NY State Senate Bill 2023-S8523

Current Bill Status - In Senate Committee Higher Education 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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 08, 2024	referred to higher education

co-Sponsors

2023-S8523 (ACTIVE) - Details

See Assembly Version of this Bill:: A9200
Current Committee:: Senate Higher Education
Law Section:: Education Law
Laws Affected:: Add Art 5 Part 2-A §§286 - 289-b, Ed L

2023-S8523 (ACTIVE) - Summary

Establishes the SUNY downstate medical support fund to provide financial support for infrastructural upgrades and expansion; facilitates research and development grants in medical and health-related fields; offers scholarships and financial aid; supports community health initiatives and outreach programs.

2023-S8523 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S8523

SPONSOR: PARKER
 
TITLE OF BILL:

An act to amend the education law, in relation to financing for SUNY
downstate medical center

 
PURPOSE:

This legislation amends the education law to create a special fund that
shall consist of monies raised through the issuance of bonds as other-
wise authorized by law, grants from any governmental unit, and any addi-
tional appropriations to provide financial support to eligible insti-
tutions for infrastructural upgrades and expansions; facilitate research
and development grants; offer scholarships and financial aid to students
attending eligible institutions; and support community health initi-
atives and outreach programs led by eligible institutions.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1. Short title of the bill: SUNY Downstate Medical Support Act

of 2024.

Section 2 amends Article 5 of the education law by adding a new part
2-A.

Section 3 provides the severability clause.

Section 4 sets forth the effective date.

 
JUSTIFICATION:

In preparing future doctors, nurses, and other medical workers, SUNY
Downstate Medical Center is an indispensable institution. A designated
fund would guarantee that the school maintains its position as a leader
in medical education, which is crucial considering the intricacies and
ongoing changes in medical science.  As a key healthcare provider to a
varied and highly populated urban neighborhood, SUNY Downstate plays an
important role in providing vital medical services. Individuals who may
be unable to afford adequate medical treatment in the future would be
able to do so with the help of a financial instrument fund.

Much of the region's employment and economic activity comes from SUNY
Downstate's operations. The local and state economies would benefit from
a dedicated fund's solid financial footing, which would stabilize and
maybe increase this influence.

This fund would provide a reliable way to support important infrastruc-
ture projects, such as keeping SUNY Downstate's facilities up-to-date
and ready to provide world-class healthcare.

Higher education institutions face financial sustainability problems due
to budgetary challenges and variations in funding streams. To ensure the
institution's financial stability in the long run, this fund would act
as a buffer against these concerns.

Society as a whole would reap the benefits of these initiatives' efforts
to reduce health inequalities and increase wellness.
The establishment of the SUNY Downstate Special Financial Instrument
Fund is a morally important measure to safeguard the institution and the
entire ecosystem that depends on it, considering the possible advan-
tages.

 
LEGISLATIVE HISTORY:

New Bill

 
FISCAL IMPLICATIONS:

 
EFFECTIVE PATE:

This act shall take effect immediately.

2023-S8523 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8523
 
                             I N  S E N A T E
 
                             February 8, 2024
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Higher Education
 
 AN ACT to amend the education law, in relation  to  financing  for  SUNY
   downstate medical center
 
   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 "SUNY down-
 state medical support act of 2024".
   § 2. Article 5 of the education law is amended by adding  a  new  part
 2-A to read as follows:
 
                                 PART 2-A
                    SUNY DOWNSTATE MEDICAL SUPPORT FUND
 SECTION 286. DEFINITIONS.
         287.  ESTABLISHMENT OF THE FUND.
         288.  OBJECTIVES OF THE FUND.
         289.  CAPITALIZATION OF THE FUND.
         289-A. ADMINISTRATION OF THE FUND.
         289-B. OVERSIGHT AND ACCOUNTABILITY.
 § 286. DEFINITIONS. AS USED IN THIS PART:
   1. "FUND" REFERS TO THE SUNY DOWNSTATE MEDICAL SUPPORT FUND.
   2.  "INSTITUTION"  REFERS  TO  ANY  SUNY  DOWNSTATE  MEDICAL CENTER OR
 HEALTH-RELATED INSTITUTION.
   3. "ELIGIBLE INSTITUTION" REFERS TO ANY INSTITUTION  UNDER  THE  STATE
 UNIVERSITY OF NEW YORK (SUNY) SYSTEM PRIMARILY INVOLVED IN HEALTH EDUCA-
 TION, RESEARCH, AND PATIENT CARE.
   §  287.  ESTABLISHMENT  OF  THE FUND. 1. THERE IS HEREBY ESTABLISHED A
 SPECIAL FUND TO BE KNOWN AS THE "SUNY DOWNSTATE MEDICAL SUPPORT FUND".
   2. THE FUND SHALL CONSIST OF MONIES RAISED  THROUGH  THE  ISSUANCE  OF
 BONDS AS OTHERWISE AUTHORIZED BY LAW, GRANTS FROM ANY GOVERNMENTAL UNIT,
 AND  ANY  ADDITIONAL  APPROPRIATIONS AS SET FORTH IN SECTION TWO HUNDRED
 EIGHTY-NINE OF THIS PART.
   § 288. OBJECTIVES OF THE FUND. THE FUND SHALL BE DEDICATED TO:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14467-01-4

 S. 8523                             2
 
   1. PROVIDING FINANCIAL SUPPORT TO ELIGIBLE  INSTITUTIONS  FOR  INFRAS-
 TRUCTURAL UPGRADES AND EXPANSION;
   2. FACILITATING RESEARCH AND DEVELOPMENT GRANTS IN MEDICAL AND HEALTH-
 RELATED FIELDS;
   3.  OFFERING  SCHOLARSHIPS  AND  FINANCIAL  AID  TO STUDENTS ATTENDING
 ELIGIBLE INSTITUTIONS; AND
   4. SUPPORTING COMMUNITY HEALTH INITIATIVES AND OUTREACH  PROGRAMS  LED
 BY ELIGIBLE INSTITUTIONS.
   §  289.  CAPITALIZATION  OF THE FUND. 1. THE INITIAL CAPITALIZATION OF
 THE FUND SHALL BE ATTAINED THROUGH THE ISSUANCE OF REVENUE BONDS BY  THE
 STATE TREASURY.
   2.  BONDS  SHALL  BE TAX-EXEMPT TO ENCOURAGE INVESTMENTS BY INDIVIDUAL
 AND INSTITUTIONAL INVESTORS.
   3. THE STATE SHALL PLEDGE TO ALLOCATE A PORTION  OF  ANNUAL  BUDGETARY
 SURPLUSES  TO  THE FUND TO ENSURE ITS GROWTH AND SUSTAINABILITY, SUBJECT
 TO LEGISLATIVE APPROPRIATION.
   § 289-A. ADMINISTRATION OF THE FUND. 1. THE FUND SHALL BE ADMINISTERED
 BY A BOARD CONSISTING OF THE CHANCELLOR OF  THE  STATE  UNIVERSITY,  THE
 PRESIDENT OF SUNY DOWNSTATE MEDICAL CENTER, AND THREE ADDITIONAL MEMBERS
 APPOINTED BY THE GOVERNOR, WITH ADVICE AND CONSENT FROM THE LEGISLATURE.
   2.  THE  BOARD  SHALL  MEET QUARTERLY TO REVIEW THE PERFORMANCE OF THE
 FUND, AUTHORIZE DISBURSEMENTS, AND ENSURE COMPLIANCE WITH THE OBJECTIVES
 OF THIS PART.
   3. AN ANNUAL REPORT SHALL BE SUBMITTED TO  THE  LEGISLATURE  DETAILING
 THE FUND'S ACTIVITIES, FINANCIAL HEALTH, AND CONTRIBUTIONS TO THE ELIGI-
 BLE INSTITUTIONS.
   §  289-B.  OVERSIGHT AND ACCOUNTABILITY. 1. THE MANAGEMENT OF THE FUND
 SHALL BE SUBJECT  TO  OVERSIGHT  BY  THE  LEGISLATIVE  HIGHER  EDUCATION
 COMMITTEES.
   2.  THE  OVERSIGHT  COMMITTEES  SHALL  CONDUCT A JOINT ANNUAL AUDIT TO
 ENSURE PROPER USE OF THE FUND'S RESOURCES.
   § 3. Severability. If any clause,  sentence,  paragraph,  subdivision,
 section  or part of this act shall be adjudged by any court of competent
 jurisdiction to be invalid, such judgment shall not affect,  impair,  or
 invalidate the remainder thereof, but shall be confined in its operation
 to the clause, sentence, paragraph, subdivision, section or part thereof
 directly  involved  in the controversy in which such judgment shall have
 been rendered. It is hereby declared to be the intent of the legislature
 that this act would have been enacted even if  such  invalid  provisions
 had not been included herein.
   § 4. This act shall take effect immediately.

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Senate Bill S8523

Sponsored By

Current Bill Status - In Senate Committee Higher Education Committee

co-Sponsors

2023-S8523 (ACTIVE) - Details

2023-S8523 (ACTIVE) - Summary

2023-S8523 (ACTIVE) - Sponsor Memo

2023-S8523 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S8523

Share this bill

Sponsored By

Kevin S. Parker

Current Bill Status - In Senate Committee Higher Education Committee

co-Sponsors

Luis R. Sepúlveda

2023-S8523 (ACTIVE) - Details

2023-S8523 (ACTIVE) - Summary

2023-S8523 (ACTIVE) - Sponsor Memo

2023-S8523 (ACTIVE) - Bill Text download pdf

Comments