Bill Text: NY S02520 | 2009-2010 | General Assembly | Amended

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Bill Title: Relates to the employee benefit accrued liability reserve fund.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2010-01-06 - REFERRED TO LOCAL GOVERNMENT [S02520 Detail]

Download: New_York-2009-S02520-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        2520--A
                              2009-2010 Regular Sessions
                                   I N  S E N A T E
                                   February 23, 2009
                                      ___________
       Introduced  by  Sens.  LAVALLE,  FUSCHILLO, HANNON, O. JOHNSON, YOUNG --
         read twice and ordered printed, and when printed to  be  committed  to
         the  Committee  on  Local  Government  --  committee  discharged, bill
         amended, ordered reprinted as amended and recommitted to said  commit-
         tee
       AN  ACT  to amend the general municipal law, in relation to the employee
         benefit accrued liability reserve fund
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section  6-p  of  the general municipal law is amended by
    2  adding a new subdivision 10 to read as follows:
    3    10. IF AFTER AUDIT AND CERTIFICATION BY  THE  STATE  COMPTROLLER  THAT
    4  THERE  ARE  FUNDS  IN  EXCESS  OF THOSE REQUIRED TO SATISFY LIABILITIES,
    5  THOSE EXCESS FUNDS MAY BE  TRANSFERRED  TO  THE  GENERAL  FUND  FOR  THE
    6  PURPOSE  OF  REAL  PROPERTY  TAX REDUCTION AND/OR VOTER APPROVED CAPITAL
    7  PROJECTS.
    8    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07848-03-9