Bill Text: NY A08800 | 2021-2022 | General Assembly | Introduced

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Bill Title: Changes the number of members in the private student loan finance task force from 11 to 13; designates the superintendent of financial services as the chairperson.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-20 - substituted by s7719 [A08800 Detail]

Download: New_York-2021-A08800-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8800

                   IN ASSEMBLY

                                    January 12, 2022
                                       ___________

        Introduced  by  M. of A. CRUZ -- read once and referred to the Committee
          on Higher Education

        AN ACT to amend a chapter of the laws of  2021  establishing  a  private
          student  loan  refinance  task force, as proposed in legislative bills
          numbers S. 2767-A and A. 5423-A, in relation to establishing a private
          student loan refinance task force

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Sections  2 and 3 of a chapter of the laws of 2021 estab-
     2  lishing a private student loan refinance  task  force,  as  proposed  in
     3  legislative  bills  numbers S. 2767-A and A. 5423-A, are amended to read
     4  as follows:
     5    § 2. The private student loan refinance task force  shall  consist  of
     6  [11] 13 members as follows:  the superintendent of financial services or
     7  his  or  her  designee,  the  president of the higher education services
     8  corporation or his or her designee, [three] five  members  appointed  by
     9  the  governor,  two  members appointed by the temporary president of the
    10  senate, one member appointed by the minority leader of the  senate,  two
    11  members  appointed  by  the  speaker  of  the  assembly,  and one member
    12  appointed by the minority leader of the assembly. The appointed  members
    13  shall  include, to the extent practicable, individuals representative of
    14  lending  institutions  and  the  consumer  protection  community.    All
    15  appointments of members of the private student loan refinance task force
    16  shall  be  made  no  later than 90 days after the effective date of this
    17  act.
    18    § 3. The [president of  the  higher  education  services  corporation]
    19  superintendent  of  financial services shall be designated as the chair-
    20  person of the private student loan refinance task force. The members  of
    21  the  private  student  loan  refinance  task  force  shall serve without
    22  compensation, except that members shall be allowed their  necessary  and
    23  actual  expenses  incurred in the performance of their duties under this
    24  act.
    25    § 2. This act shall take effect on the  same  date  and  in  the  same
    26  manner  as  a chapter of the laws of 2021 establishing a private student

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06906-04-2
        A. 8800                             2

     1  loan refinance task force, as proposed in legislative bills  numbers  S.
     2  2767-A  and A.  5423-A, takes effect, provided, however, that the amend-
     3  ments to sections 2 and 3 of a chapter of the laws of 2021  establishing
     4  a  private student loan refinance task force, as proposed in legislative
     5  bills numbers S.  2767-A and A. 5423-A, made by section one of this act,
     6  shall not affect the expiration and repeal of such act, and shall expire
     7  and be deemed repealed therewith.