S6622-2011 - NY Senate Open Legislation - Authorizes the board of cooperative educational services of Nassau county to maintain funds in an employee benefit accrued liability reserve fund

Authorizes the board of cooperative educational services of Nassau county to maintain funds in an employee benefit accrued liability reserve fund.

Sponsor: MARTINS / Committee: EDUCATION
Law Section: Nassau County

S6622-2011 Actions

Jun 12, 2012: referred to education
Jun 12, 2012: DELIVERED TO ASSEMBLY
Jun 12, 2012: PASSED SENATE
Mar 26, 2012: ADVANCED TO THIRD READING
Mar 22, 2012: 2ND REPORT CAL.
Mar 21, 2012: 1ST REPORT CAL.450
Mar 6, 2012: REFERRED TO LOCAL GOVERNMENT

S6622-2011 Meetings

Local Government: Mar 21, 2012

S6622-2011 Calendars

S6622-2011 Votes

VOTE: COMMITTEE VOTE: - Local Government - Mar 21, 2012

Ayes (7): Martins, Ball, Little, McDonald, Ritchie, Stewart-Cousins, Klein
Excused (1): Oppenheimer

VOTE: FLOOR VOTE: - Jun 12, 2012

Ayes (59): Adams, Addabbo, Alesi, Avella, Ball, Bonacic, Breslin, Carlucci, DeFrancisco, Diaz, Dilan, Duane, Farley, Flanagan, Fuschillo, Gallivan, Gianaris, Golden, Griffo, Grisanti, Hannon, Hassell-Thomps, Johnson, Kennedy, Klein, Lanza, Larkin, LaValle, Libous, Little, Marcellino, Martins, Maziarz, McDonald, Montgomery, Nozzolio, O'Mara, Oppenheimer, Parker, Peralta, Perkins, Ranzenhofer, Ritchie, Rivera, Robach, Saland, Sampson, Savino, Serrano, Seward, Skelos, Smith, Squadron, Stavisky, Stewart-Cousin, Storobin, Valesky, Young, Zeldin
Excused (3): Espaillat, Huntley, Krueger

S6622-2011 Memo

BILL NUMBER:S6622

TITLE OF BILL:
An act
in relation
to authorizing the board of cooperative educational services of Nassau
County to maintain funds in an employee benefit accrued liability
reserve fund

PURPOSE:
The purpose of this bill is to authorize the Board of
Cooperative Educational Services of Nassau County to maintain excess
funds contained within an employee benefit accrued liability reserve
fund (EBALR) provided such funds are retained for payment of other
post-employment benefits.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 of the bill authorizes the BOCES of Nassau County to
maintain excess EBALR funds provided they are retained to make future
payments related to other post employment benefits of their
employees. The bill further provides that the chief fiscal officer of
BOCES shall account for these funds in a separate fund.

JUSTIFICATION:
BOCES are authorized pursuant to Section 6-p of the
General Municipal Law to establish employee benefit accrued liability
reserve (EBALR) funds to cover unused and unpaid sick leave,
personal leave, vacation time, time allowances granted in lieu of
overtime compensation and any other forms of payment for accrued but
unused time earned by employees.
This bill authorizes BOCES to maintain excess EBALR funds so they can
also pay other-post employment benefits. These funds are critically
important to ensure that BOCES will have funding to pay these
employee benefits in the future.

PRIOR LEGISLATIVE HISTORY:
This is new legislation.

FISCAL IMPLICATIONS:
There is no fiscal impact to the State.

EFFECTIVE DATE:
This act shall take effect immediately.

S6622-2011 Text

 S T A T E   O F   N E W   Y O R K
 
                                          6622
 I N  SENATE
 March 6, 2012
 
 Introduced  by  Sen. MARTINS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government
 

AN ACT in relation to authorizing the board of  cooperative  educational
 services  of  Nassau  County  to maintain funds in an employee benefit
 accrued liability reserve fund
 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section  1.  Notwithstanding any other provision of law to the contra
 ry, the board of cooperative educational services of  Nassau  county  is
 hereby  authorized  to  maintain  funds  in  an employee benefit accrued
 liability reserve fund created pursuant to the provisions of section 6-p
 of the general municipal law which are in excess of the  sum  sufficient
 to  pay  all liabilities incurred or accrued against it for the purposes
 authorized pursuant  to  section  6-p  of  the  general  municipal  law.
 Notwithstanding  any other provision of law to the contrary, such excess
 funds may be retained and expended for the payment of other post-employ
 ment benefits, except pensions or other benefits funded through a public
 retirement system, provided pursuant to state statute, local  enactment,
 contract  or  other  unlawful authority to former or current officers or
 employees or their families or beneficiaries after service at the  board
 of  cooperative  educational  services  of  Nassau county has ended such
 post-employment benefits shall include but not be limited to health care
 benefits.
 The chief fiscal officer  of  the  board  of  cooperative  educational
 services  of  Nassau county shall account for such excess funds retained
 pursuant to this act separate and apart from all other funds retained in
 the employee benefit accrued liability  reserve  fund.  Such  accounting
 shall  show:  the  source, the date and amount of each sum paid into the
 employee benefit accrued liability reserve fund  which  were  excess  of
 liabilities  needed  to  fulfill  the  provisions  of section 6-p of the
 general municipal law; the interest earned by such funds; capital  gains
 or  losses  resulting  from  the sale of investments of these funds; the
 order, purpose thereof, date and amount of each payment of these  excess
 funds; a cash balance of excess funds and a schedule of investments. The
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14928-01-2
        S. 6622                             2
 chief  fiscal officer, within sixty days of the end of each fiscal year,
 shall furnish a detailed report of the operation and condition of  these
 excess  funds  to the governing board of the board of cooperative educa
 tional  services  of  Nassau  county  and  the office of the state comp
 troller.
 Any funds which have been retained by the board of cooperative  educa
 tional  services of Nassau county for the purpose of funding other post
 employment benefits as defined by this act at any  point  prior  to  the
 effective  date  of  this act may continue to be retained in a manner as
 prescribed by this act.
 

S 2. This act shall take effect immediately.

S6622-2011: Authorizes the board of cooperative educational services of Nassau county to maintain funds in an employee benefit accrued liability reserve fund