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NY A08843

Bill

Official Source

Status

Passed

7/18/2012

Primary Sponsor

Fred Thiele

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Adds a new category (subdivision 106) to the local finance law allowing the Town of Southampton to finance employee separation payments with a ten-year useful life period
  • Permits financing of cash separation incentives, accrued leave payouts (sick leave, personal leave, holiday leave, vacation time), overtime compensation allowances, and health/dental/vision insurance premiums for employees upon separation
  • Allows the Town of Southampton to issue bonds to fund these separation-related expenditures and reimburse previously made expenses after approval by town board resolution requiring at least four votes
  • Takes effect immediately upon enactment

Legislative Description

Provides for a period of probable usefulness to the payment for a separation incentive program by the town of Southampton.

Last Action

signed chap.127

7/18/2012

Committee Referrals

Local Government6/4/2012
Ways and Means5/15/2012
Governmental Employees1/12/2012
Local Governments1/4/2012

Full Bill Text

No bill text available