New York A 4549: Establishes the SUNY downstate medical support fund

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A04549 Summary:

BILL NOA04549 

&nbsp

SAME ASSAME AS S06193

&nbsp

SPONSORCunningham

&nbsp

COSPNSRDavila, Steck

&nbsp

MLTSPNSR

&nbsp

Add Art 5 Part 2-A §§286 - 289-b, Ed L

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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.

Go to top A04549 Actions:

BILL NOA04549 

&nbsp

02/04/2025referred to higher education

01/07/2026referred to higher education

Go to topA04549 Committee&nbspVotes:

Go to topA04549 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04549 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4549

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 4, 2025
 ___________

 Introduced by M. of A. CUNNINGHAM, DAVILA -- 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".
 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,

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06575-01-5

 A. 4549 2

 1 and any additional appropriations as set forth in section two hundred
 2 eighty-nine of this part.
 3 § 288. Objectives of the fund. The fund shall be dedicated to:
 4 1. Providing financial support to eligible institutions for infras-
 5 tructural upgrades and expansion;
 6 2. Facilitating research and development grants in medical and health-
 7 related fields;
 8 3. Offering scholarships and financial aid to students attending
 9 eligible institutions; and
 10 4. Supporting community health initiatives and outreach programs led
 11 by eligible institutions.
 12 § 289. Capitalization of the fund. 1. The initial capitalization of
 13 the fund shall be attained through the issuance of revenue bonds by the
 14 state treasury.
 15 2. Bonds shall be tax-exempt to encourage investments by individual
 16 and institutional investors.
 17 3. The state shall pledge to allocate a portion of annual budgetary
 18 surpluses to the fund to ensure its growth and sustainability, subject
 19 to legislative appropriation.
 20 § 289-a. Administration of the fund. 1. The fund shall be administered
 21 by a board consisting of the chancellor of the state university, the
 22 president of SUNY downstate medical center, and three additional members
 23 appointed by the governor, with advice and consent from the legislature.
 24 2. The board shall meet quarterly to review the performance of the
 25 fund, authorize disbursements, and ensure compliance with the objectives
 26 of this part.
 27 3. An annual report shall be submitted to the legislature detailing
 28 the fund's activities, financial health, and contributions to the eligi-
 29 ble institutions.
 30 § 289-b. Oversight and accountability. 1. The management of the fund
 31 shall be subject to oversight by