S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  299--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced by Sens. THOMAS, BIAGGI, BROOKS, JACKSON, RAMOS -- read twice
   and ordered printed, and when printed to be committed to the Committee
   on  Higher  Education -- recommitted to the Committee on Higher Educa-
   tion 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, in relation to requiring degree-
   granting institutions of higher education  to  make  certain  biennial
   disclosures
 
   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  239-d
 to read as follows:
   §  239-D. BIENNIAL DISCLOSURES. 1. ALL DEGREE-GRANTING INSTITUTIONS OF
 HIGHER EDUCATION OFFERING REGISTERED UNDERGRADUATE PROGRAMS  SHALL  MAKE
 AND  PUBLISH  A  BIENNIAL  REPORT DISCLOSING THE FOLLOWING, BASED ON THE
 MOST RECENT DATA OR CALCULATIONS AVAILABLE,  AND  BASED  ON  AUDITED  OR
 AGENCY-REVIEWED DATA WHENEVER AVAILABLE:
   (A) WHETHER SUCH INSTITUTION IS A DEGREE-GRANTING PROPRIETARY INSTITU-
 TION  OF  HIGHER EDUCATION, A NON-PROFIT INSTITUTION OF HIGHER EDUCATION
 OR A PUBLIC INSTITUTION OF HIGHER EDUCATION;
   (B) EXCEPT FOR PUBLIC INSTITUTIONS OF HIGHER EDUCATION, THE  OWNERSHIP
 OR OWNERSHIP INTEREST AND CONTROL OF SUCH INSTITUTION;
   (C)  WHETHER  THE  INSTITUTION  HAS  THE  AUTHORITY TO CONFER TWO-YEAR
 DEGREES, FOUR-YEAR DEGREES OR BOTH;
   (D) A SCHEDULE OF ALL TUITION,  MANDATORY  FEES  AND  OTHER  MANDATORY
 COSTS  TO ATTEND SUCH INSTITUTION, PER SEMESTER OR, WHEN APPLICABLE, PER
 QUARTER;
   (E) IN THE CASE OF  ANY  DEGREE-GRANTING  PROPRIETARY  INSTITUTION  OF
 HIGHER  EDUCATION, THE GROSS PROFIT OF SUCH INSTITUTION AS STATED IN THE

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02239-05-1
 S. 299--A                           2
 
 INSTITUTION'S MOST RECENT AUDITED FINANCIAL STATEMENT SHALL BE  REPORTED
 AS A DOLLAR AMOUNT;
   (F)  THE  AMOUNT OF ANY DIVIDENDS PAID OR DISTRIBUTIONS OF ANY PART OF
 SUCH INSTITUTION'S INCOME OR PROFITS;
   (G) THE AMOUNT OF SPENDING ON  INSTRUCTION,  POST-ENROLLMENT  ACADEMIC
 SUPPORT,  AND  POST-ENROLLMENT  STUDENT  SERVICES DETERMINED IN A MANNER
 CONSISTENT WITH THE SPENDING CATEGORIES USED BY THE  FEDERAL  INTEGRATED
 POSTSECONDARY  EDUCATION  DATA SYSTEM EXCEPT THE AMOUNTS (I) MAY INCLUDE
 EXPENSES FOR COURSE DESIGN AND INSTRUCTOR SUPPORT  RELATED  TO  DISTANCE
 LEARNING,  AND  (II) SHALL EXCLUDE EXPENSES FOR ADVERTISING, RECRUITING,
 ADMISSIONS, AND OTHER ACTIVITIES RELATED TO STUDENTS NOT YET ENROLLED IN
 AN INSTITUTION.  IN THE CASE OF PUBLICLY FUNDED INSTITUTIONS,  REPORTING
 OF SUCH EXPENSES IS REQUIRED WHEN THOSE EXPENSES EXCEED TWO  PERCENT  OF
 THE OPERATING FUNDS DERIVED FROM STATE SOURCES;
   (H) EXECUTIVE COMPENSATION OF SUCH INSTITUTION, INCLUDING, IN THE CASE
 OF  PROPRIETARY INSTITUTIONS, DIVIDENDS, DISTRIBUTIONS, AND INCREASES IN
 THE VALUE OF OWNERSHIP INTERESTS, EXPRESSED BOTH AS A DOLLAR AMOUNT  AND
 AS A PERCENTAGE OF THE OVERALL BUDGET OF SUCH INSTITUTION;
   (I)  MARKETING  AND  RECRUITMENT  EXPENDITURES AS STATED IN THE INSTI-
 TUTION'S MOST RECENTLY AUDITED FINANCIAL STATEMENT  SHALL  BE  EXPRESSED
 BOTH  AS  A  DOLLAR  AMOUNT AND AS A PERCENTAGE OF THE OVERALL BUDGET OF
 SUCH INSTITUTION.  IN THE CASE OF PUBLICLY FUNDED INSTITUTIONS,  REPORT-
 ING OF SUCH EXPENSES IS REQUIRED WHEN THOSE EXPENSES EXCEED TWO  PERCENT
 OF THE OPERATING FUNDS DERIVED FROM STATE SOURCES; AND
   (J)  WHEN  SUCH INFORMATION IS PUBLICLY AVAILABLE OR ACCESSIBLE TO THE
 INSTITUTION:
   (I) MEDIAN EARNINGS ONE YEAR AFTER GRADUATING  FROM  SUCH  INSTITUTION
 SEPARATED BY PROGRAM;
   (II)  THE  PERCENTAGE OF STUDENTS WHO TAKE OUT FEDERAL LOANS TO ATTEND
 SUCH INSTITUTION;
   (III) THE AVERAGE DOLLAR AMOUNT OF FEDERAL LOANS TAKEN OUT BY STUDENTS
 TO ATTEND SUCH INSTITUTION;
   (IV) THE AVERAGE DOLLAR AMOUNT OF PRIVATE LOANS TAKEN OUT BY  STUDENTS
 TO ATTEND SUCH INSTITUTION;
   (V)  THE AMOUNT IN DOLLARS THAT SUCH INSTITUTION RECEIVES FROM THE NEW
 YORK STATE TUITION ASSISTANCE PROGRAM;
   (VI) THE PERCENTAGE OF STUDENTS WHO TOOK OUT A FEDERAL LOAN TO  ATTEND
 SUCH INSTITUTION WHO HAVE REPAID AT LEAST ONE DOLLAR OF THE PRINCIPAL OF
 SUCH LOAN WITHIN FIVE YEARS OF LEAVING SUCH INSTITUTION; AND
   (VII)  THE  DEFAULT  RATE AFTER THREE, FIVE, AND TEN YEARS OF STUDENTS
 WHO TOOK OUT A FEDERAL LOAN (OR PRIVATE LOAN,  IF  SUCH  INFORMATION  IS
 ACCESSIBLE TO THE INSTITUTION) TO ATTEND SUCH INSTITUTION.
   2. (A) BIENNIALLY ON OR BEFORE THE FIRST DAY OF JULY, EACH INSTITUTION
 OF  HIGHER  EDUCATION  SHALL  CONSPICUOUSLY  PUBLISH THE REPORT PREPARED
 PURSUANT TO SUBDIVISION ONE OF THIS  SECTION  ON  THE  WEBSITE  OF  SUCH
 INSTITUTION AND SUBMIT THE WEBSITE ADDRESS OF SUCH REPORT TO THE DEPART-
 MENT.
   (B)  THE COMMISSIONER SHALL PUBLISH AND MAINTAIN A LIST OF ALL WEBSITE
 ADDRESSES RECEIVED PURSUANT TO PARAGRAPH (A) OF THIS SUBDIVISION ON  THE
 WEBSITE OF THE DEPARTMENT.
   §  2. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a law. Effective immediately,
 the addition, amendment and/or repeal of any rule or  regulation  neces-
 sary  for  the  implementation  of  this  act  on its effective date are
 authorized to be made and completed on or before such effective date.