Bill Text: NY A09412 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 9412 (Prior Session Legislation)

Introduced

Bill Title: Grants the Scarsdale union free school district and Vernon Verona Sherrill central school district the authority to establish insurance reserve funds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2016-11-04 - signed chap.414 [A09412 Detail]

Download: New_York-2015-A09412-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          9412
                   IN ASSEMBLY
                                      March 2, 2016
                                       ___________
        Introduced by M. of A. BRINDISI -- read once and referred to the Commit-
          tee on Education
        AN  ACT  to  amend  the  general municipal law and the education 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  amended  by chapter 433 of the laws of 2014, is
     3  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 [in the case of] the Scarsdale union free school district[,
    18  an insurance reserve fund may be  established]  and  the  Vernon  Verona
    19  Sherrill  central  school district may establish insurance reserve funds
    20  in compliance with this section and article seventy-four of  the  educa-
    21  tion  law  and such school [district] districts may make expenditures in
    22  compliance with this section and article seventy-four of  the  education
    23  law  from  such reserve fund for any loss, claim, action or judgment for
    24  which the school [district is] districts are authorized or  required  to
    25  purchase  or  maintain insurance for the kinds of risks for which insur-
    26  ance is authorized pursuant to paragraph  three  of  subsection  (a)  of
    27  section one thousand one hundred thirteen of the insurance law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14421-01-6