STATE OF NEW YORK
________________________________________________________________________
1873--A
2023-2024 Regular Sessions
IN ASSEMBLY
January 23, 2023
___________
Introduced by M. of A. KIM -- read once and referred to the Committee on
Banks -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee
AN ACT to amend the labor law, in relation to student loan repayment
information
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The labor law is amended by adding a new section 217-a to
2 read as follows:
3 § 217-a. Student loan repayment information to be provided. 1. The
4 commissioner, in consultation with the president of the higher education
5 services corporation, and the superintendent of financial services,
6 shall develop a notice, pamphlet or other written materials regarding
7 responsibilities and repayment options for student loans. Such materials
8 shall include information about consolidation and alternative federal
9 student loan repayment plans, including income-based programs, that do
10 not require consolidating existing federal student loans, that may be
11 available to borrowers. Such materials shall also provide direction to
12 additional resources including the website for the department of finan-
13 cial services' student lending resource center. Additional materials
14 shall be developed in the same manner regarding public service loan
15 forgiveness or repayment programs.
16 2. Every employer in the state shall provide upon hiring, to any
17 person hired for a post-graduate internship or an entry-level position
18 of employment that requires an associate's degree or higher, on or after
19 the effective date of this section a notice with regard to repayment of
20 student loans developed in accordance with this section, provided that
21 public employers shall additionally provide a notice regarding public
22 service loan forgiveness or repayment programs.
23 3. (a) "Student loan" means any loan to a borrower to finance post-
24 secondary education or expenses related to post-secondary education.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01506-03-3
A. 1873--A 2
1 (b) "Borrower" means any resident of this state who has received a
2 student loan or agreed in writing to pay a student loan or any person
3 who shares a legal obligation with such resident for repaying a student
4 loan.
5 § 2. This act shall take effect on the one hundred eightieth day after
6 it shall have become a law. Effective immediately, the addition, amend-
7 ment and/or repeal of any rule or regulation necessary for the implemen-
8 tation of this act on its effective date are authorized to be made and
9 completed on or before such effective date.
