Assembly Bill A4437

2019-2020 Legislative Session

Authorizes a school district to transfer excess money in an employee benefit fund to the school's general fund to offset property tax increases; repealer

download bill text pdf

Sponsored By

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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2019-A4437 (ACTIVE) - Details

Current Committee:
Assembly Education
Law Section:
General Municipal Law
Laws Affected:
Rpld §33 sub 3, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2009-2010: A10990
2011-2012: A6050
2013-2014: A5965
2015-2016: A2144
2017-2018: A5589

2019-A4437 (ACTIVE) - Summary

Authorizes a school district to transfer excess money in an employee benefit fund to the school's general fund to offset property tax increases.

2019-A4437 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4437
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2019
                                ___________
 
 Introduced  by  M.  of A. ENGLEBRIGHT, ZEBROWSKI, JAFFEE, OTIS -- Multi-
   Sponsored by -- M. of A. FINCH, GIGLIO, KOLB,  RAIA,  THIELE  --  read
   once and referred to the Committee on Education
 
 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.
                                                            LBD08816-01-9

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