Bill Text: NY A06812 | 2019-2020 | General Assembly | Introduced


Bill Title: Establishes a private student loan refinance task force to study and report on ways lending institutions offering private student loans to graduates of institutions of higher education can be encouraged to establish student loan refinancing programs.

Spectrum: Partisan Bill (Democrat 27-1)

Status: (Introduced) 2019-03-20 - referred to higher education [A06812 Detail]

Download: New_York-2019-A06812-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          6812
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                     March 20, 2019
                                       ___________
        Introduced  by  M. of A. CRESPO, AUBRY, PERRY, BARRON, KIM, JEAN-PIERRE,
          WALKER, PEOPLES-STOKES, LUPARDO, BLAKE, COLTON, ENGLEBRIGHT,  RICHARD-
          SON,  DE LA ROSA,  JAFFEE, HYNDMAN, JOYNER, MONTESANO, SIMON, DICKENS,
          MOSLEY, D'URSO, L. ROSENTHAL, GUNTHER,  ORTIZ,  SEAWRIGHT,  CAHILL  --
          Multi-Sponsored by -- M. of A. THIELE -- read once and referred to the
          Committee on Higher Education
        AN  ACT  to  establish  a private student loan refinance task force; and
          providing for the repeal of such provisions upon expiration thereof
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. There is hereby established the private student loan refi-
     2  nance task force. The purpose of such task force is to study and analyze
     3  ways lending institutions that offer private student loans to  New  York
     4  graduates  of  institutions  of  higher  education can be incentives and
     5  encouraged to create student loan refinance programs.
     6    § 2. The private student loan refinance task force shall consist of 11
     7  members and shall include: the state comptroller or his or her designee,
     8  the superintendent of financial services or his  or  her  designee,  the
     9  president  of  the  higher  education services corporation or his or her
    10  designee, the chairs and ranking minority  members  of  the  senate  and
    11  assembly  committees  on  higher  education  or  their  designees, and 4
    12  members appointed by the governor from lending institutions in New  York
    13  that  offer  private  student  loans. All appointments of members of the
    14  private student loan refinance task force shall be made  no  later  than
    15  thirty days after the effective date of this act.
    16    §  3. The president of the higher education services corporation shall
    17  be designated as the chairperson of the private student  loan  refinance
    18  task force. The members of the private student loan refinance task force
    19  shall  serve  without compensation, except that members shall be allowed
    20  their necessary and actual expenses incurred in the performance of their
    21  duties under this act.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05722-01-9

        A. 6812                             2
     1    § 4. The private student loan  refinance  task  force  shall  issue  a
     2  report  of  its findings and recommendations to the governor, the tempo-
     3  rary president of the senate and the speaker of the  assembly  no  later
     4  than December 31, 2019.
     5    §  5.  This  act shall take effect immediately and shall expire and be
     6  deemed repealed January 1, 2020.
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