New York State Assembly

 
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A03308 Summary:

A03308 Actions:

A03308 Committee Votes:

Committee:HIGHER EDUCATION   Chair:Glick      
DATE:03/22/2022AYE/NAY:22/3  Action: Favorable         
Glick
Aye
Walczyk
Nay
Gottfried
Aye
Smith
Aye
Englebright
Aye
Fitzpatrick
Aye
Cahill
Aye
Reilly
Aye
Cusick
Aye
Salka
Nay
Lupardo
Aye
Smullen
Aye
Stirpe
Aye
Gandolfo
Aye
Fahy
Aye
Simon
Aye
McDonald
Aye
Bichotte Hermel
Aye
Hyndman
Aye
Epstein
Aye
Griffin
Aye
McMahon
Aye
Buttenschon
Nay
Clark
Aye
Forrest
Aye

A03308 Floor Votes:

A03308 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         3308--B
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 22, 2021
                                       ___________
 
        Introduced  by  M.  of  A.  EPSTEIN, GALLAGHER, STECK, JACKSON, FORREST,
          BURDICK, CLARK, MAGNARELLI, GOTTFRIED -- read once and referred to the
          Committee on Higher Education -- committee discharged,  bill  amended,
          ordered  reprinted  as  amended  and  recommitted to said committee --
          recommitted to the Committee on Higher Education  in  accordance  with
          Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered
          reprinted as amended and recommitted to said committee
 
        AN  ACT  to  amend  the  education law, in relation to requiring degree-
          granting institutions of higher education  to  make  certain  biennial
          disclosures
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The education law is amended by adding a new section  239-d
     2  to read as follows:
     3    §  239-d. Biennial disclosures. 1. All degree-granting institutions of
     4  higher education offering registered undergraduate programs  shall  make
     5  and  publish  a  biennial  report disclosing the following, based on the
     6  most recent data or calculations available,  and  based  on  audited  or
     7  agency-reviewed data whenever available:
     8    (a) whether such institution is a degree-granting proprietary institu-
     9  tion  of  higher education, a non-profit institution of higher education
    10  or a public institution of higher education;
    11    (b) except for public institutions of higher education, the  ownership
    12  or ownership interest and control of such institution;
    13    (c)  whether  the  institution  has  the  authority to confer two-year
    14  degrees, four-year degrees or both;
    15    (d) a schedule of all tuition,  mandatory  fees  and  other  mandatory
    16  costs  to attend such institution, per semester or, when applicable, per
    17  quarter;
    18    (e) in the case of  any  degree-granting  proprietary  institution  of
    19  higher  education, the gross profit of such institution as stated in the
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02239-04-1
        A. 3308--B                          2
 
     1  institution's most recent audited financial statement shall be  reported
     2  as a dollar amount;
     3    (f)  the  amount of any dividends paid or distributions of any part of
     4  such institution's income or profits;
     5    (g) the amount of spending on  instruction,  post-enrollment  academic
     6  support,  and  post-enrollment  student  services determined in a manner
     7  consistent with the spending categories used by the  federal  Integrated
     8  Postsecondary  Education  Data System except the amounts (i) may include
     9  expenses for course design and instructor support  related  to  distance
    10  learning,  and  (ii) shall exclude expenses for advertising, recruiting,
    11  admissions, and other activities related to students not yet enrolled in
    12  an institution.  In the case of publicly funded institutions,  reporting
    13  of such expenses is required when those expenses exceed two  percent  of
    14  the operating funds derived from state sources;
    15    (h) executive compensation of such institution, including, in the case
    16  of  proprietary institutions, dividends, distributions, and increases in
    17  the value of ownership interests, expressed both as a dollar amount  and
    18  as a percentage of the overall budget of such institution;
    19    (i)  marketing  and  recruitment  expenditures as stated in the insti-
    20  tution's most recently audited financial statement  shall  be  expressed
    21  both  as  a  dollar  amount and as a percentage of the overall budget of
    22  such institution.  In the case of publicly funded institutions,  report-
    23  ing of such expenses is required when those expenses exceed two  percent
    24  of the operating funds derived from state sources; and
    25    (j)  when  such information is publicly available or accessible to the
    26  institution:
    27    (i) median earnings one year after graduating  from  such  institution
    28  separated by program;
    29    (ii)  the  percentage of students who take out federal loans to attend
    30  such institution;
    31    (iii) the average dollar amount of federal loans taken out by students
    32  to attend such institution;
    33    (iv) the average dollar amount of private loans taken out by  students
    34  to attend such institution;
    35    (v)  the amount in dollars that such institution receives from the New
    36  York state tuition assistance program;
    37    (vi) the percentage of students who took out a federal loan to  attend
    38  such institution who have repaid at least one dollar of the principal of
    39  such loan within five years of leaving such institution; and
    40    (vii)  the  default  rate after three, five, and ten years of students
    41  who took out a federal loan (or private loan,  if  such  information  is
    42  accessible to the institution) to attend such institution.
    43    2. (a) Biennially on or before the first day of July, each institution
    44  of  higher  education  shall  conspicuously  publish the report prepared
    45  pursuant to subdivision one of this  section  on  the  website  of  such
    46  institution and submit the website address of such report to the depart-
    47  ment.
    48    (b)  The commissioner shall publish and maintain a list of all website
    49  addresses received pursuant to paragraph (a) of this subdivision on  the
    50  website of the department.
    51    §  2. This act shall take effect on the first of January next succeed-
    52  ing the date on which it shall have become a law. Effective immediately,
    53  the addition, amendment and/or repeal of any rule or  regulation  neces-
    54  sary  for  the  implementation  of  this  act  on its effective date are
    55  authorized to be made and completed on or before such effective date.