Bill S7552-2011

Authorizes the town of Oyster Bay, county of Nassau to amortize the cost of payments to employees upon separation of service from the town

Authorizes the town of Oyster Bay, county of Nassau to amortize the cost of payments to employees upon separation of service from the town.

Details

Actions

  • Jun 21, 2012: SUBSTITUTED BY A10552
  • Jun 21, 2012: ORDERED TO THIRD READING CAL.1505
  • Jun 21, 2012: COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • Jun 21, 2012: COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • Jun 1, 2012: REFERRED TO LOCAL GOVERNMENT

Meetings

Votes

VOTE: COMMITTEE VOTE: - Rules - Jun 21, 2012
Ayes (21): Skelos, Alesi, Farley, Hannon, Johnson, Larkin, LaValle, Libous, Marcellino, Maziarz, Nozzolio, Saland, Seward, Sampson, Breslin, Dilan, Hassell-Thompson, Montgomery, Perkins, Smith, Stewart-Cousins
Ayes W/R (2): Duane, Parker
Nays (1): Krueger
Excused (1): Fuschillo

Memo

BILL NUMBER:S7552

TITLE OF BILL: An act to amend the local finance law, in relation to authorizing the town of Oyster Bay, county of Nassau to amortize the cost of payments to employees upon separation of service from the town

PURPOSE: This legislation would allow the Town of Oyster Bay to amortize the cost of payments to employees upon separation of service from the town.

SUMMARY OF PROVISIONS: Section 1 of this bill amends paragraph a of section 11.00 of local finance law by adding a new subdivision 106 that empowers the Town of Oyster Bay to amortize 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 earned by employees of the Town of Oyster Bay and payable to such employees upon separation of service from the Town. The bill permits the town to amortize any such separation payments made by the Town.

Section 2 authorizes this act shall take effect immediately.

JUSTIFICATION: This legislation would allow the Town of Oyster Bay to spread the impact of the separation payments over several years, not increase its cumulative deficit in its general fund and provide the town with ability to operate within the State's imposed tax cap.

The Town of Oyster Bay 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 bill.

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE: This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 7552 IN SENATE June 1, 2012 ___________
Introduced by COMMITTEE ON RULES -- 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 town of Oyster Bay, county of Nassau to amortize the cost of payments to employees upon separation of service from the town 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 OYSTER BAY TO EMPLOYEES UPON SEPARATION FROM EMPLOYMENT, AS MAY BE APPROVED BY THE TOWN AND INCLUDING, BUT NOT LIMITED TO, SUCH PAYMENTS, CASH PAYMENT FOR SEPARATION INCENTIVES AND/OR PAYMENT OF THE MONETARY VALUE OF ACCRUED AND ACCUMULATED BUT UNUSED AND UNPAID SICK LEAVE, VACATION TIME, 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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