Bill > S08513

This bill amends the general municipal law to permit the Johnson City school district to establish an insurance reserve fund, which is a financial account that allows a school district to set aside money to cover potential insurance-related expenses such as claims, legal actions, or judgments. Currently, only specific named school districts are authorized to create such reserve funds, and this bill adds the Johnson City school district to that list. The insurance reserve fund can be used to pay for losses or claims for which the school district is required to maintain insurance, with some restrictions on the types of risks covered. Specifically, the fund can be used for risks outlined in paragraph three of section one thousand one hundred thirteen of the insurance law, which likely relates to specific types of insurance coverage. The bill allows the Johnson City school district to create this reserve fund in compliance with existing laws and regulations, providing the district with additional financial flexibility to manage potential insurance-related expenses. The act will take effect immediately upon passage.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S8513