S T A T E O F N E W Y O R K
________________________________________________________________________
5589
2017-2018 Regular Sessions
I N A S S E M B L Y
February 10, 2017
___________
Introduced by M. of A. ENGLEBRIGHT, ZEBROWSKI, JAFFEE, HOOPER, OTIS --
Multi-Sponsored by -- M. of A. FINCH, GIGLIO, KOLB, MAGEE, RAIA,
SEPULVEDA, THIELE -- read once and referred to the Committee on Educa-
tion
AN ACT to authorize certain school districts to elect to withdraw excess
monies from the employee benefit accrued liability reserve fund; and
to repeal subdivision 3 of section 33 of the general municipal law,
relating to the examination of accounts
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Any school district having monies in an employee benefit
accrued liability reserve fund established pursuant to section 6-p of
the general municipal law, on the effective date of this act, may make a
one time election, by resolution of its governing board adopted no later
than one year after such effective date, to transfer up to fifty percent
of the total of such monies or one hundred percent of the excess of such
monies, whichever is greater, into the general fund of the school
district. Such funds transferred by this section shall only be used to
mitigate an anticipated increase in school property taxes and/or restore
anticipated or actual staff level reductions.
§ 2. Subdivision 3 of section 33 of the general municipal law is
REPEALED.
§ 3. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03256-01-7