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Senate Bill S7786

2017-2018 Legislative Session

Relates to insurance reserve funds of certain school districts

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Archive: Last Bill Status - In Senate Committee Local Government Committee

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2017-S7786 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L
Versions Introduced in 2019-2020 Legislative Session:
S1737

2017-S7786 (ACTIVE) - Summary

Allows the Grand Island central school district, the Tonawanda central school district, the Kenmore Tonawanda union free school district, the Frontier central school district, and the Orchard Park central school district to establish insurance reserve funds.

2017-S7786 (ACTIVE) - Sponsor Memo

2017-S7786 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7786
 
                             I N  S E N A T E
 
                             February 23, 2018
                                ___________
 
 Introduced  by  Sen.  JACOBS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the general municipal  law,  in  relation  to  insurance
   reserve funds of certain school districts
 
   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 school district may estab-
 lish insurance reserve funds in compliance with this section and article
 seventy-four of the education law and THE GRAND  ISLAND  CENTRAL  SCHOOL
 DISTRICT,  THE  TONAWANDA CENTRAL SCHOOL DISTRICT, THE KENMORE TONAWANDA
 UNION FREE SCHOOL DISTRICT, THE FRONTIER CENTRAL  SCHOOL  DISTRICT,  AND
 THE ORCHARD PARK CENTRAL 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 compli-
 ance with this section and article seventy-four  of  the  education  law
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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