Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 05, 2010 |
referred to local governments |
Assembly Bill A10144
2009-2010 Legislative Session
Sponsored By
ENGLEBRIGHT
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-A10144 (ACTIVE) - Details
2009-A10144 (ACTIVE) - Sponsor Memo
BILL NUMBER:A10144 TITLE OF BILL: An act to amend the general municipal law, in relation to the employee benefit accrued liability reserve fund PURPOSE OR GENERAL IDEA OF BILL: To allow school districts and other municipal corporations to reduce real property taxes by utilizing excess funds held in Employee Benefit Accrued Liability Reserve funds estab- lished by Section 6-p of the General Municipal Law. SUMMARY OF SPECIFIC PROVISIONS: After audit and certification by the comptroller, that there are funds held in a reserve fund established pursuant to Section 6-p of the General Municipal Law in excess of those required to meet liabilities, a governing board may use those excess funds to reduce real property taxes and/or voter approved capital projects. EXISTING LAW: The reserve fund established by Section 6-p of the General Municipal Law restricts expenditures solely to compensated absences liabilities. There are no provisions in the present statute to deal with fund balances that exceed the amount needed to satisfy liabilities. JUSTIFICATION: The Office of the Comptroller has released an audit indi- cating that 251 school districts across the State could have "as much as $407 million more in these reserve funds than they need to pay for compensated absence liabilities". These excess funds are "stranded" in
2009-A10144 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10144 I N A S S E M B L Y March 5, 2010 ___________ Introduced by M. of A. ENGLEBRIGHT -- read once and referred to the Committee on Local Governments AN ACT to amend the general municipal law, in relation to the employee benefit accrued liability reserve fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 6-p of the general municipal law is amended by adding a new subdivision 10 to read as follows: 10. IF AFTER AUDIT AND CERTIFICATION BY THE STATE COMPTROLLER THAT THERE ARE FUNDS IN EXCESS OF THOSE REQUIRED TO SATISFY LIABILITIES, THOSE EXCESS FUNDS MAY BE TRANSFERRED TO THE GENERAL FUND FOR THE PURPOSE OF REAL PROPERTY TAX REDUCTION AND/OR VOTER APPROVED CAPITAL PROJECTS. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07848-04-0
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