Bill Text: NY S04481 | 2021-2022 | General Assembly | Introduced

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Bill Title: Grants the Carmel central school district the authority to establish insurance reserve funds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2021-07-16 - SIGNED CHAP.290 [S04481 Detail]

Download: New_York-2021-S04481-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4481

                               2021-2022 Regular Sessions

                    IN SENATE

                                    February 5, 2021
                                       ___________

        Introduced  by Sen. HARCKHAM -- 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  insurance
          reserve funds for the Carmel central school district

          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 246 of  the  laws  of  2020,  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  the  Scarsdale union free school district, the Mamaroneck
    18  union free school district, the Minisink Valley central school district,
    19  the Vernon Verona Sherrill central  school  district,  the  Ithaca  city
    20  school  district,  the  Kenmore-Town  of  Tonawanda  union  free  school
    21  district, the Bedford central school district, the Grand Island  central
    22  school  district,  the Tonawanda city school district, the enlarged city
    23  school district of Middletown, the Frontier central school district, and
    24  the Binghamton city  school  district  and  the  Carmel  central  school
    25  district  may  establish insurance reserve funds in compliance with this

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03953-01-1
        S. 4481                             2

     1  section and article seventy-four of the education law  and  such  school
     2  districts  may  make  expenditures  in  compliance with this section and
     3  article seventy-four of the education law from such reserve fund for any
     4  loss,  claim,  action  or  judgment  for  which the school districts are
     5  authorized or required to purchase or maintain insurance for  the  kinds
     6  of  risks  for which insurance is authorized pursuant to paragraph three
     7  of subsection (a) of section one thousand one hundred  thirteen  of  the
     8  insurance law.
     9    § 2. This act shall take effect immediately.