Bill Text: NY A02144 | 2015-2016 | General Assembly | Introduced

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Bill Title: Authorizes a school district to transfer excess money in an employee benefit fund to the school's general fund to offset property tax increases.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2016-01-06 - referred to education [A02144 Detail]

Download: New_York-2015-A02144-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2144
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 15, 2015
                                      ___________
       Introduced  by M. of A. ENGLEBRIGHT, ZEBROWSKI, JAFFEE, HOOPER, SCHIMEL,
         OTIS -- Multi-Sponsored by -- M. of A. CORWIN, DUPREY, FINCH,  GIGLIO,
         KOLB,  MAGEE, RAIA, SEPULVEDA, THIELE -- read once and referred to the
         Committee on Education
       AN ACT to authorize certain school districts to elect to withdraw excess
         monies from the employee benefit accrued liability reserve  fund;  and
         to  repeal  subdivision  3 of section 33 of the general municipal law,
         relating to the examination of accounts
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Any  school district having monies in an employee benefit
    2  accrued liability reserve fund established pursuant to  section  6-p  of
    3  the general municipal law, on the effective date of this act, may make a
    4  one time election, by resolution of its governing board adopted no later
    5  than  one year from such effective date, to transfer up to fifty percent
    6  of the total of such monies or one hundred percent of the excess of such
    7  monies, whichever is greater,  into  the  general  fund  of  the  school
    8  district.  Such funds appropriated by this section shall only be used to
    9  mitigate an anticipated increase in school property taxes and/or restore
   10  anticipated or actual staff level reductions.
   11    S  2.  Subdivision  3  of  section  33 of the general municipal law is
   12  REPEALED.
   13    S 3. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06388-01-5