New York A05643 amends the education law to prioritize payment of prior year claims due to school districts using any excess settlement funds.

New York A05643 amends the education law to ensure that any excess settlement funds recovered by the attorney general are first applied to paying prior year claims due to school districts. This change takes precedence over the distribution of these funds to the general fund. The bill specifies that no single claim can draw down more than forty percent of the appropriation designated for a single year, and if funds are insufficient for a complete payment, claims will be eligible for partial payment in one year while retaining their priority date status for future appropriations.

New York A05643 amends the education law to prioritize payment of prior year claims due to school districts using any excess settlement funds.

New York A05643 amends the education law to ensure that any excess settlement funds recovered by the attorney general are first applied to paying prior year claims due to school districts. This change takes precedence over the distribution of these funds to the general fund. The bill specifies that no single claim can draw down more than forty percent of the appropriation designated for a single year, and if funds are insufficient for a complete payment, claims will be eligible for partial payment in one year while retaining their priority date status for future appropriations.