A 11296: Permits the Vestal Central School District to create an insurance reserve fund.

  
  STATE OF NEW YORK ________________________________________________________________________ 11296  IN ASSEMBLY May 11, 2026 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Lupardo) -- read once and referred to the Committee on Education AN ACT to amend the general municipal law, in relation to permitting the Vestal central school district to create an insurance reserve fund The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (a) of subdivision 2 of section 6-n of the gener- 2 al municipal law, as separately amended by chapters 486, 515 and 525 of 3 the laws of 2024, is amended to read as follows: 4 (a) The governing board of any municipal corporation may establish a 5 reserve fund to be known as the insurance reserve fund. Upon the 6 creation of the fund, the municipality may make expenditures from the 7 fund for any loss, claim, action or judgment for which the municipal 8 corporation is authorized or required to purchase or maintain insurance, 9 except those kinds of risks for which insurance is authorized pursuant 10 to paragraph one, two, three, fifteen, sixteen, seventeen, eighteen, 11 twenty-two or twenty-three of subsection (a) of section one thousand one 12 hundred thirteen of the insurance law, or for payments in lieu of 13 contributions under article eighteen of the labor law; provided however, 14 that no municipality shall make an expenditure from such fund for any 15 loss, claim, action or judgment for which the municipal corporation has 16 established a reserve fund under any other provision of law; provided, 17 further that the Scarsdale union free school district, the Mamaroneck 18 union free school district, the Minisink Valley central school district, 19 the Vernon Verona Sherrill central school district, the Ithaca city 20 school district, the Kenmore-Town of Tonawanda union free school 21 district, the Bedford central school district, the Grand Island central 22 school district, the Tonawanda city school district, the enlarged city 23 school district of Middletown, the Frontier central school district, the 24 Owego Apalachin central school district, the Maine-Endwell central 25 school district, the Binghamton city school district, the Candor central 26 school district, the Cleveland Hill union free school district, the 27 Depew union free school district, the Iroquois central school district, 28 the Liverpool central school district, the Auburn enlarged city school EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15799-01-6 
 A. 11296 2 1 district, the Carmel central school district, the Clarence central 2 school district, the Fulton city school district, [and] the Canastota 3 central school district, and the Vestal central school district may 4 establish insurance reserve funds in compliance with this section and 5 article seventy-four of the education law and such school districts may 6 make expenditures in compliance with this section and article seventy- 7 four of the education law from such reserve fund for any loss, claim, 8 action or judgment for which the school districts are authorized or 9 required to purchase or maintain insurance for the kinds of risks for 10 which insurance is authorized pursuant to paragraph three of subsection 11 (a) of section one thousand one hundred thirteen of the insurance law. 12 § 2. This act shall take effect immediately.