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Sponsors
11 Co-sponsors
History
- Referred to education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Authorizes certain school districts to elect to withdraw excess monies from the employee benefit accrued liability reserve fund and transfer such funds to the general fund of the school district; repealer
In Senate Committee · Education · Sponsor Jeffrey D. Klein
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10319
Title of bill
An act authorizing certain school districts to elect to withdraw excess monies from the employee benefit accrued liability reserve fund; and to repeal certain provisions of the general municipal law, relating to the examination of accounts
Purpose or general idea of bill
To allow those school districts that have reserve funds to access them.
Summary of specific provisions
Section one allows school districts with excess monies in an employee benefit accrued liability reserve (EBALR) to transfer all or part of these excess funds into a general fund of the school district. Section two repeals Subdivision 3 of section 33 of the general municipal law is repealed.
Justification
School districts have held on to EBALR, funds saving them for an emergency. THIS FISCAL CRISIS IS AN EMERGENCY. Not all districts have reserve funds but for those with the capability this bill will allow them to access those funds during this fiscal crisis.
During the testimony of the New York State School Boards Association to the Joint Legislative Fiscal Committees on the 2010-2011 Executive Budg- et, it was stated very clearly that access to these funds would be a great asset and that they strongly support the proposal to allow districts to withdraw funds in order to maintain educational programming in the 2010-11 school year. Given the severity of this fiscal crisis, making use of these funds to offset program cuts and higher local taxes is of paramount importance.
Comptroller DiNapoli has also expressed his support for allowing school districts to use this excess money to benefit taxpayers, and has called on the legislature to adopt such a change. This bill has been written in conjunction with his, office whereby school districts that have set aside money will be able to access their money without going through the New York State Comptroller's office. Comptroller DiNapoli believes that since it is their money, they should be able to access it. This legis- lation would allow the School Districts of New York State with excess funds in their EBALR accounts to use those funds to help support schools and relieve the burden placed on the taxpayers of New York State.
Prior legislative history
New Bill
Fiscal implications
None
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.