Assembly Bill A10145A

2017-2018 Legislative Session

Authorizes all school districts to establish insurance reserve funds

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

multi-Sponsors

2017-A10145 - Details

See Senate Version of this Bill:
S7702
Current Committee:
Assembly Education
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2019-2020: A114
2021-2022: A4940
2023-2024: A4953

2017-A10145 - Summary

Authorizes all school districts to establish insurance reserve funds.

2017-A10145 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10145
 
                           I N  A S S E M B L Y
 
                              March 20, 2018
                                ___________
 
 Introduced by M. of A. BUCHWALD -- read once and referred to the Commit-
   tee on Education
 
 AN  ACT  to  amend the general municipal law, in relation to authorizing
   all school districts to establish reserve funds
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph (a) of subdivision 2 of section 6-n of the gener-
 al  municipal  law, as separately amended by chapters 414 and 416 of the
 laws of 2016, is amended to read as follows:
   (a) The governing board of any municipal corporation may  establish  a
 reserve  fund  to  be  known  as  the  insurance  reserve fund. Upon the
 creation of the fund, the municipality may make  expenditures  from  the
 fund  for  any  loss,  claim, action or judgment for which the municipal
 corporation is authorized or required to purchase or maintain insurance,
 except those kinds of risks for which insurance is  authorized  pursuant
 to  paragraph  one,  two,  three, fifteen, sixteen, seventeen, eighteen,
 twenty-two or twenty-three of subsection (a) of section one thousand one
 hundred thirteen of the insurance  law,  or  for  payments  in  lieu  of
 contributions under article eighteen of the labor law; provided however,
 that  no  municipality  shall make an expenditure from such fund for any
 loss, claim, action or judgment for which the municipal corporation  has
 established  a  reserve fund under any other provision of law; provided,
 further that [the Scarsdale union free school district  and  the  Vernon
 Verona  Sherrill central school district may establish insurance reserve
 funds in compliance with this section and article  seventy-four  of  the
 education  law  and the Minisink Valley central] ANY school district may
 establish insurance reserve funds in compliance with  this  section  and
 article  seventy-four of the education law and such school districts may
 make expenditures in compliance with this section and  article  seventy-
 four  of  the  education law from such reserve fund for any loss, claim,
 action or judgment for which the  school  districts  are  authorized  or
 required  to  purchase  or maintain insurance for the kinds of risks for
 which insurance is authorized pursuant to paragraph three of  subsection
 (a) of section one thousand one hundred thirteen of the insurance law.
   §  2.  This act shall take effect on the first of July next succeeding
 the date on which it shall have become a law.
              

co-Sponsors

multi-Sponsors

2017-A10145A (ACTIVE) - Details

See Senate Version of this Bill:
S7702
Current Committee:
Assembly Education
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2019-2020: A114
2021-2022: A4940
2023-2024: A4953

2017-A10145A (ACTIVE) - Summary

Authorizes all school districts to establish insurance reserve funds.

2017-A10145A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                 10145--A
 
                           I N  A S S E M B L Y
 
                              March 20, 2018
                                ___________
 
 Introduced  by M. of A. BUCHWALD, GALEF, ZEBROWSKI, McDONALD, SEAWRIGHT,
   RIVERA, BARRON, CAHILL, LAVINE, CROUCH, GIGLIO, COOK, OAKS  --  Multi-
   Sponsored  by  -- M. of A. BARCLAY, SIMON -- read once and referred to
   the Committee on Education  --  committee  discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee

 AN  ACT  to  amend the general municipal law, in relation to authorizing
   all school districts to establish reserve funds
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 2 of section 6-n of the gener-
 al  municipal  law, as separately amended by chapters 414 and 416 of the
 laws of 2016, is amended to read as follows:
   (a) The governing board of any municipal corporation may  establish  a
 reserve  fund  to  be  known  as  the  insurance  reserve fund. Upon the
 creation of the fund, the municipality may make  expenditures  from  the
 fund  for  any  loss,  claim, action or judgment for which the municipal
 corporation is authorized or required to purchase or maintain insurance,
 except those kinds of risks for which insurance is  authorized  pursuant
 to  paragraph  one,  two,  three, fifteen, sixteen, seventeen, eighteen,
 twenty-two or twenty-three of subsection (a) of section one thousand one
 hundred thirteen of the insurance  law,  or  for  payments  in  lieu  of
 contributions under article eighteen of the labor law; provided however,
 that  no  municipality  shall make an expenditure from such fund for any
 loss, claim, action or judgment for which the municipal corporation  has
 established  a  reserve fund under any other provision of law; provided,
 further that [the Scarsdale union free school district  and  the  Vernon
 Verona  Sherrill central school district may establish insurance reserve
 funds in compliance with this section and article  seventy-four  of  the
 education  law  and the Minisink Valley central] ANY school district may
 establish insurance reserve funds in compliance with  this  section  and
 article  seventy-four  of  the  education  law,  IN AN AMOUNT AND MANNER
 DETERMINED BY A QUALIFIED AND INDEPENDENT ACTUARY CERTIFIED BY THE AMER-
 ICAN ACADEMY OF ACTUARIES TO  BE  REASONABLE  AND  NECESSARY,  and  such
 school  districts  may make expenditures in compliance with this section
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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