S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7319
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 24, 2017
                                ___________
 
 Introduced  by  M. of A. ARROYO -- Multi-Sponsored by -- M. of A. BLAKE,
   COOK, CRESPO, DINOWITZ, HOOPER, HYNDMAN, MOSLEY, ORTIZ, SIMON --  read
   once and referred to the Committee on Higher Education
 
 AN ACT to amend the education law, in relation to requiring institutions
   of  higher  education  to  maintain and report information on students
   withdrawing from such institutions because of credit card debt, and to
   provide new students a course of instruction on  the  implications  of
   establishing a bad credit rating, and authorizing such institutions to
   regulate  the on campus activities of credit card issuers; and provid-
   ing for the repeal of certain provisions upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 6430 of the education law is amended by adding two
 new subdivisions 7 and 8 to read as follows:
   7. A. THE TRUSTEES OR OTHER GOVERNING BODY  OF  EVERY  INSTITUTION  OF
 HIGHER EDUCATION IN THIS STATE SHALL ADOPT AND IMPLEMENT RULES AND REGU-
 LATIONS  REQUIRING  THAT  EVERY STUDENT WHO WITHDRAWS FROM SUCH INSTITU-
 TION, FOR A REASON OTHER THAN DEATH OR  GRADUATION,  BE  INTERVIEWED  TO
 DETERMINE  WHETHER  SUCH  WITHDRAWAL  WAS  CAUSED  BY  CREDIT  CARD DEBT
 INCURRED BY THE STUDENT. SUCH RULES AND REGULATIONS  SHALL  REQUIRE  THE
 MAINTENANCE  OF  RECORDS  OF THOSE STUDENTS WITHDRAWING AS THE RESULT OF
 CREDIT CARD DEBT.
   B. EACH SUCH INSTITUTION SHALL ANNUALLY SUBMIT A REPORT, ON OR  BEFORE
 THE  FIFTEENTH  DAY  OF OCTOBER, TO THE GOVERNOR, TEMPORARY PRESIDENT OF
 THE SENATE AND SPEAKER OF THE ASSEMBLY ON THE  NUMBER  OF  STUDENTS  WHO
 HAVE  WITHDRAWN  FROM  THE  INSTITUTION DURING THE IMMEDIATELY PRECEDING
 ACADEMIC YEAR.
   C. THE TRUSTEES OR OTHER GOVERNING BODY OF EVERY INSTITUTION OF HIGHER
 EDUCATION IN THIS STATE SHALL ESTABLISH A COURSE OF INSTRUCTION,  TO  BE
 ADMINISTERED  DURING  THE ORIENTATION OF ALL NEWLY ADMITTED STUDENTS, ON
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02380-01-7
              

 A. 7319                             2
 
 THE IMPLICATIONS OF ESTABLISHING A BAD CREDIT  RATING.  SUCH  COURSE  OF
 INSTRUCTION SHALL CONSTITUTE A CREDIT COURSE.
   D.  FOR THE PURPOSES OF THIS SUBDIVISION, "CREDIT CARD" SHALL HAVE THE
 SAME MEANING AS ASCRIBED TO SUCH TERM BY SECTION FIVE HUNDRED ELEVEN  OF
 THE GENERAL BUSINESS LAW.
   8.  A.  THE  TRUSTEES  OR OTHER GOVERNING BODY OF EVERY INSTITUTION OF
 HIGHER EDUCATION IN THIS STATE SHALL ADOPT AND IMPLEMENT RULES AND REGU-
 LATIONS:
   (1) PROHIBITING ISSUERS OF CREDIT CARDS, WHILE ON THE CAMPUS  OF  SUCH
 INSTITUTION,  FROM OFFERING ANY INCENTIVE TO STUDENTS WHO AGREE TO APPLY
 FOR A CREDIT CARD;
   (2) REQUIRING EVERY ISSUER OF CREDIT CARDS TO REGISTER WITH THE INSTI-
 TUTION PRIOR TO ANY SOLICITATION UPON THE CAMPUS THEREOF; AND
   (3) REQUIRING EVERY ISSUER OF CREDIT CARDS TO PROVIDE  DEBT  EDUCATION
 MATERIALS AT EACH ON CAMPUS SITE FOR THE SOLICITATION OF THE ISSUANCE OF
 A CREDIT CARD.
   B. THE REQUIREMENTS OF THIS SUBDIVISION SHALL BE DEEMED TO BE IN ADDI-
 TION  TO THE REQUIREMENTS APPLICABLE TO ISSUERS OF CREDIT CARDS PURSUANT
 TO ANY OTHER PROVISION OF LAW.
   C. THE TERMS "CREDIT CARD" AND "ISSUER" SHALL HAVE THE  SAME  MEANINGS
 AS  ARE  ASCRIBED  TO  SUCH  TERMS BY SECTION FIVE HUNDRED ELEVEN OF THE
 GENERAL BUSINESS LAW.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law, provided that paragraph b of subdivision 7 of section
 6430  of  the  education law, as added by section one of this act, shall
 expire and be deemed repealed October 16, 2020.