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NY S00922
Bill
Status
1/8/2025
Primary Sponsor
Patrick Gallivan
Click for details
AI Summary
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Expands authorization for insurance reserve funds to all school districts in New York, not just the approximately 25 specifically named districts currently permitted under existing law
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Requires any school district establishing such a fund to do so pursuant to a collective bargaining agreement
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Mandates that the amount and manner of reserve fund contributions be determined by a qualified, independent actuary certified by the American Academy of Actuaries
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Permits school districts to use reserve funds to cover losses, claims, actions, or judgments for which they are authorized or required to maintain insurance
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Takes effect on July 1 following enactment
Legislative Description
Authorizes school districts to establish an insurance reserve fund in an amount and manner determined by a qualified and independent actuary certified by the American Academy of Actuaries to be reasonable and necessary.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/7/2026