Bill S2679-2011

Authorizes the city of Kingston to amortize the cost of payments to employees upon separation of service from such city during 2010

Authorizes the city of Kingston to amortize the cost of payments to employees upon separation of service from such city during 2011.

Details

Actions

  • May 16, 2011: RECOMMIT, ENACTING CLAUSE STRICKEN
  • Jan 28, 2011: REFERRED TO LOCAL GOVERNMENT

Memo

BILL NUMBER:S2679

TITLE OF BILL: An act to amend the local finance law, in relation to authorizing and empowering the city of Kingston to amortize the cost of payments to employees upon separation of service from the city during 2010

PURPOSE: The purpose of this bill is to make explicit the ability of the City of Kingston to amortize the cast of payments made to employees upon separation of service under incentives offered in 2010 over a period of five years.

SUMMARY OF PROVISIONS: Section 1, authorizing and empowering the City of Kingston to amortize the cast of payments made to employees upon separation of service under incentives offered in 2010 over a period of five years.

Section 2, effective date.

JUSTIFICATION: This legislation addresses the City of Kingston's need to amortize the cast of payments to employees upon separation of service from the City. The measure was requested by the City of Kingston.

LEGISLATIVE HISTORY: A.9950/S.7030 - Vetoed in 2010

FISCAL IMPLICATIONS: None to state.

EFFECTIVE DATE: This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 2679 2011-2012 Regular Sessions IN SENATE January 28, 2011 ___________
Introduced by Sen. LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the local finance law, in relation to authorizing and empowering the city of Kingston to amortize the cost of payments to employees upon separation of service from the city during 2010 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph a of section 11.00 of the local finance law is amended by adding a new subdivision 105 to read as follows: 105. PAYMENTS BY THE CITY OF KINGSTON TO EMPLOYEES UPON SEPARATION FROM EMPLOYMENT DURING THE PERIOD JANUARY FIRST, TWO THOUSAND ELEVEN THROUGH AND INCLUDING DECEMBER THIRTY-FIRST, TWO THOUSAND ELEVEN, AS MAY BE APPROVED BY THE CITY AND INCLUDING, BUT NOT LIMITED TO, CASH PAYMENT FOR SEPARATION INCENTIVES AND/OR PAYMENT OF THE MONETARY VALUE OF ACCRUED AND ACCUMULATED BUT UNUSED AND UNPAID SICK LEAVE, PERSONAL LEAVE, HOLIDAY LEAVE, VACATION TIME, TIME ALLOWANCES GRANTED IN LIEU OF OVERTIME COMPENSATION AND ANY OTHER FORMS OF PAYMENT REQUIRED TO BE PAID TO SUCH EMPLOYEES UPON SEPARATION FROM EMPLOYMENT, FIVE YEARS. S 2. This act shall take effect immediately.

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