Bill Text: NY A08844 | 2017-2018 | General Assembly | Introduced
Bill Title: Grants the Bedford central school district the authority to establish insurance reserve funds.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2018-05-07 - REFERRED TO LOCAL GOVERNMENT [A08844 Detail]
Download: New_York-2017-A08844-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8844 2017-2018 Regular Sessions IN ASSEMBLY December 22, 2017 ___________ Introduced by M. of A. BUCHWALD -- read once and referred to the Commit- tee on Education AN ACT to amend the general municipal law, in relation to insurance reserve funds for the Bedford central school district 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 reserve19funds in compliance with this section and article seventy-four of the20education law and], the Minisink Valley central school district, and the 21 Bedford central school district may establish insurance reserve funds in 22 compliance with this section and article seventy-four of the education 23 law and such school districts may make expenditures in compliance with 24 this section and article seventy-four of the education law from such 25 reserve fund for any loss, claim, action or judgment for which the EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13690-01-7A. 8844 2 1 school districts are authorized or required to purchase or maintain 2 insurance for the kinds of risks for which insurance is authorized 3 pursuant to paragraph three of subsection (a) of section one thousand 4 one hundred thirteen of the insurance law. 5 § 2. This act shall take effect immediately.