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NY S07552

Bill

Official Source

Status

Introduced

6/1/2012

Primary Sponsor

Rules

Click for details

Origin

Senate

2011-2012 General Assembly

AI Summary

  • Amends the Local Finance Law to add a new subdivision 106 to section 11.00, paragraph (a)
  • Authorizes the Town of Oyster Bay in Nassau County to amortize separation payments to employees over a 10-year period
  • Permits amortization of cash payments for separation incentives and the monetary value of accrued unused sick leave, vacation time, and other separation payments
  • Takes effect immediately upon enactment

Legislative Description

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

Last Action

SUBSTITUTED BY A10552

6/21/2012

Committee Referrals

Rules6/21/2012
Local Government6/1/2012

Full Bill Text

No bill text available