Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jun 15, 2016 | referred to higher education delivered to assembly passed senate |
Jun 01, 2016 | ordered to third reading cal.1203 committee discharged and committed to rules |
May 17, 2016 | reported and committed to finance |
Feb 05, 2016 | print number 522a |
Feb 05, 2016 | amend and recommit to higher education |
Jan 06, 2016 | referred to higher education |
Jan 07, 2015 | referred to higher education |
senate Bill S522A
Sponsored By
Kenneth P. LaValle
(R) 0 Senate District
Archive: Last Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Bill Amendments
S522 - Details
S522 - Summary
Establishes the New York student affordable refinancing for tomorrow program (New START) for the purpose of relieving student debt by directly paying an eligible participant's loan debt to the lending institution or lender and providing a repayment plan whereby payments will be deposited in the fund.
S522 - Sponsor Memo
BILL NUMBER: S522 TITLE OF BILL : An act to amend the education law and the state finance law, in relation to establishing the New York student affordable refinancing for tomorrow program (New START) PURPOSE : To establish the New York student affordable refinancing for tomorrow program (New Start), to authorize the State to pay a certain amount of a student's education loan debt and establish a mechanism for such student to pay back the State at a low interest rate and based on such student's income. SUMMARY OF PROVISIONS : Section 1. Amends Article 14 of the education law to add five new sections 694-c 694-g, to establish the New York Student Affordable Refinancing for Tomorrow Program (New Start); 694-c provides definition; 694-d creates the New Start program; 694-e provides for program eligibility; 694-f provides for program details;
S522 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 522 2015-2016 Regular Sessions I N S E N A T E (PREFILED) January 7, 2015 ___________ Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed 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 student affordable refinancing for tomor- row program (New START) THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Article 14 of the education law is amended by adding a new part VI to read as follows: PART VI NEW YORK STUDENT AFFORDABLE REFINANCING FOR TOMORROW PROGRAM (NEW START) SECTION 694-C. DEFINITIONS. 694-D. NEW YORK STUDENT AFFORDABLE REFINANCING FOR TOMORROW PROGRAM (NEW START) 694-E. PROGRAM ELIGIBILITY. 694-F. PROGRAM. 694-G. REPAYMENT. S 694-C. DEFINITIONS. FOR PURPOSES OF THIS PART, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: 1. "EDUCATION LOAN" SHALL MEAN ANY STUDENT LOAN THAT THE STATE REFINANCES UNDER THE PROGRAM THAT WAS OBTAINED BY A BORROWER FOR THE PURPOSES OF ATTENDING COLLEGE AT THE STATE UNIVERSITY OF NEW YORK OR THE CITY UNIVERSITY OF NEW YORK, PROVIDED, HOWEVER, THAT LOANS PROVIDED BY THE FEDERAL GOVERNMENT, OR LOANS PROVIDED AT AN INTEREST RATE AT OR LOWER THAN THE CURRENT FEDERAL LOAN INTEREST RATE SHALL NOT BE ELIGIBLE FOR REFINANCING UNDER THE PROGRAM. 2. "PARTICIPANT" SHALL MEAN AN INDIVIDUAL WHO HAS INCURRED STUDENT LOAN DEBT FROM A LENDING INSTITUTION OR LENDER TO COVER THE COST OF TUITION AT THE STATE UNIVERSITY OF NEW YORK OR THE CITY UNIVERSITY OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
S522A (ACTIVE) - Details
S522A (ACTIVE) - Summary
Establishes the New York student affordable refinancing for tomorrow program (New START) for the purpose of relieving student debt by directly paying an eligible participant's loan debt to the lending institution or lender and providing a repayment plan whereby payments will be deposited in the fund.
S522A (ACTIVE) - Sponsor Memo
BILL NUMBER: S522A TITLE OF BILL : An act to amend the education law and the state finance law, in relation to establishing the New York student affordable refinancing for tomorrow program (New START) PURPOSE : To establish the New York student affordable refinancing for tomorrow program (New Start), to authorize the State to pay a certain amount of a student's education loan debt and establish a mechanism for such student to pay back the State at a low interest rate and based on such student's income. SUMMARY OF PROVISIONS : Section 1. Amends Article 14 of the education law to add five new sections 694-c 694-g, to establish the New York Student Affordable Refinancing for Tomorrow Program (New Start); 694-c provides definition; 694-d creates the New Start program; 694-e provides for program eligibility; 694-f provides for program details; 694-g provides for program repayment requirements.
S522A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 522--A 2015-2016 Regular Sessions I N S E N A T E (PREFILED) January 7, 2015 ___________ Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education -- recom- mitted to the Committee on Higher Education in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the education law and the state finance law, in relation to establishing the New York student affordable refinancing for tomor- row program (New START) THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Article 14 of the education law is amended by adding a new part VI to read as follows: PART VI NEW YORK STUDENT AFFORDABLE REFINANCING FOR TOMORROW PROGRAM (NEW START) SECTION 694-C. DEFINITIONS. 694-D. NEW YORK STUDENT AFFORDABLE REFINANCING FOR TOMORROW PROGRAM (NEW START) 694-E. PROGRAM ELIGIBILITY. 694-F. PROGRAM. 694-G. REPAYMENT. S 694-C. DEFINITIONS. FOR PURPOSES OF THIS PART, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: 1. "EDUCATION LOAN" SHALL MEAN ANY STUDENT LOAN THAT THE STATE REFINANCES UNDER THE PROGRAM THAT WAS OBTAINED BY A BORROWER FOR THE PURPOSES OF ATTENDING COLLEGE AT THE STATE UNIVERSITY OF NEW YORK OR THE CITY UNIVERSITY OF NEW YORK, PROVIDED, HOWEVER, THAT LOANS PROVIDED BY THE FEDERAL GOVERNMENT, OR LOANS PROVIDED AT AN INTEREST RATE AT OR LOWER THAN THE CURRENT FEDERAL LOAN INTEREST RATE SHALL NOT BE ELIGIBLE FOR REFINANCING UNDER THE PROGRAM. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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