Assembly Bill A9143B

2021-2022 Legislative Session

Relates to creating the New York state private not-for-profit special education schools revolving loan fund; appropriation

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

2021-A9143 - Details

Current Committee:
Assembly Education
Law Section:
Appropriations
Laws Affected:
Add §4409, Ed L

2021-A9143 - Summary

Creates the New York state private not-for-profit special education schools revolving loan fund to provide zero interest loans to private not-for-profit special education schools in NYC to cover a portion of tuition costs for up to two years; appropriates two hundred million dollars.

2021-A9143 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9143
 
                           I N  A S S E M B L Y
 
                             January 31, 2022
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
   Committee on Education
 
 AN ACT to amend the education law, in relation to creating the New  York
   state  private not-for-profit special education schools revolving loan
   fund; and making an appropriation therefor
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The education law is amended by adding a new section 4409
 to read as follows:
   § 4409. REVOLVING LOAN FUND FOR PRIVATE NOT-FOR-PROFIT SPECIAL  EDUCA-
 TION  SCHOOLS  IN  CITIES  WITH  A POPULATION OF ONE MILLION OR MORE. 1.
 THERE IS HEREBY ESTABLISHED A FUND TO BE KNOWN AS  THE  NEW  YORK  STATE
 PRIVATE  NOT-FOR-PROFIT  SPECIAL  EDUCATION SCHOOLS REVOLVING LOAN FUND.
 SUCH FUND SHALL CONSIST OF MONEYS MADE AVAILABLE PURSUANT  TO  APPROPRI-
 ATION  AND ANY OTHER SOURCES IN ORDER TO PROVIDE SUPPORT TO PRIVATE NOT-
 FOR-PROFIT SCHOOLS FOR SPECIAL EDUCATION STUDENTS OF SCHOOL AGE APPROVED
 PURSUANT TO SECTION FORTY-FOUR HUNDRED FOUR OF THIS  ARTICLE.  THE  FUND
 SHALL  BE  ADMINISTERED  BY  THE DEPARTMENT; PROVIDED, HOWEVER, THAT THE
 COMMISSIONER MAY ENTER INTO AN AGREEMENT WITH A BANK OR TRUST COMPANY TO
 ADMINISTER LOANS UNDER THIS SECTION.
   2. (A) LOANS UNDER THIS SECTION SHALL  BE  INTEREST  FREE,  EXCEPT  AS
 OTHERWISE  PROVIDED  IN THIS SUBDIVISION.   A SCHOOL SHALL BE ALLOWED TO
 SUBMIT ONE LOAN REQUEST APPLICATION EVERY TWO YEARS. THE LENDING  PERIOD
 SHALL  BE  A MAXIMUM OF TWENTY-FOUR MONTHS. A SCHOOL SHALL SUBMIT TO THE
 DEPARTMENT A LOAN REPAYMENT SCHEDULE DETAILING HOW THE FULL AMOUNT  WILL
 BE  REPAID  WITHIN  THE  FINAL NINETY DAYS OF THE TWENTY-FOUR MONTH LOAN
 PERIOD AND COMPLETE ALL PAYMENTS AS PER THAT SCHEDULE. IF A SCHOOL FAILS
 TO COMPLY WITH SUCH SCHEDULE IT WILL NOT RECEIVE ANY NEW  FUNDING  UNTIL
 THE  LOAN  IS  FULLY  REPAID.  AN INTEREST RATE OF SIX PERCENT PER ANNUM
 SHALL BE CHARGED FOR EACH MONTH THAT A LOAN PAYMENT IS IN ARREARS.
   (B) ALL NEW LOAN REQUEST APPLICATIONS SHALL BE SUBMITTED NO LATER THAN
 THE LAST DAY OF THE TWENTY-FIRST MONTH IN  THE  TWENTY-FOUR  MONTH  LOAN
 PERIOD.  THE  COMPTROLLER SHALL DETERMINE IF AVAILABLE FUNDS CAN SATISFY
 THE LOAN REQUESTS OF ALL SUCH ELIGIBLE  APPLICATIONS  BY  THE  FIRST  OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

co-Sponsors

multi-Sponsors

2021-A9143A - Details

Current Committee:
Assembly Education
Law Section:
Appropriations
Laws Affected:
Add §4409, Ed L

2021-A9143A - Summary

Creates the New York state private not-for-profit special education schools revolving loan fund to provide zero interest loans to private not-for-profit special education schools in NYC to cover a portion of tuition costs for up to two years; appropriates two hundred million dollars.

2021-A9143A - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9143--A
 
                           I N  A S S E M B L Y
 
                             January 31, 2022
                                ___________
 
 Introduced  by  M.  of A. CYMBROWITZ, BURDICK, BENEDETTO, ABBATE -- read
   once  and  referred  to  the  Committee  on  Education  --   committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN  ACT to amend the education law, in relation to creating the New York
   state private not-for-profit special education schools revolving  loan
   fund; and making an appropriation therefor
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The education law is amended by adding a new  section  4409
 to read as follows:
   §  4409. REVOLVING LOAN FUND FOR PRIVATE NOT-FOR-PROFIT SPECIAL EDUCA-
 TION SCHOOLS IN CITIES WITH A POPULATION OF  ONE  MILLION  OR  MORE.  1.
 THERE  IS  HEREBY  ESTABLISHED  A FUND TO BE KNOWN AS THE NEW YORK STATE
 PRIVATE NOT-FOR-PROFIT SPECIAL EDUCATION SCHOOLS  REVOLVING  LOAN  FUND.
 SUCH  FUND  SHALL CONSIST OF MONEYS MADE AVAILABLE PURSUANT TO APPROPRI-
 ATION AND ANY OTHER SOURCES IN ORDER TO PROVIDE SUPPORT TO PRIVATE  NOT-
 FOR-PROFIT SCHOOLS FOR SPECIAL EDUCATION STUDENTS OF SCHOOL AGE APPROVED
 PURSUANT  TO  SECTION  FORTY-FOUR HUNDRED FOUR OF THIS ARTICLE. THE FUND
 SHALL BE ADMINISTERED BY THE DEPARTMENT;  PROVIDED,  HOWEVER,  THAT  THE
 COMMISSIONER MAY ENTER INTO AN AGREEMENT WITH A BANK OR TRUST COMPANY TO
 ADMINISTER LOANS UNDER THIS SECTION.
   2.  (A)  LOANS  UNDER  THIS  SECTION SHALL BE INTEREST FREE, EXCEPT AS
 OTHERWISE PROVIDED IN THIS SUBDIVISION.  A SCHOOL SHALL  BE  ALLOWED  TO
 SUBMIT  ONE LOAN REQUEST APPLICATION EVERY TWO YEARS. THE LENDING PERIOD
 SHALL BE A MAXIMUM OF TWENTY-FOUR MONTHS. A SCHOOL SHALL SUBMIT  TO  THE
 DEPARTMENT  A LOAN REPAYMENT SCHEDULE DETAILING HOW THE FULL AMOUNT WILL
 BE REPAID WITHIN THE FINAL NINETY DAYS OF  THE  TWENTY-FOUR  MONTH  LOAN
 PERIOD AND COMPLETE ALL PAYMENTS AS PER THAT SCHEDULE. IF A SCHOOL FAILS
 TO  COMPLY  WITH SUCH SCHEDULE IT WILL NOT RECEIVE ANY NEW FUNDING UNTIL
 THE LOAN IS FULLY REPAID. AN INTEREST RATE  OF  SIX  PERCENT  PER  ANNUM
 SHALL BE CHARGED FOR EACH MONTH THAT A LOAN PAYMENT IS IN ARREARS.
   (B) ALL NEW LOAN REQUEST APPLICATIONS SHALL BE SUBMITTED NO LATER THAN
 THE  LAST  DAY  OF  THE TWENTY-FIRST MONTH IN THE TWENTY-FOUR MONTH LOAN
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

co-Sponsors

multi-Sponsors

2021-A9143B (ACTIVE) - Details

Current Committee:
Assembly Education
Law Section:
Appropriations
Laws Affected:
Add §4409, Ed L

2021-A9143B (ACTIVE) - Summary

Creates the New York state private not-for-profit special education schools revolving loan fund to provide zero interest loans to private not-for-profit special education schools in NYC to cover a portion of tuition costs for up to two years; appropriates two hundred million dollars.

2021-A9143B (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9143--B
 
                           I N  A S S E M B L Y
 
                             January 31, 2022
                                ___________
 
 Introduced  by  M. of A. CYMBROWITZ, BURDICK, BENEDETTO, ABBATE, HEVESI,
   SAYEGH, COLTON, TAPIA, EICHENSTEIN, SIMON, DAVILA, L. ROSENTHAL, COOK,
   ROZIC -- Multi-Sponsored by -- M. of A. BRAUNSTEIN --  read  once  and
   referred  to  the Committee on Education -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee  --  again  reported  from said committee with amendments, ordered
   reprinted as amended and recommitted to said committee
 
 AN ACT to amend the education law, in relation to creating the New  York
   state  private not-for-profit special education schools revolving loan
   fund; and making an appropriation therefor
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The education law is amended by adding a new section 4409
 to read as follows:
   § 4409. REVOLVING LOAN FUND FOR PRIVATE NOT-FOR-PROFIT SPECIAL  EDUCA-
 TION  SCHOOLS.  1. THERE IS HEREBY ESTABLISHED A FUND TO BE KNOWN AS THE
 NEW YORK STATE PRIVATE NOT-FOR-PROFIT SPECIAL EDUCATION SCHOOLS  REVOLV-
 ING LOAN FUND. SUCH FUND SHALL CONSIST OF MONEYS MADE AVAILABLE PURSUANT
 TO  APPROPRIATION  AND  ANY OTHER SOURCES IN ORDER TO PROVIDE SUPPORT TO
 PRIVATE NOT-FOR-PROFIT SCHOOLS FOR SPECIAL EDUCATION STUDENTS OF  SCHOOL
 AGE  APPROVED  PURSUANT TO SECTION FORTY-FOUR HUNDRED FOUR OF THIS ARTI-
 CLE. THE FUND SHALL BE ADMINISTERED BY THE DEPARTMENT; PROVIDED,  HOWEV-
 ER,  THAT  THE  COMMISSIONER  MAY ENTER INTO AN AGREEMENT WITH A BANK OR
 TRUST COMPANY TO ADMINISTER LOANS UNDER THIS SECTION.
   2. (A) LOANS UNDER THIS SECTION SHALL  BE  INTEREST  FREE,  EXCEPT  AS
 OTHERWISE  PROVIDED  IN THIS SUBDIVISION.   A SCHOOL SHALL BE ALLOWED TO
 SUBMIT ONE LOAN REQUEST APPLICATION EVERY TWO YEARS. THE LENDING  PERIOD
 SHALL  BE  A MAXIMUM OF TWENTY-FOUR MONTHS. A SCHOOL SHALL SUBMIT TO THE
 DEPARTMENT A LOAN REPAYMENT SCHEDULE DETAILING HOW THE FULL AMOUNT  WILL
 BE  REPAID  WITHIN  THE  FINAL NINETY DAYS OF THE TWENTY-FOUR MONTH LOAN
 PERIOD AND COMPLETE ALL PAYMENTS AS PER THAT SCHEDULE. IF A SCHOOL FAILS
 TO COMPLY WITH SUCH SCHEDULE IT WILL NOT RECEIVE ANY NEW  FUNDING  UNTIL
 THE  LOAN  IS  FULLY  REPAID.  AN INTEREST RATE OF SIX PERCENT PER ANNUM
 SHALL BE CHARGED FOR EACH MONTH THAT A LOAN PAYMENT IS IN ARREARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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