Bill Text: NY S05303 | 2009-2010 | General Assembly | Introduced

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Bill Title: Authorizes the Horseheads central school district to use excess employee benefit accrued liability reserve funds for certain purposes.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2010-01-06 - REFERRED TO EDUCATION [S05303 Detail]

Download: New_York-2009-S05303-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
           S. 5303                                                  A. 7869
                              2009-2010 Regular Sessions
                             S E N A T E - A S S E M B L Y
                                    April 27, 2009
                                      ___________
       IN  SENATE -- Introduced by Sen. WINNER -- read twice and ordered print-
         ed, and when printed to be committed to the Committee on Education
       IN ASSEMBLY -- Introduced by M. of A. O'MARA -- read once  and  referred
         to the Committee on Education
       AN ACT in relation to authorizing the Horseheads central school district
         to  use  excess  employee  benefit accrued liability reserve funds for
         certain purposes
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Notwithstanding any other provision of law, the Horseheads
    2  central school district, which was in part,  the  subject  of  an  audit
    3  conducted by the state comptroller of employee benefit accrued liability
    4  reserve  (EBALR)  funds for the period beginning July 1, 2002 and ending
    5  June 30, 2007, and which, according to the findings of such  audit,  has
    6  an  excess of EBALR funds, is hereby authorized to use such excess EBALR
    7  funds to: retire short-term and long-term debt of such school  district;
    8  pay  one-time  non-recurring  expenses  of  such school district; and/or
    9  establish a tax rebate program to return such excess EBALR funds to  the
   10  taxpayers of such school district.
   11    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11403-01-9