Assembly Bill A8970

2011-2012 Legislative Session

Enacts the "New York state family tuition investment program act" to provide for the advance purchase of tuition to colleges in the state

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A8970 (ACTIVE) - Details

See Senate Version of this Bill:
S3381
Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Add Art 14-B §§696 - 696-k, Ed L; add §78-c, St Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: S5359
2013-2014: A408, S1652
2015-2016: A1554, S20
2017-2018: A1554, S2485
2019-2020: A6500
2021-2022: A1345

2011-A8970 (ACTIVE) - Summary

Enacts the "New York state family tuition investment program act" to provide for the advance purchase of tuition to colleges in the state.

2011-A8970 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8970

                          I N  A S S E M B L Y

                            January 10, 2012
                               ___________

Introduced  by  M.  of  A. MAGNARELLI, MILLMAN, PAULIN, REILLY -- Multi-
  Sponsored by -- M. of A.   HEASTIE, MAGEE, McENENY --  read  once  and
  referred to the Committee on Higher Education

AN ACT to amend the education law and the state finance law, in relation
  to establishing the New York state family tuition investment program

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Legislative findings.  The  legislature  hereby  finds  and
declares  that it is an essential function of state government to foster
higher education in order to provide for a well-educated and financially
secure population. The legislature further finds that the cost of higher
education is becoming less affordable and predictable, adversely affect-
ing the ability of individuals and families to plan  for  future  educa-
tional  expenses.  The  legislature further finds that it is in the best
interests of the state to provide its citizens with financing assistance
for higher education and protection against rising costs, and to encour-
age savings to enhance the ability of residents of New  York  to  obtain
financial  access to institutions of higher education.  Accordingly, the
legislature finds and declares that the creation of the New  York  state
family  tuition  investment  program for the advance purchase of tuition
will help to make higher education affordable and accessible to all  New
York's students, to the ultimate benefit of all citizens of the state.
  S 2. The education law is amended by adding a new article 14-B to read
as follows:
                              ARTICLE 14-B
                      NEW YORK STATE FAMILY TUITION
                         INVESTMENT PROGRAM ACT
SECTION 696.   SHORT TITLE.
        696-A. DEFINITIONS.
        696-B. NEW   YORK   STATE  FAMILY  TUITION  INVESTMENT  PROGRAM;
                 PURPOSE.
        696-C. POWERS AND DUTIES OF THE HIGHER EDUCATION SERVICES CORPO-
                 RATION.
        696-D. PREPAYMENT AGREEMENTS; PRICING; REDEMPTION.

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

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