S T A T E O F N E W Y O R K
________________________________________________________________________
9399
I N A S S E M B L Y
February 24, 2012
___________
Introduced by M. of A. CURRAN -- read once and referred to the Committee
on Education
AN ACT to amend the general municipal law, in relation to authorizing
the withdrawal of funds from the employee benefit accrued liability
reserve fund
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 12 to read as follows:
12. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE GOVERN-
ING BOARD OF A SCHOOL DISTRICT MAY, DURING THE TWO THOUSAND TWELVE--TWO
THOUSAND THIRTEEN SCHOOL YEAR, 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 DETERMINED BY THE COMPTROLLER PURSUANT TO SECTION
THIRTY-THREE OF THIS CHAPTER OR (B) THE AMOUNT OF THE SCHOOL DISTRICT'S
GAP ELIMINATION ADJUSTMENT AS CALCULATED BY THE COMMISSIONER OF EDUCA-
TION PURSUANT TO SUBDIVISION SEVENTEEN OF SECTION THIRTY-SIX HUNDRED TWO
OF THE EDUCATION LAW. FUNDS WITHDRAWN PURSUANT TO THIS SUBDIVISION MAY
ONLY BE USED FOR THE PURPOSE OF MAINTAINING EDUCATIONAL PROGRAMMING
DURING THE TWO THOUSAND TWELVE--TWO THOUSAND THIRTEEN SCHOOL YEAR WHICH
OTHERWISE WOULD HAVE BEEN REDUCED AS A RESULT OF SUCH GAP ELIMINATION
ADJUSTMENT. GOVERNING BOARDS WHICH MAKE SUCH A WITHDRAWAL SHALL SUBMIT,
IN A FORM PRESCRIBED BY THE COMMISSIONER OF EDUCATION, RELEVANT INFORMA-
TION 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SUCH WITHDRAWN FUNDS.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.
LBD14781-01-2