Bill Text: NY S08057 | 2019-2020 | General Assembly | Introduced

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Bill Title: Authorizes the Binghamton city school district to establish an insurance reserve fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2020-10-07 - SIGNED CHAP.246 [S08057 Detail]

Download: New_York-2019-S08057-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8057

                    IN SENATE

                                     March 13, 2020
                                       ___________

        Introduced  by  Sen.  AKSHAR -- 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 permitting the
          Binghamton city school district to establish an insurance reserve fund

          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 separately amended by chapters 318, 321, 325, 342,
     3  499, 509, 510 and 551 of the  laws  of  2019,  is  amended  to  read  as
     4  follows:
     5    (a)  The  governing board of any municipal corporation may establish a
     6  reserve fund to be  known  as  the  insurance  reserve  fund.  Upon  the
     7  creation  of  the  fund, the municipality may make expenditures from the
     8  fund for any loss, claim, action or judgment  for  which  the  municipal
     9  corporation is authorized or required to purchase or maintain insurance,
    10  except  those  kinds of risks for which insurance is authorized pursuant
    11  to paragraph one, two, three,  fifteen,  sixteen,  seventeen,  eighteen,
    12  twenty-two or twenty-three of subsection (a) of section one thousand one
    13  hundred  thirteen  of  the  insurance  law,  or  for payments in lieu of
    14  contributions under article eighteen of the labor law; provided however,
    15  that no municipality shall make an expenditure from such  fund  for  any
    16  loss,  claim, action or judgment for which the municipal corporation has
    17  established a reserve fund under any other provision of  law;  provided,
    18  further  that  the  Scarsdale union free school district, the Mamaroneck
    19  union free school district, the Minisink Valley central school district,
    20  the Vernon Verona Sherrill central school  district,  [and]  the  Ithaca
    21  city  school  district  [and],  the Kenmore-Town of Tonawanda union free
    22  school district, [and] the Bedford central school  district  [and],  the
    23  Grand  Island  central  school district [and], the Tonawanda city school
    24  district [and], the enlarged city school district of  Middletown  [and],
    25  the  Frontier  central  school  district, and the Binghamton city school
    26  district may establish insurance reserve funds in compliance  with  this
    27  section  and  article  seventy-four of the education law and such school
    28  districts may make expenditures in  compliance  with  this  section  and

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15633-01-0
        S. 8057                             2

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