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Assembly Bill A6811

2017-2018 Legislative Session

Establishes a private student loan refinance task force

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Archive: Last Bill Status - In Assembly Committee

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2017-A6811 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education
Versions Introduced in 2019-2020 Legislative Session:
A6812

2017-A6811 (ACTIVE) - Summary

Establishes a private student loan refinance task force to study and report on ways lending institutions offering private student loans to graduates of institutions of higher education can be encouraged to establish student loan refinancing programs.

2017-A6811 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6811
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 21, 2017
                                ___________
 
 Introduced by M. of A. CRESPO -- read once and referred to the Committee
   on Higher Education
 
 AN  ACT  to  establish  a private student loan refinance task force; 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:
 
   Section  1. There is hereby established the private student loan refi-
 nance task force. The purpose of such task force is to study and analyze
 ways lending institutions that offer private student loans to  New  York
 graduates  of  institutions  of  higher  education can be incentives and
 encouraged to create student loan refinance programs.
   § 2. The private student loan refinance task force shall consist of 11
 members and shall include: the state comptroller or his or her designee,
 the superintendent of financial services or his  or  her  designee,  the
 president  of  the  higher  education services corporation or his or her
 designee, the chairs and ranking minority  members  of  the  senate  and
 assembly  committees  on  higher  education  or  their  designees, and 4
 members appointed by the governor from lending institutions in New  York
 that  offer  private  student  loans. All appointments of members of the
 private student loan refinance task force shall be made  no  later  than
 thirty days after the effective date of this act.
   §  3. The president of the higher education services corporation shall
 be designated as the chairperson of the private student  loan  refinance
 task force. The members of the private student loan refinance task force
 shall  serve  without compensation, except that members shall be allowed
 their necessary and actual expenses incurred in the performance of their
 duties under this act.
   § 4. The private student loan  refinance  task  force  shall  issue  a
 report  of  its findings and recommendations to the governor, the tempo-
 rary president of the senate and the speaker of the  assembly  no  later
 than December 31, 2017.
   §  5.  This  act shall take effect immediately and shall expire and be
 deemed repealed January 1, 2018.

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