Assembly Bill A5354

2023-2024 Legislative Session

Relates to limiting certain state aid for universities with large endowments

download bill text pdf

Sponsored By

Current 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2023-A5354 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Add §358-a, Ed L; add §1679-d, Pub Auth L

2023-A5354 (ACTIVE) - Summary

Limits certain state aid for universities with large endowments except to fund tuition assistance programs.

2023-A5354 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5354
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 7, 2023
                                ___________
 
 Introduced  by  M.  of  A.  O'DONNELL  --  read once and referred to the
   Committee on Higher Education
 
 AN ACT to amend the education law and the  public  authorities  law,  in
   relation to state funding for certain higher educational institutions
 
   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  358-a
 to read as follows:
   §  358-A.  LIMITS  ON  STATE AID FOR CERTAIN HIGHER EDUCATIONAL INSTI-
 TUTIONS. NOTWITHSTANDING SECTION THREE HUNDRED FIFTY-EIGHT OF THIS ARTI-
 CLE, OR ANY OTHER PROVISION OF LAW, NO STATE AID SHALL  BE  PROVIDED  TO
 ANY  HIGHER  EDUCATIONAL  INSTITUTION WHICH HAS AN ENDOWMENT OF OVER TEN
 BILLION DOLLARS, AND WHICH IS LOCATED IN A CITY WITH A POPULATION OF ONE
 MILLION OR MORE; PROVIDED, HOWEVER, THAT STATE AID MAY BE  PROVIDED  FOR
 THE PURPOSE OF TUITION ASSISTANCE PROGRAMS.
   §  2.  The  public  authorities law is amended by adding a new section
 1679-d to read as follows:
   § 1679-D. LIMITS ON ISSUING BONDS AND NOTES FOR CERTAIN HIGHER  EDUCA-
 TIONAL  INSTITUTIONS.  NOTWITHSTANDING ANY OTHER PROVISION OF THIS ARTI-
 CLE, THE DORMITORY AUTHORITY OF THE STATE OF NEW YORK  SHALL  NOT  ISSUE
 BONDS  AND  NOTES  FOR  ANY  HIGHER EDUCATIONAL INSTITUTION WHICH HAS AN
 ENDOWMENT OF OVER TEN BILLION DOLLARS AND WHICH IS  LOCATED  IN  A  CITY
 WITH A POPULATION OF ONE MILLION OR MORE.
   § 3. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08632-02-3

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.