Bill Text: NY S02165 | 2023-2024 | 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 1-0)

Status: (Introduced) 2023-06-06 - SUBSTITUTED BY A2235 [S02165 Detail]

Download: New_York-2023-S02165-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2165

                               2023-2024 Regular Sessions

                    IN SENATE

                                    January 19, 2023
                                       ___________

        Introduced  by  Sen.  LIU  --  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  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.
                                                                   LBD06031-01-3