Assembly Bill A505

Signed By Governor
2019-2020 Legislative Session

Relates to insurance reserve funds of certain school districts

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor

  • 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

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2019-A505 (ACTIVE) - Details

See Senate Version of this Bill:
S948
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L
Versions Introduced in 2017-2018 Legislative Session:
A8738, S7055

2019-A505 (ACTIVE) - Summary

Allows the Ithaca city school district to establish insurance reserve funds.

2019-A505 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    505
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced by M. of A. LIFTON -- read once and referred to the Committee
   on Education
 
 AN  ACT  to  amend  the  general municipal law, in relation to insurance
   reserve funds of certain school districts
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 2 of section 6-n of the gener-
 al  municipal  law, as separately amended by chapters 414 and 416 of the
 laws of 2016, is amended to read as follows:
   (a) The governing board of any municipal corporation may  establish  a
 reserve  fund  to  be  known  as  the  insurance  reserve fund. Upon the
 creation of the fund, the municipality may make  expenditures  from  the
 fund  for  any  loss,  claim, action or judgment for which the municipal
 corporation is authorized or required to purchase or maintain insurance,
 except those kinds of risks for which insurance is  authorized  pursuant
 to  paragraph  one,  two,  three, fifteen, sixteen, seventeen, eighteen,
 twenty-two or twenty-three of subsection (a) of section one thousand one
 hundred thirteen of the insurance  law,  or  for  payments  in  lieu  of
 contributions under article eighteen of the labor law; provided however,
 that  no  municipality  shall make an expenditure from such fund for any
 loss, claim, action or judgment for which the municipal corporation  has
 established  a  reserve fund under any other provision of law; provided,
 further that the Scarsdale union free school district [and] , the Vernon
 Verona Sherrill central school district [may establish insurance reserve
 funds in compliance with this section and article  seventy-four  of  the
 education law and] the Minisink Valley central school district , AND THE
 ITHACA  CITY  SCHOOL  DISTRICT  may establish insurance reserve funds in
 compliance with this section and article seventy-four of  the  education
 law  and  such school districts may make expenditures in compliance with
 this section and article seventy-four of the  education  law  from  such
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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