Bill Text: NY A10575 | 2021-2022 | General Assembly | Introduced

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Bill Title: Authorizes boards of cooperative educational services in Suffolk and Nassau counties to establish workers' compensation reserve funds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-07-06 - referred to education [A10575 Detail]

Download: New_York-2021-A10575-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10575

                   IN ASSEMBLY

                                      July 6, 2022
                                       ___________

        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Griffin) --
          read once and referred to the Committee on Education

        AN ACT to amend the general municipal law, in  relation  to  authorizing
          boards of cooperative educational services in Suffolk and Nassau coun-
          ties to establish workers' compensation reserve funds

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The section heading and subdivisions  1,  3,  4  and  6  of
     2  section 6-j of the general municipal law, the section heading as amended
     3  by  chapter  704 of the laws of 1956, subdivisions 1 and 4 as amended by
     4  chapter 476 of the laws of 2018, subdivision 3 as amended by chapter 140
     5  of the laws of 1996 and subdivision 6 as amended by chapter 340  of  the
     6  laws  of  1973 and as renumbered by chapter 433 of the laws of 1987, are
     7  amended to read as follows:
     8    [Workmen's] Workers' compensation reserve fund.
     9    1. The governing board of any municipal corporation, school  district,
    10  board of cooperative educational services in Suffolk and Nassau counties
    11  or  fire  district, which is, or shall [hereafter] become a self-insurer
    12  under the provisions of subdivision four of section fifty of  the  work-
    13  ers'  compensation  law or section thirty of the volunteer firefighters'
    14  benefit law may establish a reserve fund to be  known  as  the  workers'
    15  compensation   reserve   fund  of  such  municipal  corporation,  school
    16  district, board of  cooperative  educational  services  in  Suffolk  and
    17  Nassau counties or fire district.
    18    3.  The  moneys  in  such  fund  shall be deposited and secured in the
    19  manner provided by section ten of this article.  The money in such  fund
    20  so  deposited  shall  be accounted for separate and apart from all other
    21  funds of the municipality, school district, board of cooperative  educa-
    22  tional  services in Suffolk and Nassau counties or fire district, in the
    23  same manner as provided in subdivision ten  of  section  six-c  of  this
    24  article.  The governing board, or the chief fiscal officer of such muni-
    25  cipality,  school district, board of cooperative educational services in
    26  Suffolk and Nassau counties or fire district,  if  the  governing  board
    27  shall  delegate  such  duty to him or her, may invest the moneys in such

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03676-03-2
        A. 10575                            2

     1  fund in the manner provided in  section  eleven  of  this  article.  Any
     2  interest  earned  or  capital gain realized on the money so deposited or
     3  invested shall accrue to and become part  of  such  fund.  The  separate
     4  identity  of such fund shall be maintained whether its assets consist of
     5  cash or investments or both.
     6    4. An expenditure shall be made from such fund only for the payment of
     7  compensation and benefits, medical, hospital or other expense authorized
     8  by article two of the workers' compensation law  and  by  the  volunteer
     9  firefighters'  benefit  law and expenses of administering the self-insu-
    10  rance program for such municipal corporation, school district, board  of
    11  cooperative  educational services in Suffolk and Nassau counties or fire
    12  district.
    13    6. If the municipal corporation, school district, board of cooperative
    14  educational services in Suffolk and Nassau  counties  or  fire  district
    15  shall, after the establishment of such fund, cease to be a self-insurer,
    16  the  moneys  remaining in such fund may be transferred to any other fund
    17  authorized by this chapter or section thirty-six  hundred  fifty-one  of
    18  the  education law only to the extent that the moneys in such fund shall
    19  exceed in amount the sum sufficient to pay all  expenditures  authorized
    20  in  [paragraph  numbered] subdivision four of this section, both accrued
    21  and contingent.
    22    § 2. This act shall take effect immediately.