Bill Text: NY S06729 | 2023-2024 | General Assembly | Introduced

New York Senate Bill 6729

Introduced

Bill Title: Allows withdrawals from family tuition accounts to pay for treatment of substance use disorder, including detoxification and rehabilitation for the designated beneficiary.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO HIGHER EDUCATION [S06729 Detail]

Download: New_York-2023-S06729-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          6729

                               2023-2024 Regular Sessions

                    IN SENATE

                                       May 5, 2023
                                       ___________

        Introduced  by  Sen. ROLISON -- 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 family tuition account
          withdrawals for treatment of substance use disorder

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

     1    Section  1.  Subdivision  5  of section 695-e of the education law, as
     2  amended by chapter 593 of the laws  of  2003,  is  amended  to  read  as
     3  follows:
     4    5. a. An account owner may withdraw all or part of the balance from an
     5  account on sixty days notice or such shorter period as may be authorized
     6  under  rules  governing the program. Such rules shall include provisions
     7  that will generally enable the determination as to whether a  withdrawal
     8  is a nonqualified withdrawal or a qualified withdrawal.
     9    b.  For  purposes  of  this  subdivision, a qualified withdrawal shall
    10  include a withdrawal in which the account owner withdraws all or part of
    11  a balance from an account to fund treatment of substance  use  disorder,
    12  including  detoxification and rehabilitation, for the designated benefi-
    13  ciary.   Such treatment shall consist of  at  least  fifteen  hours  and
    14  include,  but  need  not  be  limited to, classroom instruction in areas
    15  deemed suitable by the commissioner.
    16    § 2. This act shall take effect immediately.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01838-01-3