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S01733 Summary:

S01733 Actions:

S01733 Committee Votes:

S01733 Floor Votes:

S01733 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1733
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                    January 16, 2019
                                       ___________
 
        Introduced  by  Sen.  JACOBS -- 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
          Grand Island central 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 414 and 416 of the
     3  laws of 2016, is 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 [and], the  Vernon
    18  Verona Sherrill central school district [may establish insurance reserve
    19  funds  in  compliance  with this section and article seventy-four of the
    20  education law and], the Minisink Valley central school district and  the
    21  Grand  Island  central  school  district may establish insurance reserve
    22  funds in compliance with this section and article  seventy-four  of  the
    23  education law and such school districts may make expenditures in compli-
    24  ance  with  this  section  and article seventy-four of the education law
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05804-01-9
        S. 1733                             2
 
     1  from such reserve fund for any loss, claim, action or judgment for which
     2  the school districts are authorized or required to purchase or  maintain
     3  insurance  for  the  kinds  of  risks  for which insurance is authorized
     4  pursuant  to  paragraph  three of subsection (a) of section one thousand
     5  one hundred thirteen of the insurance law.
     6    § 2. This act shall take effect immediately.