STATE OF NEW YORK
________________________________________________________________________
7918
2019-2020 Regular Sessions
IN ASSEMBLY
May 28, 2019
___________
Introduced by M. of A. KIM -- read once and referred to the Committee on
Banks
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 commissioner of education and the
5 superintendent of financial services, shall develop a notice, pamphlet
6 or other written materials regarding responsibilities and repayment
7 options for student loans. Such materials shall include information
8 about consolidation and alternative federal student loan repayment
9 plans, including income-based programs, that do not require consolidat-
10 ing existing federal student loans, that may be available to borrowers.
11 Such materials shall also provide direction to additional resources
12 including the website for the department of financial services' student
13 lending resource center at www.dfs.ny.gov/studentprotection.
14 2. Every employer in the state shall provide to any person hired on or
15 after the effective date of this section a notice with regard to repay-
16 ment of student loans developed in accordance with this section.
17 3. (a) "Student loan" means any loan to a borrower to finance post-
18 secondary education or expenses related to post-secondary education.
19 (b) "Borrower" means any resident of this state who has received a
20 student loan or agreed in writing to pay a student loan or any person
21 who shares a legal obligation with such resident for repaying a student
22 loan.
23 § 2. This act shall take effect on the one hundred eightieth day after
24 it shall have become a law. Effective immediately, any rules and regu-
25 lations necessary for the timely implementation of this act on its
26 effective date shall be promulgated on or before such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11013-01-9