senate Bill S2067B

2019-2020 Legislative Session

Authorizes school districts to establish an insurance reserve fund

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Local Government Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 17, 2019 print number 2067b
May 17, 2019 amend and recommit to local government
Feb 05, 2019 print number 2067a
Feb 05, 2019 amend (t) and recommit to local government
Jan 22, 2019 referred to local government

S2067 - Details

See Assembly Version of this Bill:
A114
Current Committee:
Senate Local Government
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L
Versions Introduced in 2017-2018 Legislative Session:
A10145

S2067 - Summary

Authorizes school districts to establish an insurance reserve fund in an amount and manner determined by a qualified and independent actuary certified by the American Academy of Actuaries to be reasonable and necessary.

S2067 - Sponsor Memo

S2067 - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2067

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 22, 2019
                               ___________

Introduced  by  Sen.  JORDAN -- 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
  school  districts  to establish an insurance reserve fund in an amount
  and manner determined by a qualified and independent actuary certified
  by the American Academy of Actuaries to be  suitable,  reasonable  and
  necessary

  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  AND  ANY
OTHER  SCHOOL  DISTRICT may establish insurance reserve funds in compli-
ance with this section and article seventy-four of the education law, IN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

S2067A - Details

See Assembly Version of this Bill:
A114
Current Committee:
Senate Local Government
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L
Versions Introduced in 2017-2018 Legislative Session:
A10145

S2067A - Summary

Authorizes school districts to establish an insurance reserve fund in an amount and manner determined by a qualified and independent actuary certified by the American Academy of Actuaries to be reasonable and necessary.

S2067A - Sponsor Memo

S2067A - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 2067--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 22, 2019
                               ___________

Introduced  by  Sen.  JORDAN -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the general municipal law, in  relation  to  authorizing
  all school districts to establish reserve funds

  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] ANY school  district  may
establish  insurance  reserve  funds in compliance with this section and
article seventy-four of the education  law,  IN  AN  AMOUNT  AND  MANNER
DETERMINED BY A QUALIFIED AND INDEPENDENT ACTUARY CERTIFIED BY THE AMER-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

S2067B (ACTIVE) - Details

See Assembly Version of this Bill:
A114
Current Committee:
Senate Local Government
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L
Versions Introduced in 2017-2018 Legislative Session:
A10145

S2067B (ACTIVE) - Summary

Authorizes school districts to establish an insurance reserve fund in an amount and manner determined by a qualified and independent actuary certified by the American Academy of Actuaries to be reasonable and necessary.

S2067B (ACTIVE) - Sponsor Memo

S2067B (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 2067--B

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 22, 2019
                               ___________

Introduced by Sens. JORDAN, AKSHAR, AMEDORE, ANTONACCI, BOYLE, GALLIVAN,
  RANZENHOFER,  TEDISCO  --  read  twice  and  ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee -- committee discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

AN  ACT  to  amend the general municipal law, in relation to authorizing
  all school districts to establish reserve funds

  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 AND ANY OTHER school
district may establish insurance reserve funds in compliance  with  this

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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