Bill Text: NY A09200 | 2023-2024 | General Assembly | Introduced
Bill Title: 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.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced) 2024-02-14 - referred to higher education [A09200 Detail]
Download: New_York-2023-A09200-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 9200 IN ASSEMBLY February 14, 2024 ___________ Introduced by M. of A. CUNNINGHAM -- 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: 1 Section 1. This act shall be known and may be cited as the "SUNY down- 2 state medical support act of 2024". 3 § 2. Article 5 of the education law is amended by adding a new part 4 2-A to read as follows: 5 PART 2-A 6 SUNY DOWNSTATE MEDICAL SUPPORT FUND 7 Section 286. Definitions. 8 287. Establishment of the fund. 9 288. Objectives of the fund. 10 289. Capitalization of the fund. 11 289-a. Administration of the fund. 12 289-b. Oversight and accountability. 13 § 286. Definitions. As used in this part: 14 1. "Fund" refers to the SUNY downstate medical support fund. 15 2. "Institution" refers to any SUNY downstate medical center or 16 health-related institution. 17 3. "Eligible institution" refers to any institution under the state 18 university of New York (SUNY) system primarily involved in health educa- 19 tion, research, and patient care. 20 § 287. Establishment of the fund. 1. There is hereby established a 21 special fund to be known as the "SUNY downstate medical support fund". 22 2. The fund shall consist of monies raised through the issuance of 23 bonds as otherwise authorized by law, grants from any governmental unit, 24 and any additional appropriations as set forth in section two hundred 25 eighty-nine of this part. 26 § 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. LBD14467-01-4A. 9200 2 1 1. Providing financial support to eligible institutions for infras- 2 tructural upgrades and expansion; 3 2. Facilitating research and development grants in medical and health- 4 related fields; 5 3. Offering scholarships and financial aid to students attending 6 eligible institutions; and 7 4. Supporting community health initiatives and outreach programs led 8 by eligible institutions. 9 § 289. Capitalization of the fund. 1. The initial capitalization of 10 the fund shall be attained through the issuance of revenue bonds by the 11 state treasury. 12 2. Bonds shall be tax-exempt to encourage investments by individual 13 and institutional investors. 14 3. The state shall pledge to allocate a portion of annual budgetary 15 surpluses to the fund to ensure its growth and sustainability, subject 16 to legislative appropriation. 17 § 289-a. Administration of the fund. 1. The fund shall be administered 18 by a board consisting of the chancellor of the state university, the 19 president of SUNY downstate medical center, and three additional members 20 appointed by the governor, with advice and consent from the legislature. 21 2. The board shall meet quarterly to review the performance of the 22 fund, authorize disbursements, and ensure compliance with the objectives 23 of this part. 24 3. An annual report shall be submitted to the legislature detailing 25 the fund's activities, financial health, and contributions to the eligi- 26 ble institutions. 27 § 289-b. Oversight and accountability. 1. The management of the fund 28 shall be subject to oversight by the legislative higher education 29 committees. 30 2. The oversight committees shall conduct a joint annual audit to 31 ensure proper use of the fund's resources. 32 § 3. Severability. If any clause, sentence, paragraph, subdivision, 33 section or part of this act shall be adjudged by any court of competent 34 jurisdiction to be invalid, such judgment shall not affect, impair, or 35 invalidate the remainder thereof, but shall be confined in its operation 36 to the clause, sentence, paragraph, subdivision, section or part thereof 37 directly involved in the controversy in which such judgment shall have 38 been rendered. It is hereby declared to be the intent of the legislature 39 that this act would have been enacted even if such invalid provisions 40 had not been included herein. 41 § 4. This act shall take effect immediately.
