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BILL NUMBER:A10925
TITLE OF BILL: An act to amend the general municipal law, in relation
to certain reserve funds
PURPOSE:
This bill would allow school districts to withdraw excess funds from the
Employee Benefit Accrued Liability Reserve Fund to maintain educational
programming for the 2010-11 School Year.
SUMMARY OF PROVISIONS:
This bill would allow a school board to authorize the withdrawal of
excess funds, as determined by the school district's legal or fiscal
officer, from the Employee Benefit Accrued Liability Reserve Fund. The
amount of this withdrawal would be limited to the lesser of the total
excess available or the Gap Elimination Adjustment as proposed in the
2010-11 Executive Budget. These funds may only be withdrawn for the
purposes of maintaining educational programming for the 2010-11 School
Year.
STATEMENT IN SUPPORT AND BUDGETARY IMPLICATIONS:
This bill is necessary in order to assist school districts as they
complete their 2010-11 Budgets. With the prospect of a reduction in
S T A T E O F N E W Y O R K
________________________________________________________________________
S. 7690 A. 10925
S E N A T E - A S S E M B L Y
May 3, 2010
___________
IN SENATE -- Introduced by COMMITTEE ON RULES -- (at request of the
Governor) -- read twice and ordered printed, and when printed to be
committed to the Committee on Finance
IN ASSEMBLY -- Introduced by COMMITTEE ON RULES -- (at request of the
Governor) -- read once and referred to the Committee on Ways and Means
AN ACT to amend the general municipal law, in relation to certain
reserve funds
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 6-p of the general municipal law is amended by
adding a new subdivision 10 to read as follows:
10. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, THE
GOVERNING BOARD OF A SCHOOL DISTRICT MAY, DURING THE TWO THOUSAND
TEN--TWO THOUSAND ELEVEN SCHOOL YEAR, APPROVE A RESOLUTION TO AUTHORIZE
A WITHDRAWAL FROM THIS FUND IN AN AMOUNT NOT TO EXCEED THE LESSER OF:
(A) THE DOLLAR VALUE OF EXCESS FUNDING IN THE FUND AS CERTIFIED BY THE
FISCAL OR LEGAL OFFICER OF THE SCHOOL DISTRICT TO THE GOVERNING BOARD OF
THE SCHOOL DISTRICT; OR
(B) THE PRODUCT OF THE AMOUNT SET FORTH FOR EACH SCHOOL DISTRICT AS
"GAP ELIMIN ADJMT + FED RESTR" IN THE SCHOOL AID COMPUTER LISTING
PRODUCED BY THE COMMISSIONER OF EDUCATION IN SUPPORT OF THE EXECUTIVE
BUDGET REQUEST FOR THE TWO THOUSAND TEN--TWO THOUSAND ELEVEN SCHOOL YEAR
ENTITLED "BT101-1" AND NEGATIVE ONE.
FUNDS WITHDRAWN PURSUANT TO THIS SUBDIVISION MAY ONLY BE USED FOR THE
PURPOSE OF MAINTAINING EDUCATIONAL PROGRAMMING DURING THE TWO THOUSAND
TEN--TWO THOUSAND ELEVEN SCHOOL YEAR WHICH OTHERWISE WOULD HAVE BEEN
REDUCED OR ELIMINATED. GOVERNING BOARDS WHICH APPROVE A RESOLUTION TO
MAKE SUCH A WITHDRAWAL SHALL SUBMIT, IN A FORM PRESCRIBED BY THE COMMIS-
SIONER OF EDUCATION, RELEVANT INFORMATION ABOUT THE WITHDRAWAL, WHICH
SHALL INCLUDE BUT NOT BE LIMITED TO, THE AMOUNT OF SUCH WITHDRAWAL, THE
DATE OF WITHDRAWAL, AND THE USE OF SUCH WITHDRAWN FUNDS.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD12221-01-0
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