Bill Text: NY S00515 | 2017-2018 | General Assembly | Introduced

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Bill Title: Authorizes boards of cooperative educational services to establish workers' compensation reserve funds.

Sponsorship: Bipartisan Bill

Status: (Engrossed - Dead) 2018-06-04 - referred to local governments [S00515 Detail]

Download: New_York-2017-S00515-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                           515
                               2017-2018 Regular Sessions
                    IN SENATE
                                       (Prefiled)
                                     January 4, 2017
                                       ___________
        Introduced  by  Sens. YOUNG, CARLUCCI, VALESKY -- read twice and ordered
          printed, and when printed to be committed to the  Committee  on  Local
          Government
        AN  ACT  to  amend the general municipal law, in relation to authorizing
          boards of  cooperative  educational  services  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, 4 and 6 as amended
     4  by chapter 340 of the laws of 1973, subdivision 3 as amended by  chapter
     5  140  of  the laws of 1996 and subdivision 6 as renumbered by chapter 433
     6  of the laws of 1987, are amended to read as follows:
     7    [Workmen's] Workers' compensation reserve fund. 1. The governing board
     8  of any municipal corporation,  school  district,  board  of  cooperative
     9  educational  services  or  fire district, which is, or shall [hereafter]
    10  become a self-insurer  under  the  provisions  of  subdivision  four  of
    11  section  fifty[,  subdivision  four] of the [workmen's] workers' compen-
    12  sation law or section thirty of the volunteer [firemen's]  firefighters'
    13  benefit  law may establish a reserve fund to be known as the [workmen's]
    14  workers' compensation reserve fund of such municipal corporation, school
    15  district, board of cooperative educational services or fire district.
    16    3. The moneys in such fund shall  be  deposited  and  secured  in  the
    17  manner  provided by section ten of this article.  The money in such fund
    18  so deposited shall be accounted for separate and apart  from  all  other
    19  funds  of the municipality, school district, board of cooperative educa-
    20  tional services or fire district, in the  same  manner  as  provided  in
    21  subdivision  ten of section six-c of this article.  The governing board,
    22  or the chief fiscal officer of such municipality, school district, board
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05889-01-7
        S. 515                              2
     1  of cooperative educational services or fire district, if  the  governing
     2  board  shall  delegate such duty to him or her, may invest the moneys in
     3  such fund in the manner provided in section eleven of this article.  Any
     4  interest  earned  or  capital gain realized on the money so deposited or
     5  invested shall accrue to and become part  of  such  fund.  The  separate
     6  identity  of such fund shall be maintained whether its assets consist of
     7  cash or investments or both.
     8    4. An expenditure shall be made from such fund only for the payment of
     9  compensation and benefits, medical, hospital or other expense authorized
    10  by article two of the [workmen's] workers' compensation law and  by  the
    11  volunteer [firemen's] firefighters' benefit law and expenses of adminis-
    12  tering the self-insurance program for such municipal corporation, school
    13  district, board of cooperative educational services or fire district.
    14    6. If the municipal corporation, school district, board of cooperative
    15  educational  services or fire district shall, after the establishment of
    16  such fund, cease to be a self-insurer, the moneys remaining in such fund
    17  may be transferred to any other  fund  authorized  by  this  chapter  or
    18  section  thirty-six  hundred  fifty-one of the education law only to the
    19  extent that the moneys in such fund  shall  exceed  in  amount  the  sum
    20  sufficient  to  pay  all expenditures authorized in [paragraph numbered]
    21  subdivision four of this section, both accrued and contingent.
    22    § 2. This act shall take effect immediately.