STATE OF NEW YORK
________________________________________________________________________
6173
2025-2026 Regular Sessions
IN ASSEMBLY
February 26, 2025
___________
Introduced by M. of A. SOLAGES, SANTABARBARA, STECK, JACOBSON, WOERNER,
SIMON, DeSTEFANO, HYNDMAN, SAYEGH, DiPIETRO, GLICK, LUPARDO, MANKTE-
LOW, MILLER, MAGNARELLI, PALMESANO -- read once and referred to the
Committee on Higher Education
AN ACT to establish a committee to study the feasibility of funding a
kindergarten to college/career ready program and a universal college
savings account; and providing for the repeal of such provisions upon
expiration thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. a. There is hereby established a committee to study the
2 feasibility of creating, structuring, managing, marketing, and funding a
3 kindergarten to college/career (K2C/C) ready program and a universal
4 college savings account, the purpose of which shall be to promote indi-
5 vidual financial literacy among low and moderate income families.
6 b. The members of the committee shall be selected as follows: five
7 members of the New York state assembly, appointed by the speaker of the
8 assembly, one of whom shall be a member of the children and families
9 committee, one of whom shall be a member of the education committee, one
10 of whom shall be a member of the ways and means committee, one of whom
11 shall be a member of the banks committee; and one member of the New York
12 state senate, appointed by the temporary president of the senate. The
13 members of the study committee shall elect a chairperson from among the
14 members. Four members of the committee shall constitute a quorum for
15 voting purposes.
16 c. The committee shall study the feasibility of creating, structuring,
17 managing, marketing, and funding a K2C/C ready program and a universal
18 college savings account and asset building program in New York. The
19 committee shall:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10166-01-5
A. 6173 2
1 (1) review the structure and success of the K2C ready program in San
2 Francisco and the status of similar programs in Ohio, Nevada, Washing-
3 ton, and elsewhere in the United States;
4 (2) determine the projected population of kindergarten children to be
5 served;
6 (3) establish contacts with New York banks, credit unions, philan-
7 thropic organizations, and other area financial services that may be
8 involved in similar efforts;
9 (4) explore marketing protocols used in San Francisco and other
10 states;
11 (5) solicit information and testimony from those individuals, agen-
12 cies, and entities that may be of assistance to the committee in the
13 performance of its duties, including but not limited to, the New York
14 state comptroller, a principal of an urban elementary school, and a
15 superintendent of a school district that includes a career and technical
16 education center; and
17 (6) develop a proposal for New York, based on projected kindergarten
18 enrollment during the 2023-2024 and 2024-2025 school years, that
19 addresses the anticipated investment per student, guidelines for account
20 maintenance, application procedures, and administrative costs.
21 d. The first meeting of the committee shall be held within 45 days of
22 the effective date of this act.
23 e. The committee shall report its findings and any recommendations for
24 proposed legislation to the speaker of the assembly, the temporary pres-
25 ident of the senate, the assembly clerk, the senate clerk, the governor,
26 and the state library on or before November 1, 2024. Upon delivery of
27 the report and recommendations, the committee shall be disbanded.
28 § 2. This act shall take effect immediately and shall be repealed
29 November 1, 2026.
