What's happening
This bill allows the Bedford Central School District to establish and use insurance reserve funds like certain other school districts.
Why it matters
Extends special financial management tools to Bedford Central School District. , allowing it to establish insurance reserve funds that help manage costs and risks associated with lawsuits, claims, or other insured events—potentially improving financial stability and planning.
Aligns Bedford with a select group of districts (like Scarsdale and Minisink Valley). that already have this authority, signaling that this flexibility is viewed as beneficial or necessary for certain districts with particular needs or risk profiles.
May reduce budget volatility and taxpayer impact. by allowing the district to set aside funds in advance for insurance-related expenses, rather than relying on unpredictable year-to-year budget allocations or emergency appropriations.
Reflects a legislative trend. toward granting specific districts tailored financial powers, possibly in response to unique legal, demographic, or operational challenges that make standard school district funding mechanisms insufficient.
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Who cares
Headline styles
Allow School Insurance Funds
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Substituted by S2685
- Advanced to third reading cal.367
- Reported
- Reported referred to ways and means
- 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.
Allow Bedford School Insurance Fund
Signed by Governor · Sponsor Shelley Mayer
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
123
2019-2020 Regular Sessions
IN ASSEMBLY (Prefiled)
January 9, 2019
Introduced by M. of A. BUCHWALD, ORTIZ -- read once and referred to the Committee on Education
AN ACT to amend the general municipal law, in relation to insurance reserve funds for the Bedford central school district
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 Bedford 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
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00932-01-9
A. 123 2
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.
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.