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NY S07435

Bill

Official Source

Status

Introduced

5/16/2012

Primary Sponsor

Dean Skelos

Click for details

Origin

Senate

2011-2012 General Assembly

AI Summary

  • Amends the Local Finance Law to allow the Village of Lynbrook in Nassau County to amortize employee separation payments over 10 years
  • Permits amortization of payments made on or after April 1, 2011, to employees upon separation from employment
  • Covers separation incentives and unused accrued leave benefits including sick leave, personal leave, holiday leave, vacation time, and overtime compensation alternatives
  • Takes effect immediately upon enactment

Legislative Description

Authorizes the village of Lynbrook, in the county of Nassau, to finance employee separation costs over a period of 10 years.

Last Action

SUBSTITUTED BY A10261

6/21/2012

Committee Referrals

Rules6/21/2012
Local Government5/16/2012

Full Bill Text

No bill text available