districts solely for employee bene-
fits and typically is in notable excess of what funds might be needed in
the foreseeable future. This bill would allow school districts to have
S T A T E O F N E W Y O R K
________________________________________________________________________
10495
I N A S S E M B L Y
April 2, 2010
___________
Introduced by M. of A. GORDON, THIELE, DelMONTE, SKARTADOS, CASTRO,
DUPREY, McDONOUGH -- Multi-Sponsored by -- M. of A. BRENNAN, CALHOUN,
CROUCH, KOON, MAGEE -- read once and referred to the Committee on
Education
AN ACT to amend the education law, in relation to authorizing school
districts to expend up to sixty percent of employee benefit accrued
liability reserve funds for certain purposes
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 3651 of the education law is amended by adding a
new subdivision 10 to read as follows:
10. NOTWITHSTANDING THE PROVISIONS OF ANY OTHER SUBDIVISION OF THIS
SECTION, A SCHOOL DISTRICT IS AUTHORIZED TO TRANSFER NOT MORE THAN SIXTY
PERCENT OF ITS EMPLOYEE BENEFIT ACCRUED LIABILITY RESERVE TO THE GENERAL
FUND OF THE SCHOOL DISTRICT TO BE EXPENDED FOR SUCH PURPOSES AS THE
BOARD OF EDUCATION OR BOARD OF TRUSTEES SHALL DETERMINE.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16061-03-0
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