S T A T E O F N E W Y O R K
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4769
2015-2016 Regular Sessions
I N A S S E M B L Y
February 6, 2015
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Introduced by M. of A. NOLAN, JAFFEE -- read once and referred to the
Committee on Local Governments
AN ACT to amend the general municipal law, in relation to authorizing
boards of cooperative educational services to establish workers'
compensation reserve funds
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The section heading and subdivisions 1, 3, 4 and 6 of
section 6-j of the general municipal law, the section heading as amended
by chapter 704 of the laws of 1956, subdivisions 1, 4 and 6 as amended
by chapter 340 of the laws of 1973, subdivision 3 as amended by chapter
140 of the laws of 1996 and subdivision 6 as renumbered by chapter 433
of the laws of 1987, are amended to read as follows:
[Workmen's] WORKERS' compensation reserve fund. 1. The governing board
of any municipal corporation, school district, BOARD OF COOPERATIVE
EDUCATIONAL SERVICES or fire district, which is, or shall [hereafter]
become a self-insurer under the provisions of SUBDIVISION FOUR OF
section fifty[, subdivision four] of the [workmen's] WORKERS' compen-
sation law or section thirty of the volunteer [firemen's] FIREFIGHTERS'
benefit law may establish a reserve fund to be known as the [workmen's]
WORKERS' compensation reserve fund of such municipal corporation, school
district, BOARD OF COOPERATIVE EDUCATIONAL SERVICES or fire district.
3. The moneys in such fund shall be deposited and secured in the
manner provided by section ten of this article. The money in such fund
so deposited shall be accounted for separate and apart from all other
funds of the municipality, school district, BOARD OF COOPERATIVE EDUCA-
TIONAL SERVICES or fire district, in the same manner as provided in
subdivision ten of section six-c of this article. The governing board,
or the chief fiscal officer of such municipality, school district, BOARD
OF COOPERATIVE EDUCATIONAL SERVICES or fire district, if the governing
board shall delegate such duty to him OR HER, may invest the moneys in
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06008-01-5
A. 4769 2
such fund in the manner provided in section eleven of this article. Any
interest earned or capital gain realized on the money so deposited or
invested shall accrue to and become part of such fund. The separate
identity of such fund shall be maintained whether its assets consist of
cash or investments or both.
4. An expenditure shall be made from such fund only for the payment of
compensation and benefits, medical, hospital or other expense authorized
by article two of the [workmen's] WORKERS' compensation law and by the
volunteer [firemen's] FIREFIGHTERS' benefit law and expenses of adminis-
tering the self-insurance program for such municipal corporation, school
district, BOARD OF COOPERATIVE EDUCATIONAL SERVICES or fire district.
6. If the municipal corporation, school district, BOARD OF COOPERATIVE
EDUCATIONAL SERVICES or fire district shall, after the establishment of
such fund, cease to be a self-insurer, the moneys remaining in such fund
may be transferred to any other fund authorized by this chapter or
section thirty-six hundred fifty-one of the education law only to the
extent that the moneys in such fund shall exceed in amount the sum
sufficient to pay all expenditures authorized in [paragraph numbered]
SUBDIVISION four OF THIS SECTION, both accrued and contingent.
S 2. This act shall take effect immediately.