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A03607 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A3607
 
SPONSOR: Butler
  TITLE OF BILL: An act to amend the general municipal law, in relation to the creation and funding of other post-employment benefit reserve funds, and extend- ing to boards of cooperative educational services the authority to create and maintain workers' compensation reserve funds   PURPOSE OR GENERAL IDEA OF BILL: Extend to boards of cooperative educational services the authority to create a reserve fund to pay for post-retiree benefits.   SUMMARY OF SPECIFIC PROVISIONS: Section 1 adds section 6 to the general municipal law, which defines other post-employment benefit reserve funds. Section 2 amends Section 6-j of the general municipal law to add "board of cooperative educational services" to the list of entities currently authorized to establish a reserve fund: municipal corporations, school districts and fire districts. Section 3 provides the specifications for funds under section 6-s of the general municipal law. Section 4 contains the effective date.   JUSTIFICATION: There is currently no specific legislative authorization for a BOCES to set aside money to pay the accrued liability for retiree health insur- ance, as has been recommended by the Comptroller.   PRIOR LEGISLATIVE HISTORY: 2011: Referred to local governments 2012: Referred to local governments 2013: Referred to local governments 2014: Referred to local governments 2015: Referred to local governments 2016: Held for consideration in local governments   FISCAL IMPLICATIONS: None   EFFECTIVE DATE: This act shall take effect immediately.
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