S T A T E   O F   N E W   Y O R K
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                                  2822

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2015
                               ___________

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.
                                                           LBD07271-01-5
              

A. 2822                             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.