Authorizes the New York Liquidation Bureau to establish a program to evaluate and reimburse eligible local educational agencies for monetary liabilities arising from civil claims or settlement agreements related to certain acts that occurred during a period covered by a liability insurance policy issued by an insolvent insurer.

This bill allows the New York Liquidation Bureau to create a program that helps local educational agencies cover costs from civil claims or settlements related to incidents that happened while they were insured by an insurer that is now bankrupt. Essentially, it aims to provide financial relief to schools facing unexpected liabilities due to past insurance issues.

Supporters of this bill would highlight its potential to protect local schools from financial strain caused by liabilities that are no longer their fault due to the insolvency of their insurers. They would argue that this program ensures educational agencies can continue to operate without the burden of unexpected legal costs, ultimately benefiting students and communities.

Critics might argue that this bill could create a precedent for relying on state funds to bail out institutions that should have managed their insurance more responsibly. They may express concerns about the use of taxpayer money to cover liabilities that could have been avoided, suggesting it might encourage negligence in risk management among educational agencies.