Assembly Bill A4549

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4549
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2025
                                ___________
 
 Introduced  by  M. of A. CUNNINGHAM, DAVILA -- read once and referred 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".
   § 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,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06575-01-5
 A. 4549                             2
              

 
 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:
   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.