New York S 10261: Permits the Vestal Central School District to create an insurance reserve fund

Bill Text

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S10261 Summary:

BILL NOS10261 

&nbsp

SAME ASSAME AS A11296

&nbsp

SPONSORWEBB

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §6-n, Gen Muni L

&nbsp

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

Go to top S10261 Actions:

BILL NOS10261 

&nbsp

05/08/2026REFERRED TO LOCAL GOVERNMENT

06/03/2026COMMITTEE DISCHARGED AND COMMITTED TO RULES

06/03/2026ORDERED TO THIRD READING CAL.1677

06/03/2026SUBSTITUTED BY A11296

&nbspA11296 AMEND= Rules (Lupardo)

&nbsp05/11/2026referred to education

&nbsp05/18/2026reported referred to ways and means

&nbsp05/28/2026reported referred to rules

&nbsp05/28/2026reported 

&nbsp05/28/2026rules report cal.249

&nbsp05/28/2026ordered to third reading rules cal.249

&nbsp05/29/2026passed assembly

&nbsp05/29/2026delivered to senate

&nbsp05/29/2026REFERRED TO LOCAL GOVERNMENT

&nbsp06/03/2026SUBSTITUTED FOR S10261

&nbsp06/03/20263RD READING CAL.1677

&nbsp06/03/2026PASSED SENATE

&nbsp06/03/2026RETURNED TO ASSEMBLY

Go to topS10261 Committee&nbspVotes:

Go to topS10261 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS10261 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10261

 IN SENATE

 May 8, 2026
 ___________

 Introduced by Sen. WEBB -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government

 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

 S. 10261 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 reserv