Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 12, 2014 |
referred to higher education delivered to assembly passed senate |
Jun 11, 2014 |
ordered to third reading cal.1360 committee discharged and committed to rules |
Jun 09, 2014 |
referred to higher education |
Senate Bill S7791
2013-2014 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2013-S7791 (ACTIVE) - Details
2013-S7791 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7791 TITLE OF BILL: An act to amend the education law and the state finance law, in relation to establishing the New York student affordable refi- nancing for tomorrow program (New START) Purpose: The purpose of this bill is to establish the New York student affordable refinancing for tomorrow program (New Start), to authorize the state to pay a certain about of a student's education loan debt and establish a mechanism for such student to pay back the state at a low interest rate and based on such student's income. Summary of Provisions: Section 1. Amends Article 14 of the education law to add five new sections, 694-c-694-g, to establish the New York Student Affordable Refinancing for Tomorrow Program (New Start); 694-c- provides definitions; 694-d -Creates the New Start program; 649-e- Provides for program eligibility;
2013-S7791 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7791 I N S E N A T E June 9, 2014 ___________ Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education AN ACT to amend the education law and the state finance law, in relation to establishing the New York student affordable refinancing for tomor- row program (New START) THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Article 14 of the education law is amended by adding a new part VI to read as follows: PART VI NEW YORK STUDENT AFFORDABLE REFINANCING FOR TOMORROW PROGRAM (NEW START) SECTION 694-C. DEFINITIONS. 694-D. NEW YORK STUDENT AFFORDABLE REFINANCING FOR TOMORROW PROGRAM (NEW START) 694-E. PROGRAM ELIGIBILITY. 694-F. PROGRAM. 694-G. REPAYMENT. S 694-C. DEFINITIONS. FOR PURPOSES OF THIS PART, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: 1. "EDUCATION LOAN" SHALL MEAN ANY STUDENT LOAN THAT THE STATE REFINANCES UNDER THE PROGRAM THAT WAS OBTAINED BY A BORROWER FOR THE PURPOSES OF ATTENDING COLLEGE AT THE STATE UNIVERSITY OF NEW YORK OR THE CITY UNIVERSITY OF NEW YORK, PROVIDED, HOWEVER, THAT LOANS PROVIDED BY THE FEDERAL GOVERNMENT, OR LOANS PROVIDED AT AN INTEREST RATE AT OR LOWER THAN THE CURRENT FEDERAL LOAN INTEREST RATE SHALL NOT BE ELIGIBLE FOR REFINANCING UNDER THE PROGRAM. 2. "PARTICIPANT" SHALL MEAN AN INDIVIDUAL WHO HAS INCURRED STUDENT LOAN DEBT FROM A LENDING INSTITUTION OR LENDER TO COVER THE COST OF TUITION AT THE STATE UNIVERSITY OF NEW YORK OR THE CITY UNIVERSITY OF NEW YORK AND HAS APPLIED TO PARTICIPATE AND BEEN ACCEPTED TO PARTICIPATE IN THE PROGRAM. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14210-01-4
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