Authorizes the village of Lynbrook, in the county of Nassau, to finance employee separation costs over a period of 10 years.
- Jun 21, 2012: SUBSTITUTED BY A10261
- Jun 21, 2012: ORDERED TO THIRD READING CAL.1504
- Jun 21, 2012: COMMITTEE DISCHARGED AND COMMITTED TO RULES
- May 16, 2012: REFERRED TO LOCAL GOVERNMENT
S7435-2011 MeetingsRules: Jun 21, 2012
S7435-2011 CalendarsFloor Calendar: Jun 21, 2012
VOTE: COMMITTEE VOTE: - Rules - Jun 21, 2012
BILL NUMBER:S7435 TITLE OF BILL: An act to amend the local finance law, in relation to authorizing the village of Lynbrook, in the county of Nassau, to amortize the cost of payments to certain employees upon separation of service from such village PURPOSE: This bill authorizes the Village of Lynbrook, in the County of Nassau, to finance employee separation costs over a period of 10 years. SUMMARY OF PROVISIONS: Section 11.00 of the local finance law is amended by adding a new subdivision 106 to authorize the village of Lynbrook to issue bonds for severance payments for employees separating from service. JUSTIFICATION: The Village of Lynbrook has experienced unexpected and unplanned retirements in the Police Department of the Village resulting in a 40% turnover rate. Many of those retiring are senior and high ranking members of the Village Police Department having earned significant amounts 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 for time. A significant financial hardship would be endured by the Village if the separation payments are required to be paid during a period covering only three fiscal years. This legislation would allow the Village of Lynbrook to spread the impact of the separation payments over several years and enable the Village to replenish the reserves established for such purposes. Further, the Village of Lynbrook is presently negotiating to impose limits on the amount 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 for time that can be earned by members of the Village Police Department. The village of Lynbrook also expects to realize budgetary savings in the future as a result of the reduction in salaries attributable to the retirees and the replacement of such retirees with lower paid employees. LEGISLATIVE HISTORY: New legislation. FISCAL IMPLICATIONS: None to the State. EFFECTIVE DATE: This act shall take effect immediately.
S T A T E O F N E W Y O R K ________________________________________________________________________ 7435 I N SENATE May 16, 2012 ___________ Introduced by Sen. SKELOS -- 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 the village of Lynbrook, in the county of Nassau, to amortize the cost of payments to certain employees upon separation of service from such village 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 VILLAGE OF LYNBROOK, IN THE COUNTY OF NASSAU, MADE ON OR AFTER APRIL FIRST, TWO THOUSAND ELEVEN, TO EMPLOYEES UPON SEPARATION FROM EMPLOYMENT, AS MAY BE APPROVED BY SUCH VILLAGE 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. LBD15870-01-2