What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Referred to education
- 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 the Horseheads central school district to use excess employee benefit accrued liability reserve funds for certain purposes
In Assembly Committee · Education · Sponsor Thomas F. O'Mara
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act in relation to authorizing the Horseheads central school district to use excess employee benefit accrued liability reserve funds for certain purposes
Purpose
To allow the Horseheads central school district to use the excess employee benefit fund for certain purposes.
Summary of provisions
This bill authorizes the Horseheads central school district to uses excess EBALR funds to retire short term and long term debt of the school district, pay one time non-recurring expenses and/or establish a tax rebate program to return such excess EBALR funds to the taxpayers of the school district.
Justification
In August of 2008, the Office of the State Comptroller, Division of Local Government and School Accountability provided the results of an audit of the Employee Benefit Accrued Liability Reserve Funds (EBALR). School Districts can create EBALR's under Section 6-p of the General Municipal Law and use them to pay employees for accrued leave time due to them when they leave district employment.
For the year ended June 30, 2007, 421 school districts statewide reported balances totaling $837.6 million, and current and long term liabilities for EBALR - related costs of $58.2 million and $638.4 million respectively. Horseheads Central School District was one of 19 school districts that were the target of the report that had excess reserve funds. Currently, there are legal restrictions on how the districts can use the money and the Comptrollers report concluded that it will require legislative approval to remove the funds from the reserves and use them to for productive purposes, such as paying off debt or financing non-recurring expenses.
In 2008 the Comptroller advanced two different proposals in the Legislature to provide school districts with the legal mechanism to remedy this circumstance. They were not acted upon. As such, this bill seeks the appropriate and necessary changes to the law to give Horseheads Central School District the ability to address the issues in the Comptroller's audit.
Legislative history
New Bill.
Fiscal implications
None to the State.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.