S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10575
 
                           I N  A S S E M B L Y
 
                               July 6, 2022
                                ___________
 
 Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Griffin) --
   read once and referred to the Committee on Education
 
 AN ACT to amend the general municipal law, in  relation  to  authorizing
   boards of cooperative educational services in Suffolk and Nassau coun-
   ties to establish workers' compensation reserve funds
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The section heading and subdivisions  1,  3,  4  and  6  of
 section 6-j of the general municipal law, the section heading as amended
 by  chapter  704 of the laws of 1956, subdivisions 1 and 4 as amended by
 chapter 476 of the laws of 2018, subdivision 3 as amended by chapter 140
 of the laws of 1996 and subdivision 6 as amended by chapter 340  of  the
 laws  of  1973 and as renumbered by chapter 433 of the laws of 1987, are
 amended to read as follows:
   [Workmen's] WORKERS' compensation reserve fund.
   1. The governing board of any municipal corporation, school  district,
 BOARD OF COOPERATIVE EDUCATIONAL SERVICES IN SUFFOLK AND NASSAU COUNTIES
 or  fire  district, which is, or shall [hereafter] become a self-insurer
 under the provisions of subdivision four of section fifty of  the  work-
 ers'  compensation  law or section thirty of the volunteer firefighters'
 benefit law may establish a reserve fund to be  known  as  the  workers'
 compensation   reserve   fund  of  such  municipal  corporation,  school
 district, BOARD OF  COOPERATIVE  EDUCATIONAL  SERVICES  IN  SUFFOLK  AND
 NASSAU COUNTIES or fire district.
   3.  The  moneys  in  such  fund  shall be deposited and secured in the
 manner provided by section ten of this article.  The money in such  fund
 so  deposited  shall  be accounted for separate and apart from all other
 funds of the municipality, school district, BOARD OF COOPERATIVE  EDUCA-
 TIONAL  SERVICES IN SUFFOLK AND NASSAU COUNTIES or fire district, in the
 same manner as provided in subdivision ten  of  section  six-c  of  this
 article.  The governing board, or the chief fiscal officer of such muni-
 cipality,  school district, BOARD OF COOPERATIVE EDUCATIONAL SERVICES IN
 SUFFOLK AND NASSAU COUNTIES or fire district,  if  the  governing  board
 shall  delegate  such  duty to him OR HER, may invest the moneys in such
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD03676-03-2
 A. 10575                            2
 
 fund in the manner provided in  section  eleven  of  this  article.  Any
 interest  earned  or  capital gain realized on the money so deposited or
 invested shall accrue to and become part  of  such  fund.  The  separate
 identity  of such fund shall be maintained whether its assets consist of
 cash or investments or both.
   4. An expenditure shall be made from such fund only for the payment of
 compensation and benefits, medical, hospital or other expense authorized
 by article two of the workers' compensation law  and  by  the  volunteer
 firefighters'  benefit  law and expenses of administering the self-insu-
 rance program for such municipal corporation, school district, BOARD  OF
 COOPERATIVE  EDUCATIONAL SERVICES IN SUFFOLK AND NASSAU COUNTIES or fire
 district.
   6. If the municipal corporation, school district, BOARD OF COOPERATIVE
 EDUCATIONAL SERVICES IN SUFFOLK AND NASSAU  COUNTIES  or  fire  district
 shall, after the establishment of such fund, cease to be a self-insurer,
 the  moneys  remaining in such fund may be transferred to any other fund
 authorized by this chapter or section thirty-six  hundred  fifty-one  of
 the  education law only to the extent that the moneys in such fund shall
 exceed in amount the sum sufficient to pay all  expenditures  authorized
 in  [paragraph  numbered] SUBDIVISION four OF THIS SECTION, both accrued
 and contingent.
   § 2. This act shall take effect immediately.