Senate Bill S7783

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7783
 
                             I N  S E N A T E
 
                             February 20, 2020
                                ___________
 
 Introduced  by  Sen.  BROOKS -- 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  authorizing
   boards  of  cooperative  educational  services  to  establish workers'
   compensation reserve funds
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  section  heading  and  subdivisions 1, 3, 4 and 6 of
 section 6-j of the general municipal law, the section heading as amended
 by chapter 704 of the laws of 1956, subdivisions 1 and 4 as  amended  by
 chapter 476 of the laws of 2018, subdivision 3 as amended by chapter 140
 of  the  laws of 1996 and subdivision 6 as amended by chapter 340 of the
 laws of 1973 and as renumbered by chapter 433 of the laws of  1987,  are
 amended to read as follows:
   [Workmen's] WORKERS' compensation reserve fund.
   1.  The governing board of any municipal corporation, school district,
 BOARD OF COOPERATIVE EDUCATIONAL SERVICES or fire district, which is, or
 shall [hereafter] become a self-insurer under the provisions of subdivi-
 sion four of section fifty of the workers' compensation law  or  section
 thirty  of  the  volunteer  firefighters'  benefit  law  may establish a
 reserve fund to be known as the workers' compensation  reserve  fund  of
 such municipal corporation, school district, BOARD OF COOPERATIVE EDUCA-
 TIONAL SERVICES or fire district.
   3.  The  moneys  in  such  fund  shall be deposited and secured in the
 manner provided by section ten of this article.  The money in such  fund
 so  deposited  shall  be accounted for separate and apart from all other
 funds of the municipality, school district, BOARD OF COOPERATIVE  EDUCA-
 TIONAL  SERVICES  or  fire  district,  in the same manner as provided in
 subdivision ten of section six-c of this article.  The governing  board,
 or the chief fiscal officer of such municipality, school district, BOARD
 OF  COOPERATIVE  EDUCATIONAL SERVICES or fire district, if the governing
 board shall delegate such duty to him OR HER, may invest the  moneys  in
 such  fund in the manner provided in section eleven of this article. Any
 interest earned or capital gain realized on the money  so  deposited  or
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD03082-02-9

 S. 7783                             2
 
 invested  shall  accrue  to  and  become part of such fund. The separate
 identity of such fund shall be maintained whether its assets consist  of
 cash or investments or both.
   4. An expenditure shall be made from such fund only for the payment of
 compensation and benefits, medical, hospital or other expense authorized
 by  article  two  of  the workers' compensation law and by the volunteer
 firefighters' benefit law and expenses of administering  the  self-insu-
 rance  program for such municipal corporation, school district, BOARD OF
 COOPERATIVE EDUCATIONAL SERVICES or fire district.
   6. If the municipal corporation, school district, BOARD OF COOPERATIVE
 EDUCATIONAL SERVICES or fire district shall, after the establishment  of
 such fund, cease to be a self-insurer, the moneys remaining in such fund
 may  be  transferred  to  any  other  fund authorized by this chapter or
 section thirty-six hundred fifty-one of the education law  only  to  the
 extent  that  the  moneys  in  such  fund shall exceed in amount the sum
 sufficient to pay all expenditures authorized  in  [paragraph  numbered]
 SUBDIVISION four OF THIS SECTION, both accrued and contingent.
   § 2. This act shall take effect immediately.