Assembly Bill A10496

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10496
 
                           I N  A S S E M B L Y
 
                               March 6, 2026
                                ___________
 
 Introduced  by M. of A. GRIFFIN -- read once and referred to the Commit-
   tee on Education
 
 AN ACT to amend the general municipal law, in  relation  to  authorizing
   BOCES to establish a workers' compensation reserve fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 6-j of the general municipal  law,  as  amended  by
 chapter  704  of  the  laws  of 1956, subdivisions 1 and 4 as amended by
 chapter 476 of the laws of 2018, subdivisions 2  and  6  as  amended  by
 chapter 340 of the laws of 1973, subdivision 3 as amended by chapter 140
 of  the  laws  of  1996, and subdivision 5 as added and subdivision 6 as
 renumbered by chapter 433 of the laws of 1987, is  amended  to  read  as
 follows:
   §  6-j. [Workmen's] WORKERS' compensation reserve fund. 1. The govern-
 ing board of any  municipal  corporation,  school  district  [or],  fire
 district  OR  BOARD  OF  COOPERATIVE  EDUCATIONAL SERVICES, 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 [or], fire district OR BOARD
 OF COOPERATIVE EDUCATIONAL SERVICES.
   2. There may be paid into any such fund (a) such  amounts  as  may  be
 provided  therefor  by budgetary appropriations; and (b) such other sums
 as may be legally appropriated.
   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 [or], fire district OR BOARD
 OF COOPERATIVE EDUCATIONAL SERVICES, 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  [or],
 fire  district  OR  BOARD  OF  COOPERATIVE  EDUCATIONAL SERVICES, if the
 governing board shall delegate such duty  to  [him]  SUCH  CHIEF  FISCAL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD15049-01-6
 A. 10496                            2
 
 OFFICER,  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 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 [or], fire
 district OR BOARD OF COOPERATIVE EDUCATIONAL SERVICES.
   5. If at the end of any fiscal year the  moneys  in  such  fund  shall
 exceed  the  amounts required to be paid pursuant to subdivision four of
 this section plus any additional amount  required  to  pay  all  pending
 claims,  the  governing  board  of  the  municipal  corporation,  school
 district, board of cooperative educational  services  or  fire  district
 may,  within  sixty days of the close of such fiscal year, elect to: (a)
 transfer said excess, or any part thereof, to  any  fund  authorized  by
 this  article  or  section thirty-six hundred fifty-one of the education
 law; and/or (b) apply said excess, or any part  thereof  to  the  budget
 appropriation of the next succeeding fiscal year.
   6.  If  the municipal corporation, school district [or], fire district
 OR BOARD OF COOPERATIVE EDUCATIONAL SERVICES shall, after the establish-
 ment 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 chap-
 ter 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.