Bill Text: NY S08756 | 2021-2022 | General Assembly | Introduced

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

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Bill Title: Establishes a state university of New York career pilot program to encourage individuals in college to enter the financial planning industry; utilizes campus resources to encourage a well-rounded program and diverse student involvement.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-05-27 - PRINT NUMBER 8756A [S08756 Detail]

Download: New_York-2021-S08756-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8756

                    IN SENATE

                                     April 11, 2022
                                       ___________

        Introduced  by  Sen. MANNION -- 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 establishing  a  state
          university  of  New  York  pilot  program  to encourage individuals in
          college to enter the financial planning industry;  and  providing  for
          the repeal of such provisions upon expiration thereof

          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  355-f
     2  to read as follows:
     3    §  355-f. State university of New York financial career pilot program.
     4  1.  There shall be established by the board of  trustees  of  the  state
     5  university,  a  state  university  of  New  York  financial career pilot
     6  program designed to educate college students on the career opportunities
     7  in the financial planning industry.
     8    2. The board of trustees shall, through its own means or by partnering
     9  with a company that implements financial  career  planning  initiatives,
    10  create a pilot program that:
    11    (a)  in conjunction with the state university, creates a pilot program
    12  that includes:
    13    (i) a paid internship at an approved financial institution;
    14    (ii) career counseling;
    15    (iii) preparation for the security industry essentials exam; and
    16    (iv) a grade point average requirement of 2.8;
    17    (b) in conjunction with the  state  university,  determines  financial
    18  institution  eligibility  criteria  to  receive a student employee which
    19  shall include, but not be limited to, the following:
    20    (i) an application to be completed by the financial institution;
    21    (ii) a mandated, virtual orientation to be attended  by  the  approved
    22  financial institutions' representatives;
    23    (iii)  an  agreement  to pay the student employees at a set wage to be
    24  determined by the board of trustees;
    25    (iv) reporting requirements on student and program success, including,
    26  but not limited to, a mid-semester  and  final  review  of  the  student

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15066-06-2
        S. 8756                             2

     1  employee  including,  but  not  limited  to, the following on a scale of
     2  exceptional, good, fair, and unsatisfactory:
     3    (1) quality of work;
     4    (2) ability to meet deadlines;
     5    (3) written communication skills;
     6    (4) oral communication skills; and
     7    (5) initiative; and
     8    (v) an approved student to mentor ratio; and
     9    (c) in conjunction with the state university, works with the following
    10  state  university  campus resources to create a well-rounded program and
    11  diverse student involvement:
    12    (i) campus multi-cultural center;
    13    (ii) campus career counseling center; and
    14    (iii) any other campus  resource  deemed  necessary  for  the  program
    15  established pursuant to this section.
    16    3. The board of trustees shall be responsible for monitoring the qual-
    17  ity,  appropriateness and effectiveness of such program and shall report
    18  to the legislature within  one  year  of  the  effective  date  of  this
    19  section,  and  on  the  first  of  January  annually thereafter, on such
    20  program's effectiveness.
    21    § 2. This act shall take effect immediately and shall  expire  and  be
    22  deemed repealed three years after such date.