New York S 5104: Relates to the transfer of certain funds from the licensed private career schools tuition reimbursement account to the proprietary vocational school supervision account

Bill Text

STATE OF NEW YORK
________________________________________________________________________
5104
2021-2022 Regular Sessions
IN SENATE
February 23, 2021
___________
Introduced by Sen. LIU -- read twice and ordered printed, and when
printed to be committed to the Committee on Higher Education
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 (underscored) is new; matter in bracketsitalics
[ ] is old law to be omitted.
LBD03642-01-1