What's happening
This bill allows the Orchard Park Central School District to establish and use an insurance reserve fund.
Why it matters
Gives Orchard Park Central School District more financial flexibility and self-reliance. by allowing it to set aside funds for insurance-related costs, potentially lowering dependence on external insurance providers.
May help the district better manage unexpected financial risks. (like lawsuits or property damage) by providing a dedicated reserve to cover such liabilities, which could stabilize the school budget and protect educational programs from sudden cuts.
Aligns the Orchard Park district with other specifically named school districts. already permitted to establish these funds, signaling a trend toward greater local control over risk management for schools in New York.
Could result in long-term savings for taxpayers. if the reserve fund enables the district to handle claims internally, reducing or avoiding future premium increases or emergency budget allocations.
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
Orchard Park Central School District board
The bill would authorize the board to establish an insurance reserve fund under the General Municipal Law and article 74 of the Education Law.
Orchard Park Central School District financial administrators
The bill would allow reserve spending on eligible losses, claims, actions or judgments, including risks covered by paragraph three of Insurance Law section 1113(a), subject to statutory limits.
People and entities with claims against Orchard Park Central School District
The reserve could provide a source of payment for eligible claims and judgments, but could not cover matters for which the district has established another reserve fund.
Headline styles
Let Orchard Park Save Insurance
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
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.
Let Orchard Park Save Insurance
In Senate Committee · Local Government · Sponsor Chris Jacobs
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
11065
IN ASSEMBLY
June 1, 2018
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Bohen) -read once and referred to the Committee on Education
AN ACT to amend the general municipal law, in relation to permitting the Orchard Park central school district to establish an insurance reserve fund
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (a) of subdivision 2 of section 6-n of the general municipal law, as separately amended by chapters 414 and 416 of the laws of 2016, is amended to read as follows:
(a) The governing board of any municipal corporation may establish a reserve fund to be known as the insurance reserve fund. Upon the creation of the fund, the municipality may make expenditures from the fund for any loss, claim, action or judgment for which the municipal corporation is authorized or required to purchase or maintain insurance, except those kinds of risks for which insurance is authorized pursuant to paragraph one, two, three, fifteen, sixteen, seventeen, eighteen, twenty-two or twenty-three of subsection (a) of section one thousand one hundred thirteen of the insurance law, or for payments in lieu of contributions under article eighteen of the labor law; provided however, that no municipality shall make an expenditure from such fund for any loss, claim, action or judgment for which the municipal corporation has established a reserve fund under any other provision of law; provided, further that the Scarsdale union free school district [and], the Vernon Verona Sherrill central school district [may establish insurance reserve funds in compliance with this section and article seventy-four of the education law and], the Minisink Valley central school district and the Orchard Park central school district may establish insurance reserve funds in compliance with this section and article seventy-four of the education law and such school districts may make expenditures in compliance with this section and article seventy-four of the education law from such reserve fund for any loss, claim, action or judgment for which the school districts are authorized or required to purchase or maintain insurance for the kinds of risks for which insurance is authorized pursuant to paragraph three of subsection (a) of section one thousand one hundred thirteen of the insurance law.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15963-01-8
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.