Provides for a period of probable usefulness to the payment for a separation incentive program by the town of Southampton.
TITLE OF BILL: An act to amend the local finance law, in relation to providing for a period of probable usefulness to the payment for a separation incentive program by the town of Southampton, county of Suffolk
PURPOSE: This legislation provides for a period of probable usefulness to the payment for a separation incentive program by the Town of Southampton, County of Suffolk.
SUMMARY OF PROVISIONS: Paragraph a of section 11.00 of the local finance law is amended by adding a new subdivision 106 allowing the payments by the Town of Southampton, County of Suffolk for a town approved employee separation incentive program to be spread over a ten-year period.
JUSTIFICATION: The Town of Southampton is currently seeking to implement many cost saving measures including the consolidation of government services as part of the 2012 Tentative Budget. To best achieve this goal, the Town would like to implement the "2012 Reorganization and Retirement Incentive Program" and issue up to a ten (10) year term bond to amortize the costs incurred by this program.
This legislation is necessary in order to implement the Town of Southampton's "2012 Reorganization and Retirement Incentive Program" thereby allowing the Town to achieve a reduction in work force and realize an ongoing net savings through a plan that will be least disruptive to the employees. It amends the local finance law to provide for a period of probable usefulness to the payment for such a separation incentive program by the Town, to be spread out over a period of up to ten years.
Similar legislation has recently been enacted for the Town of East Hampton in Suffolk County (Chapter 477 of the Laws of 2011). Nassau County has also implemented a separation incentive in the past.
LEGISLATIVE HISTORY: New legislation.
FISCAL IMPLICATIONS: None to the State.
EFFECTIVE DATE: Immediately.
STATE OF NEW YORK ________________________________________________________________________ S. 6058 A. 8843 S E N A T E - A S S E M B L Y (PREFILED) January 4, 2012 ___________IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Local Govern- ment IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Local Governments AN ACT to amend the local finance law, in relation to providing for a period of probable usefulness to the payment for a separation incen- tive program by the town of Southampton, county of Suffolk 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 106 to read as follows: 106. PAYMENTS BY THE TOWN OF SOUTHAMPTON, COUNTY OF SUFFOLK TO EMPLOY- EES UPON SEPARATION FROM EMPLOYMENT, AS MAY BE APPROVED BY THE TOWN 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 SEPA- RATION FROM EMPLOYMENT, TEN YEARS. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13561-01-1