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NY S06270

Bill

Official Source

Status

Introduced

1/6/2016

Primary Sponsor

Michael Venditto

Click for details

Origin

Senate

2015-2016 General Assembly

AI Summary

  • Authorizes the Village of Amityville in Suffolk County to amortize employee separation payments up to $870,000 over 10 years.

  • Allows amortization of separation incentives and cash payments for accrued but unused leave, including sick leave, personal leave, holiday leave, and vacation time.

  • Applies retroactively to payments made on or after January 1, 2015.

  • Amends paragraph (a) of section 11.00 of the Local Finance Law by adding subdivision 108.

  • Takes effect immediately upon enactment.

Legislative Description

Authorizes the village of Amityville, county of Suffolk, to amortize the cost of payments to certain employees upon separation of service from the village.

Last Action

COMMITTED TO RULES

6/17/2016

Committee Referrals

Rules6/17/2016
Local Government1/6/2016

Full Bill Text

No bill text available