OYSTER BAY - News 12 Long Island has learned there are calls for a fiscal monitor for the Town of Oyster Bay. 

State Assemblyman Charles Lavine is proposing a bill to bring in a state monitor to oversee the town's finances for five years. 

Oyster Bay Town Supervisor John Venditto is against the move, saying he takes responsibility, and is working on a plan to fix the issues.

This spring, Standard and Poors dropped the Town's status to "junk."

The proposed legislation says the monitor would be paid for by Oyster Bay taxpayers.

There is no word on when the bill could start moving through Albany.