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Sponsors
No co-sponsors yet.
History
- Substituted by A7073
- Advanced to third reading
- 2nd report cal.
- 1st report cal.827
- Referred to higher education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Extends effectiveness of provisions of chapter 434 of the laws of 1999, relating to deposit of excessive funds in proprietary vocational school supervision account
Signed by Governor · Sponsor Deborah Glick
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5376
Title of bill
An act to amend chapter 434 of the laws of 1999, amending the education law relating to licensed private schools and registered business schools, in relation to the effectiveness thereof
Purpose
The purpose of this bill is to extend the sunset provision of paragraph g of subdivision 10 of section 5007 of the education law until December 1, 2015.
Summary of provisions
This bill would amend section 23 of Chapter 566 of the laws of 2007 by extending the effective date of paragraph g of subdivision 10 of section 5007 of the education law until December 1, 2015.
Justification
Proprietary schools licensed by SED after June 30, 1993 are required to pay a "special assessment" that is deposited into the Tuition Reimbursement Account (TRA). SED uses these additional funds to refund student tuition if their schools close or do not properly provide the approved educational program, approved by SED's Bureau of Proprietary School Supervisions (BPSS).
This bill would extend a provision of law that allows TRA funds in excess of $1.5 million to be transferred into the proprietary vocational school supervision account, which helps fund the BPSS. These funds are used to assist SED in their oversight of the proprietary school sector.
The special assessment paid by proprietary sector schools amounts to 3/10 of 1 percent of a single school's gross tuition receipts. The amount of a special assessment payment is based upon such school's financial ability to pay and a school is allowed to make its payment over a five year period. Since 1993, the BPSS has paid out approximately $4.7 million in student tuition refunds from TRA. The special assessment revenue yields approximately $153,000 per year and has helped ensure that the TRA maintains a sufficient balance to meet all student obligations.
Legislative history
New legislation.
Fiscal implications
Undetermined.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.