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S08398 Summary:

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S08398 Committee Votes:

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S08398 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8398
 
                    IN SENATE
 
                                    January 26, 2024
                                       ___________
 
        Introduced  by Sen. GALLIVAN -- 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  authorizing
          the Iroquois 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 589 and 598  of  the
     3  laws of 2023, 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, 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, the
    24  Owego Apalachin  central  school  district,  the  Maine-Endwell  central
    25  school district, the Binghamton city school district, the Candor central
    26  school  district,  the  Cleveland  Hill  union free school district, the
    27  Depew union free school district, the Iroquois central school  district,
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14051-01-4
        S. 8398                             2
 
     1  the  Liverpool  central school district, the Auburn enlarged city school
     2  district, the Carmel central school district, and the Canastota  central
     3  school district may establish insurance reserve funds in compliance with
     4  this  section  and  article  seventy-four  of the education law and such
     5  school districts may make expenditures in compliance with  this  section
     6  and article seventy-four of the education law from such reserve fund for
     7  any  loss,  claim, action or judgment for which the school districts are
     8  authorized or required to purchase or maintain insurance for  the  kinds
     9  of  risks  for which insurance is authorized pursuant to paragraph three
    10  of subsection (a) of section one thousand one hundred  thirteen  of  the
    11  insurance law.
    12    § 2. This act shall take effect immediately.