| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 06, 2016 |
referred to education |
| Jan 15, 2015 |
referred to education |
Senate Bill S1912
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Education Committee
Actions
co-Sponsors
(R, C) 7th Senate District
2015-S1912 (ACTIVE) - Details
- Current Committee:
- Senate Education
- Law Section:
- Education Law
- Laws Affected:
- Amd ยง3651, Ed L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S2645
2017-2018: S762
2015-S1912 (ACTIVE) - Sponsor Memo
BILL NUMBER:S1912 REVISED MEMO 02/25/2015
TITLE OF BILL: An act to amend the education law, in relation to
authorizing school districts to establish reserve funds for the
payment of contributions to the New York state teachers' retirement
system
PURPOSE:
Authorizes school districts to establish reserve funds for the payment
of their contributions to the New York State Teachers' Retirement
System
SUMMARY OF PROVISIONS:
Section 1- amends 3651 of the education law by adding a new
subdivision 1-c to authorize school districts to establish a reserve
fund for the payment of the district's contributions to the New York
State Teachers' Retirement System without the approval of the voters
in the district. Such fund may not exceed the amount which is
necessary to meet such contributions.
Section 2- Contains the effective date.
EXISTING LAW:
2015-S1912 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
1912
2015-2016 Regular Sessions
I N S E N A T E
January 15, 2015
___________
Introduced by Sens. LITTLE, MARTINS -- read twice and ordered printed,
and when printed to be committed to the Committee on Education
AN ACT to amend the education law, in relation to authorizing school
districts to establish reserve funds for the payment of contributions
to the New York state teachers' retirement system
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 1-c to read as follows:
1-C. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION ONE OF THIS
SECTION, ANY SCHOOL DISTRICT MAY ESTABLISH A RESERVE FUND FOR THE
PAYMENT OF THE DISTRICT'S CONTRIBUTIONS TO THE NEW YORK STATE TEACHERS'
RETIREMENT SYSTEM, PURSUANT TO ARTICLE ELEVEN OF THIS CHAPTER, WITHOUT
APPROVAL BY THE QUALIFIED VOTERS OF THE DISTRICT; PROVIDED, HOWEVER,
THAT THE TOTAL OF THE MONIES HELD IN SUCH RESERVE FUND SHALL NOT EXCEED
THAT AMOUNT WHICH IS REASONABLY DEEMED NECESSARY TO MEET SUCH CONTRIB-
UTIONS.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06269-01-5
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