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Sponsors
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History
- Substituted by A10547
- Advanced to third reading
- 2nd report cal.
- 1st report cal.1178
- 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.
Authorizes the town of Hempstead, in the county of Nassau, to amortize over a period of 10 years, the payments made to town employees upon separation from employment
Signed by Governor · Sponsor Earlene Hooper
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the local finance law, in relation to authorizing the town of Hempstead, county of Nassau, to amortize the cost of payments to employees upon separation of service from the town
Purpose
To allow the Town of Hempstead to amortize the cost of payments to employees upon separation of service from the town.
Summary of provisions
Section one adds a new subdivision 108 to Local Finance Law § 11.00(a) to authorize the Town of Hempstead, as approved by the Town, to amortize accrued and accumulated but unused and unpaid sick leave, holiday leave, vacation time, time allowances granted in lieu of overtime compensation and other form of payment for time earned by employees of the Town of Hempstead, payable to such employees upon separation of service from the Town.
Section two provides that this act take effect immediately.
Justification
The departure of employees from the Town of Hempstead payroll, particularly in response to incentive programs, benefits Town residents by reducing the cost of government inasmuch as workers with years of seniority may be replaced by lower-earning, less senior personnel or, in some cases, not replaced at all. Such departures often result in reduced costs for many years.
At the same time, the removal of employees from the Town payroll does trigger immediate costs as departing workers are often entitled to payments under separation incentives and/or the monetary value of accumulated but unused and unpaid sick leave, vacation time and other forms of payment. Such payments place stress on the Town funds involved.
This legislation would spread the impact of payments required to be made to Town of Hempstead employees upon severance and aid the town in its effort to maintain budget stability while meeting its obligations to departing personnel.
Legislative history
New bill.
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.