What's happening
This bill allows the Carmel Central School District to establish and use an insurance reserve fund like other specified districts.
Why it matters
Gives Carmel Central School District more autonomy and flexibility. by allowing it to establish an insurance reserve fund, which can help the district deal with unexpected costs from lawsuits, property damage, or other insured risks without immediately impacting the annual school budget or requiring emergency funding.
Puts Carmel on equal footing with other named districts. already allowed to set up these funds, potentially making financial management fairer and more consistent across districts facing similar risks.
May improve the district’s ability to manage risk and protect taxpayer money. by enabling the district to plan ahead for liabilities and avoid large, sudden budget disruptions that could otherwise lead to cuts in programs or services.
Could indirectly benefit students and staff. by ensuring that funding for education is less vulnerable to being diverted to cover unexpected insurance-related costs.
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Who cares
Headline styles
Let Carmel Schools Save
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
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 Carmel Schools Save
In Assembly Committee · Education · Sponsor Pete Harckham
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
9801
IN ASSEMBLY
February 13, 2020
Introduced by M. of A. GALEF -- 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 Carmel 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 318, 321, 325, 342, 499, 509, 510 and 551 of the laws of 2019, 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, the Mamaroneck union free school district, the Minisink Valley central school district, the Vernon Verona Sherrill central school district, and the Ithaca city school district and the Kenmore-Town of Tonawanda union free school district, and the Bedford central school district and the Grand Island central school district and the Tonawanda city school district and the enlarged city school district of Middletown and the Frontier central school district and the Carmel 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
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14634-01-0
A. 9801 2
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.
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.