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NY S00762

Bill

Official Source

Status

Introduced

1/4/2017

Primary Sponsor

Elizabeth Little

Click for details

Origin

Senate

2017-2018 General Assembly

AI Summary

  • Amends Education Law Section 3651 to allow school districts to establish reserve funds for contributions to the New York State Teachers' Retirement System without voter approval

  • Reserve fund monies are limited to an amount reasonably deemed necessary to meet the district's retirement contributions

  • Provides an exception to existing subdivision one requirements that typically govern reserve fund establishment

  • Takes effect immediately upon enactment

Legislative Description

Authorizes school districts to establish reserve funds for the payment of their contributions to the New York state teachers' retirement system.

Last Action

COMMITTED TO RULES

6/20/2018

Committee Referrals

Rules6/20/2018
Civil Service and Pensions1/4/2017

Full Bill Text

No bill text available