Bill Text: NY A08738 | 2017-2018 | General Assembly | Introduced

New York Assembly Bill 8738 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Allows the Ithaca city school district to establish insurance reserve funds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2018-06-20 - REFERRED TO RULES [A08738 Detail]

Download: New_York-2017-A08738-Introduced.html

                STATE OF NEW YORK
        ________________________________________________________________________
                                          8738
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    October 20, 2017
                                       ___________
        Introduced by M. of A. LIFTON -- read once and referred to the Committee
          on Education
        AN  ACT  to  amend  the  general municipal law, in relation to insurance
          reserve funds of certain school districts
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (a) of subdivision 2 of section 6-n of the gener-
     2  al  municipal  law, as separately amended by chapters 414 and 416 of the
     3  laws of 2016, is amended to read as follows:
     4    (a) The governing board of any municipal corporation may  establish  a
     5  reserve  fund  to  be  known  as  the  insurance  reserve fund. Upon the
     6  creation of the fund, the municipality may make  expenditures  from  the
     7  fund  for  any  loss,  claim, action or judgment for which the municipal
     8  corporation is authorized or required to purchase or maintain insurance,
     9  except those kinds of risks for which insurance is  authorized  pursuant
    10  to  paragraph  one,  two,  three, fifteen, sixteen, seventeen, eighteen,
    11  twenty-two or twenty-three of subsection (a) of section one thousand one
    12  hundred thirteen of the insurance  law,  or  for  payments  in  lieu  of
    13  contributions under article eighteen of the labor law; provided however,
    14  that  no  municipality  shall make an expenditure from such fund for any
    15  loss, claim, action or judgment for which the municipal corporation  has
    16  established  a  reserve fund under any other provision of law; provided,
    17  further that the Scarsdale union free school  district  and  the  Vernon
    18  Verona  Sherrill central school district may establish insurance reserve
    19  funds in compliance with this section and article  seventy-four  of  the
    20  education law and the Minisink Valley central school district may estab-
    21  lish insurance reserve funds in compliance with this section and article
    22  seventy-four  of  the  education law and the Ithaca City school district
    23  may establish insurance reserve funds in compliance  with  this  section
    24  and  article seventy-four of the education law and such school districts
    25  may make expenditures in compliance with this section and article seven-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13396-01-7

        A. 8738                             2
     1  ty-four of the education law from such reserve fund for any loss, claim,
     2  action or judgment for which the  school  districts  are  authorized  or
     3  required  to  purchase  or maintain insurance for the kinds of risks for
     4  which  insurance is authorized pursuant to paragraph three of subsection
     5  (a) of section one thousand one hundred thirteen of the insurance law.
     6    § 2. This act shall take effect immediately.