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Assembly Bill A2470

2021-2022 Legislative Session

Relates to the transfer of certain funds from the licensed private career schools tuition reimbursement account to the proprietary vocational school supervision account

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Archive: Last Bill Status - In Assembly Committee

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2021-A2470 (ACTIVE) - Details

See Senate Version of this Bill:
S5104
Current Committee:
Assembly Ways And Means
Law Section:
Education Law
Laws Affected:
Amd §5007, Ed L
Versions Introduced in Other Legislative Sessions:
2017-2018: A7947, S6510
2019-2020: A4042, S6592
2023-2024: A2235, S2165

2021-A2470 (ACTIVE) - Summary

Provides that if the net balance of the reimbursement account exceeds two million five hundred thousand dollars, any amount over two million five hundred thousand dollars shall be transferred to the proprietary vocational school supervision account.

2021-A2470 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2470
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 19, 2021
                                ___________
 
 Introduced  by M. of A. HYNDMAN -- read once and referred to the Commit-
   tee on Higher Education
 
 AN ACT to amend the education  law,  in  relation  to  the  transfer  of
   certain  funds  from  the  licensed  private  career  schools  tuition
   reimbursement account to the proprietary vocational school supervision
   account

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  10  of  section 5007 of the education law is
 amended by adding a new paragraph i to read as follows:
   I. IN THE EVENT THAT THE NET  BALANCE  OF  THE  TUITION  REIMBURSEMENT
 ACCOUNT  IS  IN  EXCESS OF TWO MILLION FIVE HUNDRED THOUSAND DOLLARS, AS
 DEFINED IN PARAGRAPH A OF THIS SUBDIVISION, ANY AMOUNT OVER TWO  MILLION
 FIVE  HUNDRED  THOUSAND  DOLLARS  SHALL  BE  TRANSFERRED DIRECTLY TO THE
 PROPRIETARY VOCATIONAL SCHOOL SUPERVISION ACCOUNT UPON  REQUEST  BY  THE
 COMMISSIONER.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03642-01-1

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