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Bill

Bill

A 454

Permits the Niskayuna central school district to create an insurance reserve fund

2025 Regular Session Introduced by Phil Steck

Authorizes Niskayuna Central School District to create an insurance reserve fund to cover insurance costs, aiming to stabilize budgets and protect taxpayers.

REFERRED TO EDUCATION
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Bill Summary · A 454

Summary of Assembly Bill A 454

Overview

Assembly Bill A 454 would authorize the Niskayuna Central School District to create an insurance reserve fund. The bill was introduced on January 8, 2025, and is currently referred to the Education Committee. The primary sponsor is Phil Steck. A related bill from a prior session is A 9838.

What the bill would do

  • Permit the Niskayuna Central School District to establish an insurance reserve fund intended to cover insurance-related costs.
  • Provide the district with a dedicated financial mechanism to manage and reserve funds specifically for insurance needs.

Note: The available information does not include the full text, so specific details such as funding sources, capitalization limits, investment rules, governance, or oversight requirements are not disclosed here. The exact mechanics would be defined in the bill’s statutory language.

Provisions and details (as available)

  • The core provision is the authorization to create an insurance reserve fund for the district.
  • Other substantive provisions (e.g., how funds are funded, maximum allowable reserve, treatment of interest or investment earnings, reporting requirements, or oversight) are not specified in the provided summary.

Affected entities

  • Primary: Niskayuna Central School District.
  • Potential indirect effects: District budget processes, reserve management strategies, and possibly property taxpayers or local residents depending on future budgeting and reporting requirements.

Legislative history and status

  • Introduced: January 8, 2025.
  • Status: Referred to the Education Committee.
  • Legislative actions recorded: Referred to Education on 2025-01-08 (listed twice in the provided notes).

Sponsorship

  • Primary sponsor: Phil Steck.

Related legislation

  • A 9838 (prior-session): Indicating a predecessor or companion proposal related to the same concept of an insurance reserve fund for a school district.

Potential impacts and considerations

  • Financial stability: If enacted, the district could better plan for and absorb insurance costs, potentially smoothing budget fluctuations.
  • Governance and compliance: The bill would likely establish rules for creation, management, and reporting of the reserve fund, subject to state education and local finance laws.
  • Taxpayers and residents: Depending on how the fund is funded and reported, there could be implications for local budgeting and transparency.

Next steps

  • Monitor amendments and committee commentary as the Education Committee reviews the bill.
  • If advanced, follow potential floor action in the Assembly and any related actions in the Senate.

Compiled from official sources — confirm details with the bill’s official record.

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