Bill Text: NY S06592 | 2019-2020 | General Assembly | Introduced
Bill Title: Provides that if the net balance of the reimbursement account exceeds two million five hundred thousand dollars, any amount over two million five hundred thousand dollars shall be transferred to the proprietary vocational school supervision account.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO HIGHER EDUCATION [S06592 Detail]
Download: New_York-2019-S06592-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 6592 2019-2020 Regular Sessions IN SENATE June 17, 2019 ___________ Introduced by Sen. LIU -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the education law, in relation to the transfer of certain funds from the licensed private career schools tuition reimbursement account to the proprietary vocational school supervision account The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 10 of section 5007 of the education law is 2 amended by adding a new paragraph i to read as follows: 3 i. In the event that the net balance of the tuition reimbursement 4 account is in excess of two million five hundred thousand dollars, as 5 defined in paragraph a of this subdivision, any amount over two million 6 five hundred thousand dollars shall be transferred directly to the 7 proprietary vocational school supervision account upon request by the 8 commissioner. 9 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07644-01-9