Assembly Bill A5411

2023-2024 Legislative Session

Relates to creating the proprietary college tuition reimbursement account

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

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2023-A5411 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Add §212-d, Ed L; add §97-m, St Fin L
Versions Introduced in Other Legislative Sessions:
2019-2020: A8119
2021-2022: A2459

2023-A5411 (ACTIVE) - Summary

Relates to degree-granting proprietary colleges; creates the proprietary college tuition reimbursement account for the refund of tuition paid by eligible students asserting certain violations; establishes an assessment to be paid by proprietary schools to fund the account.

2023-A5411 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5411
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 10, 2023
                                ___________
 
 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  degree-granting
   proprietary  colleges; and to amend the state finance law, in relation
   to creating the proprietary college tuition reimbursement account

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act shall be known and may be cited as the "degree-
 granting proprietary college supervision and student protection act".
   § 2. The education law is amended by adding a  new  section  212-d  to
 read as follows:
   §  212-D.  PROPRIETARY  COLLEGE TUITION REIMBURSEMENT ACCOUNT. 1.  FEE
 ASSESSMENT.  (A) THE COMMISSIONER SHALL ANNUALLY ASSESS  AND  HAVE  EACH
 PROPRIETARY  DEGREE-GRANTING  COLLEGE  PAY A FEE BASED ON THAT COLLEGE'S
 GROSS ANNUAL INCOME INTO A  PROPRIETARY  COLLEGE  TUITION  REIMBURSEMENT
 ACCOUNT. THE GROSS ANNUAL INCOME SHALL BE DETERMINED BY ANNUAL FINANCIAL
 STATEMENTS THAT ARE SUBMITTED TO THE COMMISSIONER.
   (B)  THE  GROSS  ANNUAL  INCOME FEE SHALL BE ASSESSED ACCORDING TO THE
 FOLLOWING SCHEDULE:
                          GROSS ANNUAL INCOME FEE
   GROSS ANNUAL INCOME BETWEEN 0-$199,999 - ASSESSED FEE = $1,000.00
   GROSS  ANNUAL  INCOME  BETWEEN  $200,000-$499,999  -  ASSESSED  FEE  =
 $1,500.00
   GROSS  ANNUAL  INCOME  BETWEEN  $500,000-$999,999  -  ASSESSED  FEE  =
 $2,500.00
   GROSS ANNUAL INCOME BETWEEN $1,000,000-$4,999,999  -  ASSESSED  FEE  =
 $5,000.00
   GROSS  ANNUAL  INCOME  BETWEEN  $5,000,000-$9,999,999 - ASSESSED FEE =
 $10,000.00
   GROSS ANNUAL INCOME BETWEEN $10,000,000 OR  ABOVE  -  ASSESSED  FEE  =
 $20,000.00

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06435-01-3
              

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