Bill Text: NY A04769 | 2015-2016 | General Assembly | Introduced

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Bill Title: Authorizes boards of cooperative educational services to establish workers' compensation reserve funds.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2016-01-06 - referred to local governments [A04769 Detail]

Download: New_York-2015-A04769-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4769
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 6, 2015
                                      ___________
       Introduced  by  M.  of A. NOLAN, JAFFEE -- read once and referred to the
         Committee on Local Governments
       AN ACT to amend the general municipal law, in  relation  to  authorizing
         boards  of  cooperative  educational  services  to  establish workers'
         compensation reserve funds
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  The  section  heading  and  subdivisions 1, 3, 4 and 6 of
    2  section 6-j of the general municipal law, the section heading as amended
    3  by chapter 704 of the laws of 1956, subdivisions 1, 4 and 6  as  amended
    4  by  chapter 340 of the laws of 1973, subdivision 3 as amended by chapter
    5  140 of the laws of 1996 and subdivision 6 as renumbered by  chapter  433
    6  of the laws of 1987, are amended to read as follows:
    7    [Workmen's] WORKERS' compensation reserve fund. 1. The governing board
    8  of  any  municipal  corporation,  school  district, BOARD OF COOPERATIVE
    9  EDUCATIONAL SERVICES or fire district, which is,  or  shall  [hereafter]
   10  become  a  self-insurer  under  the  provisions  of  SUBDIVISION FOUR OF
   11  section fifty[, subdivision four] of the  [workmen's]  WORKERS'  compen-
   12  sation  law or section thirty of the volunteer [firemen's] FIREFIGHTERS'
   13  benefit law may establish a reserve fund to be known as the  [workmen's]
   14  WORKERS' compensation reserve fund of such municipal corporation, school
   15  district, BOARD OF COOPERATIVE EDUCATIONAL SERVICES or fire district.
   16    3.  The  moneys  in  such  fund  shall be deposited and secured in the
   17  manner provided by section ten of this article.  The money in such  fund
   18  so  deposited  shall  be accounted for separate and apart from all other
   19  funds of the municipality, school district, BOARD OF COOPERATIVE  EDUCA-
   20  TIONAL  SERVICES  or  fire  district,  in the same manner as provided in
   21  subdivision ten of section six-c of this article.  The governing  board,
   22  or the chief fiscal officer of such municipality, school district, BOARD
   23  OF  COOPERATIVE  EDUCATIONAL SERVICES or fire district, if the governing
   24  board shall delegate such duty to him OR HER, may invest the  moneys  in
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06008-01-5
       A. 4769                             2
    1  such  fund in the manner provided in section eleven of this article. Any
    2  interest earned or capital gain realized on the money  so  deposited  or
    3  invested  shall  accrue  to  and  become part of such fund. The separate
    4  identity  of such fund shall be maintained whether its assets consist of
    5  cash or investments or both.
    6    4. An expenditure shall be made from such fund only for the payment of
    7  compensation and benefits, medical, hospital or other expense authorized
    8  by article two of the [workmen's] WORKERS' compensation law and  by  the
    9  volunteer [firemen's] FIREFIGHTERS' benefit law and expenses of adminis-
   10  tering the self-insurance program for such municipal corporation, school
   11  district, BOARD OF COOPERATIVE EDUCATIONAL SERVICES or fire district.
   12    6. If the municipal corporation, school district, BOARD OF COOPERATIVE
   13  EDUCATIONAL  SERVICES or fire district shall, after the establishment of
   14  such fund, cease to be a self-insurer, the moneys remaining in such fund
   15  may be transferred to any other  fund  authorized  by  this  chapter  or
   16  section  thirty-six  hundred  fifty-one of the education law only to the
   17  extent that the moneys in such fund  shall  exceed  in  amount  the  sum
   18  sufficient  to  pay  all expenditures authorized in [paragraph numbered]
   19  SUBDIVISION four OF THIS SECTION, both accrued and contingent.
   20    S 2. This act shall take effect immediately.