Permits the Oswego city school district to create an insurance reserve fund

This bill allows the Oswego City School District to create an insurance reserve fund to help pay for specific insurance claims and legal judgments. Under this measure, the district can use money from the fund for losses related to risks where insurance is permitted under state law, provided the district does not already have a separate reserve for those same risks. The legislation specifically authorizes the Oswego district to establish this fund in compliance with existing education laws, while also listing other school districts that are already permitted to do so. The bill becomes effective immediately upon passage.