Bill Text: NY S01964 | 2021-2022 | General Assembly | Introduced


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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2021-01-16 - REFERRED TO LOCAL GOVERNMENT [S01964 Detail]

Download: New_York-2021-S01964-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          1964

                               2021-2022 Regular Sessions

                    IN SENATE

                                    January 16, 2021
                                       ___________

        Introduced  by  Sen.  BROOKS -- 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 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 or fire district, which is, or
    11  shall [hereafter] become a self-insurer under the provisions of subdivi-
    12  sion four of section fifty of the workers' compensation law  or  section
    13  thirty  of  the  volunteer  firefighters'  benefit  law  may establish a
    14  reserve fund to be known as the workers' compensation  reserve  fund  of
    15  such municipal corporation, school district, board of cooperative educa-
    16  tional services or fire district.
    17    3.  The  moneys  in  such  fund  shall be deposited and secured in the
    18  manner provided by section ten of this article.  The money in such  fund
    19  so  deposited  shall  be accounted for separate and apart from all other
    20  funds of the municipality, school district, board of cooperative  educa-
    21  tional  services  or  fire  district,  in the same manner as provided in
    22  subdivision ten of section six-c of this article.  The governing  board,
    23  or the chief fiscal officer of such municipality, school district, board
    24  of  cooperative  educational services or fire district, if the governing

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03676-01-1

        S. 1964                             2

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