S T A T E O F N E W Y O R K
________________________________________________________________________
2475
2013-2014 Regular Sessions
I N A S S E M B L Y
January 15, 2013
___________
Introduced by M. of A. ENGLEBRIGHT -- read once and referred to the
Committee on Local Governments
AN ACT to amend the general municipal law and the education law, in
relation to authorizing industrial development agencies created for
the benefit of a town to establish a scholarship program for students
engaged in a course of study for an associate's, bachelor's or
master's degree in a business related field
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The opening paragraph of section 858 of the general munici-
pal law, as amended by chapter 478 of the laws of 2011, is amended to
read as follows:
The purposes of the agency shall be to promote, develop, encourage and
assist in the acquiring, constructing, reconstructing, improving, main-
taining, equipping and furnishing industrial, manufacturing, warehous-
ing, commercial, research and recreation facilities including industrial
pollution control facilities, educational or cultural facilities, rail-
road facilities, horse racing facilities, automobile racing facilities
and continuing care retirement communities, AND PROVIDE SCHOLARSHIP OR
INTERN SUPPORT TO ELIGIBLE STUDENTS IN A BUSINESS OR INDUSTRY RELATED
FIELD OF STUDY PURSUANT TO SECTION EIGHT HUNDRED FIFTY-EIGHT-C OF THIS
TITLE; provided, however, that, of agencies governed by this article,
only agencies created for the benefit of a county and the agency created
for the benefit of the city of New York shall be authorized to provide
financial assistance in any respect to a continuing care retirement
community; AND PROVIDED, FURTHER, THAT, OF AGENCIES GOVERNED BY THIS
ARTICLE, ONLY AGENCIES CREATED FOR THE BENEFIT OF A TOWN SHALL BE
AUTHORIZED TO PROVIDE FINANCIAL ASSISTANCE IN RESPECT TO ANY SCHOLARSHIP
AND/OR INTERN SUPPORT TO AN ELIGIBLE STUDENT IN A BUSINESS OR INDUSTRY
RELATED FIELD OF STUDY, and thereby advance the job opportunities,
health, general prosperity and economic welfare of the people of the
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05419-01-3
A. 2475 2
state of New York and to improve their recreation opportunities, pros-
perity and standard of living; and to carry out the aforesaid purposes,
each agency shall have the following powers:
S 2. The general municipal law is amended by adding a new section
858-c to read as follows:
S 858-C. SCHOLARSHIP OF STUDENTS ENGAGED IN A BUSINESS RELATED FIELD
OF STUDY. 1. AN AGENCY CREATED FOR THE BENEFIT OF A TOWN SHALL PROVIDE
FINANCIAL ASSISTANCE TO AN EDUCATIONAL INSTITUTION OFFERING A COURSE OF
STUDY FOR A BUSINESS RELATED ASSOCIATE'S, BACHELOR'S OR MASTER'S DEGREE
TO ELIGIBLE STUDENTS. SUCH FINANCIAL ASSISTANCE SHALL ONLY BE PROVIDED
TO THE EXTENT THAT THE AGENCY HAS MONEYS AVAILABLE FROM ACCUMULATED FEES
COLLECTED, NOT OTHERWISE REQUIRED TO BE EXPENDED FOR ANY OTHER PURPOSE
PURSUANT TO THIS ARTICLE.
2. FOR THE PURPOSES OF THIS SECTION, "ELIGIBLE STUDENT" MEANS:
(A) A STUDENT MAINTAINING A 3.25 AVERAGE IN A COURSE OF STUDY LEADING
TO AN ASSOCIATE'S, BACHELOR'S OR MASTER'S DEGREE IN BUSINESS ADMINIS-
TRATION, MANAGEMENT, ACCOUNTING, ECONOMICS, ENGINEERING, ANY NATURAL OR
PHYSICAL SCIENCE, OR ENVIRONMENTAL STUDIES; AND
(B) A STUDENT WHO IS PURSUING ONE OF THESE FIELDS IN THE LAST TWO
YEARS OF A COURSE OF STUDY LEADING TO AN ASSOCIATE'S, BACHELOR'S OR
MASTER'S DEGREE.
S 3. Section 653 of the education law is amended by adding a new
subdivision 8-a to read as follows:
8-A. TO PROMULGATE RULES AND REGULATIONS TO GOVERN THE AWARDING OF
FINANCIAL ASSISTANCE PURSUANT TO SECTION EIGHT HUNDRED FIFTY-EIGHT-C OF
THE GENERAL MUNICIPAL LAW.
S 4. This act shall take effect immediately.