§ 160.05. Financial restructuring board for local governments. 1.\nThere shall be a financial restructuring board for local governments\nwhich shall consist of ten members: the director of the budget who shall\nbe chair of the board, the attorney general, the state comptroller, and\nthe secretary of state, each of whom may designate a representative to\nattend sessions of the board on his or her behalf, and six members\nappointed by the governor, one of whom upon the recommendation of the\ntemporary president of the senate, one of whom upon the recommendation\nof the speaker of the assembly, and four other members appointed by the\ngovernor, one of whom shall have significant experience in municipal\nfinancial and restructuring matters. In making such appointments, the\ngovernor shall consider regional diversity. Appointees shall serve at\nthe pleasure of his or her appointing authority. The appointee of the\ngovernor who has been designated as having significant experience in\nmunicipal financial and restructuring matters shall receive fair\ncompensation for his or her services performed pursuant to this section\nin an amount to be determined by the director of the budget and all\nmembers shall be reimbursed for all reasonable expenses actually and\nnecessarily incurred by him or her in the performance of his or her\nduties. The board shall have the power to act by an affirmative vote of\na majority of the total number of members and shall render its findings\nand recommendations within six months of being requested to act by a\nfiscally eligible municipality. The provisions of section seventeen of\nthe public officers law shall apply to members of the board. No member\nof the board shall be held liable for the performance of any function or\nduty authorized by this section. The work of the board shall be\nconducted with such staff as the director of the budget, the secretary\nof state, the attorney general and the state comptroller shall make\navailable. All proceedings, meetings and hearings conducted by the board\nshall be held in the city of Albany.\n 2. A "fiscally eligible municipality" shall mean any county, city,\nexcluding a city with a population greater than one million, town, or\nvillage that the board, on a case by case basis, determines would\nbenefit from the services and assistance which the board has legal\nauthority to offer. In evaluating whether a municipality is a fiscally\neligible municipality, the board shall consider the average full value\nproperty tax rate of such public employer and the average fund balance\npercentage of such public employer and such other criteria as the board\ndeems relevant. For purposes of this section, "full value property tax\nrate" shall mean the amount to be raised by tax on real estate by a\nlocal government in a given fiscal year divided by the full valuation of\ntaxable real estate for that same fiscal year as reported to the office\nof the state comptroller; "average full value property tax rate" shall\nmean the sum of the full value property tax rates for the five most\nrecent fiscal years divided by five; "fund balance percentage" shall\nmean the total fund balance in the general fund of a local government in\na given fiscal year divided by the total expenditures from the general\nfund for that same fiscal year as reported to the office of the state\ncomptroller; and "average fund balance percentage" shall mean the sum of\nthe fund balance percentages for the five most recently completed fiscal\nyears divided by five.\n (a) If the average full value property tax rate of such municipality\nis greater than the average full value property tax rate of seventy-five\npercent of counties, cities, towns, and villages, with local fiscal\nyears ending in the same calendar year as of the most recently available\ninformation, the board must find that such municipality is a fiscally\neligible municipality. The office of the state comptroller shall make\npublicly available the l
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