Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 13, 2018 |
print number 8945a |
Jun 13, 2018 |
amend and recommit to rules |
Jun 07, 2018 |
referred to rules |
Senate Bill S8945A
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Rules 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
Actions
Bill Amendments
2017-S8945 - Details
- See Assembly Version of this Bill:
- A11169
- Current Committee:
- Senate Rules
- Law Section:
- New York City
- Versions Introduced in 2019-2020 Legislative Session:
-
S4913, A7718
2017-S8945 - Sponsor Memo
BILL NUMBER: S8945 SPONSOR: GOLDEN TITLE OF BILL: An act to provide for the payment of the annual contributions owed and to be owed on behalf of the New York city off- track betting corporation to the New York city employees' retirement system PURPOSE OR GENERAL IDEA OF BILL: To acknowledge that the state is the successor to the New York city off-track betting corporation ("NYCOTB") for purposes of its pension obligations and to provide for the state's payment of all past, present, and future liabilities of NYCOTB to the New York city employees' retire- ment system NYCERS"). SUMMARY OF SPECIFIC PROVISIONS: This bill would create a statutory mechanism for the payment by the state of the past, present, and future liabilities of NYCOTB to NYCERS, in recognition of the fact, as determined by the board of trustees of
2017-S8945 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8945 I N S E N A T E June 7, 2018 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to provide for the payment of the annual contributions owed and to be owed on behalf of the New York city off-track betting corpo- ration to the New York city employees' retirement system THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Statement of legislative findings and intent. The legisla- ture hereby finds that the state has a statutory and constitutional obligation to protect and fund the pension benefits of the former employees and retirees of the defunct New York city off-track betting corporation. The New York city off-track betting corporation is a public benefit corporation created pursuant to state law and is a participating employ- er in the New York city employees' retirement system. The pension bene- fits of the corporation's former employees and retirees are protected from impairment under article V, section 7 of the state constitution. In 2008, the state legislatively enhanced its role with respect to the New York city off-track betting corporation due to its financial diffi- culties, thus becoming its successor for purposes of assuming the statu- tory and constitutional obligation to make pension contributions. The corporation ceased operations in 2010 and has since failed to make annu- al contributions to the New York city employees' retirement system as required under the administrative code of the city of New York. Sections 13-130 and 13-638.2 of the administrative code of the city of New York provide that the employer liabilities of a public benefit corporation that participates in the New York city employees' retirement system, such as the New York city off-track betting corporation, are to be paid by the corporation or a successor. On March 8, 2018, the board of trustees of the New York city employees' retirement system adopted a resolution recognizing the state as a successor to the New York city off-track betting corporation and a responsible obligor with respect to its required contributions. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
(D) Senate District
2017-S8945A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A11169
- Current Committee:
- Senate Rules
- Law Section:
- New York City
- Versions Introduced in 2019-2020 Legislative Session:
-
S4913, A7718
2017-S8945A (ACTIVE) - Sponsor Memo
BILL NUMBER: S8945A SPONSOR: GOLDEN TITLE OF BILL: An act to provide for the payment of the annual contributions owed and to be owed on behalf of the New York city off- track betting corporation to the New York city employees' retirement system PURPOSE OR GENERAL IDEA OF BILL: To acknowledge that the state is the successor to the New York city off-track betting corporation ("NYCOTB") for purposes of its pension obligations and to provide for the state's payment of all past, present, and future liabilities of NYCOTB to the New York city employees' retire- ment system ("NYCERS"). SUMMARY OF SPECIFIC PROVISIONS: This bill would create a statutory mechanism for the payment by the state of the past, present, and future liabilities of NYCOTB to NYCERS, in recognition of the fact, as determined by the board of trustees of
2017-S8945A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8945--A I N S E N A T E June 7, 2018 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to provide for the payment of the annual contributions owed and to be owed on behalf of the New York city off-track betting corpo- ration to the New York city employees' retirement system THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Statement of legislative findings and intent. The legisla- ture hereby finds that the state has a statutory and constitutional obligation to protect and fund the pension benefits of the former employees and retirees of the defunct New York city off-track betting corporation. The New York city off-track betting corporation is a public benefit corporation created pursuant to state law and is a participating employ- er in the New York city employees' retirement system. The pension bene- fits of the corporation's former employees and retirees are protected from impairment under article V, section 7 of the state constitution. In 2008, the state legislatively enhanced its role with respect to the New York city off-track betting corporation due to its financial diffi- culties, thus becoming its successor for purposes of assuming the statu- tory and constitutional obligation to make pension contributions. The corporation ceased operations in 2010 and has since failed to make annu- al contributions to the New York city employees' retirement system as required under the administrative code of the city of New York. Sections 13-130 and 13-638.2 of the administrative code of the city of New York provide that the employer liabilities of a public benefit corporation that participates in the New York city employees' retirement system, such as the New York city off-track betting corporation, are to be paid by the corporation or a successor. On March 8, 2018, the board of trustees of the New York city employees' retirement system adopted a resolution recognizing the state as a successor to the New York city EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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