Bill Text: NY A04042 | 2019-2020 | General Assembly | Introduced

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Bill Title: Provides that if the net balance of the reimbursement account exceeds two million five hundred thousand dollars, any amount over two million five hundred thousand dollars shall be transferred to the proprietary vocational school supervision account.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2020-01-08 - referred to higher education [A04042 Detail]

Download: New_York-2019-A04042-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          4042
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 31, 2019
                                       ___________
        Introduced  by M. of A. HYNDMAN -- read once and referred to the Commit-
          tee on Higher Education
        AN ACT to amend the education  law,  in  relation  to  the  transfer  of
          certain  funds  from  the  licensed  private  career  schools  tuition
          reimbursement account to the proprietary vocational school supervision
          account
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subdivision  10  of  section 5007 of the education law is
     2  amended by adding a new paragraph i to read as follows:
     3    i. In the event that the net  balance  of  the  tuition  reimbursement
     4  account  is  in  excess of two million five hundred thousand dollars, as
     5  defined in paragraph a of this subdivision, any amount over two  million
     6  five  hundred  thousand  dollars  shall  be  transferred directly to the
     7  proprietary vocational school supervision account upon  request  by  the
     8  commissioner.
     9    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07644-01-9