Bill Text: NY S05048 | 2019-2020 | General Assembly | Introduced
Bill Title: Directs the development of materials to be provided to new employees relating to student loan repayment information.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO LABOR [S05048 Detail]
Download: New_York-2019-S05048-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 5048 2019-2020 Regular Sessions IN SENATE April 4, 2019 ___________ Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when printed to be committed to the Committee on Labor AN ACT to amend the labor law, in relation to student loan repayment information The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The labor law is amended by adding a new section 217-a to 2 read as follows: 3 § 217-a. Student loan repayment information to be provided. 1. The 4 commissioner, in consultation with the commissioner of education and the 5 superintendent of financial services, shall develop a notice, pamphlet 6 or other written materials regarding responsibilities and repayment 7 options for student loans. Such materials shall include information 8 about consolidation and alternative federal student loan repayment 9 plans, including income-based programs, that do not require consolidat- 10 ing existing federal student loans, that may be available to borrowers. 11 Such materials shall also provide direction to additional resources 12 including the website for the department of financial services' student 13 lending resource center at www.dfs.ny.gov/studentprotection. 14 2. Every employer in the state shall provide to any person hired on or 15 after the effective date of this section a notice with regard to repay- 16 ment of student loans developed in accordance with this section. 17 3. (a) "Student loan" means any loan to a borrower to finance post- 18 secondary education or expenses related to post-secondary education. 19 (b) "Borrower" means any resident of this state who has received a 20 student loan or agreed in writing to pay a student loan or any person 21 who shares a legal obligation with such resident for repaying a student 22 loan. 23 § 2. This act shall take effect on the one hundred eightieth day after 24 it shall have become a law. Effective immediately, any rules and regu- 25 lations necessary for the timely implementation of this act on its 26 effective date shall be promulgated on or before such effective date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11013-01-9