senate Bill S5048

2019-2020 Legislative Session

Relates to requiring new employees to be provided certain information relating to student loan repayment information

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Labor Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to labor
Apr 04, 2019 referred to labor

S5048 (ACTIVE) - Details

See Assembly Version of this Bill:
A7918
Current Committee:
Senate Labor
Law Section:
Labor Law
Laws Affected:
Add §217-a, Lab L
Versions Introduced in 2021-2022 Legislative Session:
S859, A3495

S5048 (ACTIVE) - Summary

Directs the development of materials to be provided to new employees relating to student loan repayment information.

S5048 (ACTIVE) - Sponsor Memo

S5048 (ACTIVE) - Bill Text download pdf


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

                                  5048

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              April 4, 2019
                               ___________

Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
  printed to be committed to the Committee on Labor

AN  ACT  to  amend  the labor law, in relation to student loan repayment
  information

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

  Section  1.  The labor law is amended by adding a new section 217-a to
read as follows:
  § 217-A. STUDENT LOAN REPAYMENT INFORMATION TO  BE  PROVIDED.  1.  THE
COMMISSIONER, IN CONSULTATION WITH THE COMMISSIONER OF EDUCATION AND THE
SUPERINTENDENT  OF  FINANCIAL SERVICES, SHALL DEVELOP A NOTICE, PAMPHLET
OR OTHER WRITTEN  MATERIALS  REGARDING  RESPONSIBILITIES  AND  REPAYMENT
OPTIONS  FOR  STUDENT  LOANS.  SUCH  MATERIALS SHALL INCLUDE INFORMATION
ABOUT CONSOLIDATION  AND  ALTERNATIVE  FEDERAL  STUDENT  LOAN  REPAYMENT
PLANS,  INCLUDING INCOME-BASED PROGRAMS, THAT DO NOT REQUIRE CONSOLIDAT-
ING EXISTING FEDERAL STUDENT LOANS, THAT MAY BE AVAILABLE TO  BORROWERS.
SUCH  MATERIALS  SHALL  ALSO  PROVIDE  DIRECTION TO ADDITIONAL RESOURCES
INCLUDING THE WEBSITE FOR THE DEPARTMENT OF FINANCIAL SERVICES'  STUDENT
LENDING RESOURCE CENTER AT WWW.DFS.NY.GOV/STUDENTPROTECTION.
  2. EVERY EMPLOYER IN THE STATE SHALL PROVIDE TO ANY PERSON HIRED ON OR
AFTER  THE EFFECTIVE DATE OF THIS SECTION A NOTICE WITH REGARD TO REPAY-
MENT OF STUDENT LOANS DEVELOPED IN ACCORDANCE WITH THIS SECTION.
  3. (A) "STUDENT LOAN" MEANS ANY LOAN TO A BORROWER  TO  FINANCE  POST-
SECONDARY EDUCATION OR EXPENSES RELATED TO POST-SECONDARY EDUCATION.
  (B)  "BORROWER"  MEANS  ANY  RESIDENT OF THIS STATE WHO HAS RECEIVED A
STUDENT LOAN OR AGREED IN WRITING TO PAY A STUDENT LOAN  OR  ANY  PERSON
WHO  SHARES A LEGAL OBLIGATION WITH SUCH RESIDENT FOR REPAYING A STUDENT
LOAN.
  § 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law. Effective immediately, any rules  and  regu-
lations  necessary  for  the  timely  implementation  of this act on its
effective date shall be promulgated on or before such effective date.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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