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- 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.
Establishes an energy reserve fund for school districts and boards of cooperative educational services
In Assembly Committee · Education · Sponsor Kevin Cahill
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S517
Title of bill
An act to amend the education law, in relation to establishing an energy reserve fund for school districts and boards of cooperative educational services
Purpose
Allows school districts and boards of cooperative educational services to establish a separate fund to provide a reserve for excess energy costs.
Section 3651 of the education law is amended to authorize any school district to establish an energy reserve fund for the payment of energy costs and that any reserve funds not expended in that fiscal year may be transferred to another reserve fund or applied to the appropriations of next fiscal year's budget.
Justification
For the past several years many school districts have faced an increasing difficult time in paying for the high cost of energy. Energy costs have fluctuated greatly and are making it very difficult for school districts to plan for the rising energy costs. This bill would allow school districts to create an energy reserve fund, which would allow school districts to accumulate funds to pay for the excess costs of energy from this fund. Currently, school districts are allowed to have thirteen other reserve funds for purposes such as Capital, Worker's Compensation, Tax Certioriari and Liability Reserve, among others.
Legislative history
S.6933/A.961 of 2009/2010; Referred to Education S.8448 - 2008 - Referred to Rules Committee
Fiscal implications
None.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.