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Assembly Bill A7869

2009-2010 Legislative Session

Authorizes the Horseheads central school district to use excess employee benefit accrued liability reserve funds for certain purposes

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Archive: Last Bill Status - In Assembly Committee

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2009-A7869 (ACTIVE) - Details

See Senate Version of this Bill:
S5303
Current Committee:
Assembly Education
Law Section:
Education

2009-A7869 (ACTIVE) - Summary

Authorizes the Horseheads central school district to use excess employee benefit accrued liability reserve funds for certain purposes.

2009-A7869 (ACTIVE) - Bill Text download pdf 

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

    S. 5303                                                  A. 7869

                       2009-2010 Regular Sessions

                      S E N A T E - A S S E M B L Y

                             April 27, 2009
                               ___________

IN  SENATE -- Introduced by Sen. WINNER -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Education

IN ASSEMBLY -- Introduced by M. of A. O'MARA -- read once  and  referred
  to the Committee on Education

AN ACT in relation to authorizing the Horseheads central school district
  to  use  excess  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. Notwithstanding any other provision of law, the Horseheads
central school district, which was in part,  the  subject  of  an  audit
conducted by the state comptroller of employee benefit accrued liability
reserve  (EBALR)  funds for the period beginning July 1, 2002 and ending
June 30, 2007, and which, according to the findings of such  audit,  has
an  excess of EBALR funds, is hereby authorized to use such excess EBALR
funds to: retire short-term and long-term debt of such school  district;
pay  one-time  non-recurring  expenses  of  such school district; and/or
establish a tax rebate program to return such excess EBALR funds to  the
taxpayers of such school district.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11403-01-9

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