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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to finance
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.
Relates to certain reserve funds for the purpose of maintaining educational programming during the 2010-2011 school year
In Assembly Committee · Ways And Means
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the general municipal law, in relation to certain reserve funds
Purpose
This bill would allow school districts to withdraw excess funds from the Employee Benefit Accrued Liability Reserve Fund to maintain educational programming for the 2010-11 School Year.
Summary of provisions
This bill would allow a school board to authorize the withdrawal of excess funds, as determined by the school district's legal or fiscal officer, from the Employee Benefit Accrued Liability Reserve Fund. The amount of this withdrawal would be limited to the lesser of the total excess available or the Gap Elimination Adjustment as proposed in the 2010-11 Executive Budget. These funds may only be withdrawn for the purposes of maintaining educational programming for the 2010-11 School Year.
Statement in support and budgetary implications
This bill is necessary in order to assist school districts as they complete their 2010-11 Budgets. With the prospect of a reduction in State aid, and the uncertainty in overall funding caused by the lack of an Enacted Budget, this bill would provide a useful tool for some districts to maintain educational programming without significant reductions.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.