Bill S7030-2009

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

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

Details

Actions

  • Jun 16, 2010: SUBSTITUTED BY A9950
  • Jun 8, 2010: ADVANCED TO THIRD READING
  • Jun 7, 2010: 2ND REPORT CAL.
  • Jun 3, 2010: 1ST REPORT CAL.736
  • Mar 8, 2010: REFERRED TO LOCAL GOVERNMENT

Votes

VOTE: COMMITTEE VOTE: - Local Government - Jun 3, 2010
Ayes (7): Stewart-Cousins, Oppenheimer, Valesky, Thompson, Johnson C, Little, Bonacic
Excused (1): Morahan

Memo

 BILL NUMBER:  S7030

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

PURPOSE : The purpose of this bill is to make explicit the ability of the City of Kingston to amortize the cost of payments made to employees upon separation of service over a period of ten years.

SUMMARY OF PROVISIONS : Section 1, authorizing and empowering the City of Kingston to amortize the cost of payments made to employees upon separation of service over a period often years.

Section 2, effective date.

EXISTING LAW : None.

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

LEGISLATIVE HISTORY : New bill.

FISCAL IMPLICATIONS : None to the State.

EFFECTIVE DATE : This act shall take effect immediately.

Text

STATE OF NEW YORK ________________________________________________________________________ 7030 IN SENATE March 8, 2010 ___________
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 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, 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, TEN YEARS. S 2. This act shall take effect immediately.

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