Bill Text: NY S00529 | 2023-2024 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Requires degree-granting institutions of higher education to make certain biennial disclosures and to conspicuously publish the report on the website of such institution and submit the website address of such report to the department.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced) 2024-01-03 - REFERRED TO HIGHER EDUCATION [S00529 Detail]

Download: New_York-2023-S00529-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           529

                               2023-2024 Regular Sessions

                    IN SENATE

                                     January 4, 2023
                                       ___________

        Introduced  by  Sens.  THOMAS,  COMRIE, JACKSON, RAMOS -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Higher Education

        AN  ACT  to  amend  the  education law, in relation to requiring degree-
          granting institutions of higher education  to  make  certain  biennial
          disclosures

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The education law is amended by adding a new section  239-d
     2  to read as follows:
     3    §  239-d. Biennial disclosures. 1. All degree-granting institutions of
     4  higher education offering registered undergraduate programs  shall  make
     5  and  publish  a  biennial  report disclosing the following, based on the
     6  most recent data or calculations available,  and  based  on  audited  or
     7  agency-reviewed data whenever available:
     8    (a) whether such institution is a degree-granting proprietary institu-
     9  tion  of  higher education, a non-profit institution of higher education
    10  or a public institution of higher education;
    11    (b) except for public institutions of higher education, the  ownership
    12  or ownership interest and control of such institution;
    13    (c)  whether  the  institution  has  the  authority to confer two-year
    14  degrees, four-year degrees or both;
    15    (d) a schedule of all tuition,  mandatory  fees  and  other  mandatory
    16  costs  to attend such institution, per semester or, when applicable, per
    17  quarter;
    18    (e) in the case of  any  degree-granting  proprietary  institution  of
    19  higher  education, the gross profit of such institution as stated in the
    20  institution's most recent audited financial statement shall be  reported
    21  as a dollar amount;
    22    (f)  the  amount of any dividends paid or distributions of any part of
    23  such institution's income or profits;

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01861-01-3
        S. 529                              2

     1    (g) the amount of spending on  instruction,  post-enrollment  academic
     2  support,  and  post-enrollment  student  services determined in a manner
     3  consistent with the spending categories used by the  federal  Integrated
     4  Postsecondary  Education  Data System except the amounts (i) may include
     5  expenses  for  course  design and instructor support related to distance
     6  learning, and (ii) shall exclude expenses for  advertising,  recruiting,
     7  admissions, and other activities related to students not yet enrolled in
     8  an institution.  In the case of publicly funded institutions,  reporting
     9  of  such  expenses is required when those expenses exceed two percent of
    10  the operating funds derived from state sources;
    11    (h) executive compensation of such institution, including, in the case
    12  of proprietary institutions, dividends, distributions, and increases  in
    13  the  value of ownership interests, expressed both as a dollar amount and
    14  as a percentage of the overall budget of such institution;
    15    (i) marketing and recruitment expenditures as  stated  in  the  insti-
    16  tution's  most  recently  audited financial statement shall be expressed
    17  both as a dollar amount and as a percentage of  the  overall  budget  of
    18  such institution.  In the case of publicly funded institutions,  report-
    19  ing  of such expenses is required when those expenses exceed two percent
    20  of the operating funds derived from state sources; and
    21    (j) when such information is publicly available or accessible  to  the
    22  institution:
    23    (i)  median  earnings  one year after graduating from such institution
    24  separated by program;
    25    (ii) the percentage of students who take out federal loans  to  attend
    26  such institution;
    27    (iii) the average dollar amount of federal loans taken out by students
    28  to attend such institution;
    29    (iv)  the average dollar amount of private loans taken out by students
    30  to attend such institution;
    31    (v) the amount in dollars that such institution receives from the  New
    32  York state tuition assistance program;
    33    (vi)  the percentage of students who took out a federal loan to attend
    34  such institution who have repaid at least one dollar of the principal of
    35  such loan within five years of leaving such institution; and
    36    (vii) the default rate after three, five, and ten  years  of  students
    37  who  took  out  a  federal loan (or private loan, if such information is
    38  accessible to the institution) to attend such institution.
    39    2. (a) Biennially on or before the first day of July, each institution
    40  of higher education shall  conspicuously  publish  the  report  prepared
    41  pursuant  to  subdivision  one  of  this  section on the website of such
    42  institution and submit the website address of such report to the depart-
    43  ment.
    44    (b) The commissioner shall publish and maintain a list of all  website
    45  addresses  received pursuant to paragraph (a) of this subdivision on the
    46  website of the department.
    47    § 2. This act shall take effect on the first of January next  succeed-
    48  ing the date on which it shall have become a law. Effective immediately,
    49  the  addition,  amendment and/or repeal of any rule or regulation neces-
    50  sary for the implementation of  this  act  on  its  effective  date  are
    51  authorized to be made and completed on or before such effective date.