Authorizes the village of Hempstead, in the county of Nassau, to amortize over a period of 20 years, the payments made to village employees upon separation from employment

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          10489

                                    I N  S E N A T E

                                      May 15, 2026
                                       ___________

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

        AN ACT to amend the local finance law, in relation  to  authorizing  the
          village  of  Hempstead,  county  of  Nassau,  to  amortize the cost of
          payments to employees upon separation of service from the village

          THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section  1.  Paragraph  a of section 11.00 of the local finance law is
     2  amended by adding a new subdivision 111 to read as follows:
     3    111. PAYMENTS BY THE VILLAGE OF HEMPSTEAD, COUNTY OF NASSAU,  MADE  ON
     4  OR  AFTER  APRIL  FIRST, TWO THOUSAND TWENTY-SIX TO EMPLOYEES UPON SEPA-
     5  RATION FROM EMPLOYMENT, AS MAY BE APPROVED BY SUCH VILLAGE  AND  INCLUD-
     6  ING,  BUT  NOT LIMITED TO, CASH PAYMENT FOR SEPARATION INCENTIVES AND/OR
     7  PAYMENT OF THE MONETARY VALUE OF ACCRUED AND ACCUMULATED BUT UNUSED  AND
     8  UNPAID  SICK  LEAVE,  VACATION  TIME,  AND  ANY  OTHER  FORMS OF PAYMENT
     9  REQUIRED TO BE PAID TO SUCH EMPLOYEES UPON SEPARATION  FROM  EMPLOYMENT,
    10  TWENTY YEARS.
    11    § 2. This act shall take effect immediately.






         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15865-01-6