Senate Bill S5120A

2017-2018 Legislative Session

Establishes a private student loan refinance task force

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Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

2017-S5120 - Details

Current Committee:
Assembly Higher Education
Law Section:
Education
Versions Introduced in Other Legislative Sessions:
2019-2020: S250
2021-2022: S2767

2017-S5120 - Summary

Establishes a private student loan refinance task force to study and report on ways lending institutions offering private student loans to graduates of institutions of higher education can be encouraged to establish student loan refinancing programs.

2017-S5120 - Sponsor Memo

2017-S5120 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5120
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               March 8, 2017
                                ___________
 
 Introduced  by Sen. HAMILTON -- read twice and ordered printed, and when
   printed to be committed to the Committee on Higher Education
 
 AN ACT to establish a private student loan  refinance  task  force;  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:
 
   Section 1. There is hereby established the private student loan  refi-
 nance task force. The purpose of such task force is to study and analyze
 ways  lending  institutions that offer private student loans to New York
 graduates of institutions of higher  education  can  be  incentives  and
 encouraged to create student loan refinance programs.
   § 2. The private student loan refinance task force shall consist of 11
 members and shall include: the state comptroller or his or her designee,
 the  superintendent  of  financial  services or his or her designee, the
 president of the higher education services corporation  or  his  or  her
 designee,  the  chairs  and  ranking  minority members of the senate and
 assembly committees on  higher  education  or  their  designees,  and  4
 members  appointed by the governor from lending institutions in New York
 that offer private student loans. All appointments  of  members  of  the
 private  student  loan  refinance task force shall be made no later than
 thirty days after the effective date of this act.
   § 3. The president of the higher education services corporation  shall
 be  designated  as the chairperson of the private student loan refinance
 task force. The members of the private student loan refinance task force
 shall serve without compensation, except that members shall  be  allowed
 their necessary and actual expenses incurred in the performance of their
 duties under this act.
   §  4.  The  private  student  loan  refinance task force shall issue a
 report of its findings and recommendations to the governor,  the  tempo-
 rary  president  of  the senate and the speaker of the assembly no later
 than December 31, 2017.
   § 5. This act shall take effect immediately and shall  expire  and  be
 deemed repealed January 1, 2018.

co-Sponsors

2017-S5120A (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education
Versions Introduced in Other Legislative Sessions:
2019-2020: S250
2021-2022: S2767

2017-S5120A (ACTIVE) - Summary

Establishes a private student loan refinance task force to study and report on ways lending institutions offering private student loans to graduates of institutions of higher education can be encouraged to establish student loan refinancing programs.

2017-S5120A (ACTIVE) - Sponsor Memo

2017-S5120A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5120--A
     Cal. No. 241
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               March 8, 2017
                                ___________
 
 Introduced by Sens. HAMILTON, HELMING -- read twice and ordered printed,
   and  when printed to be committed to the Committee on Higher Education
   -- recommitted to the Committee on Higher Education in accordance with
   Senate Rule 6, sec. 8  --  reported  favorably  from  said  committee,
   ordered  to first and second report, amended on second report, ordered
   to a third reading, and to be  reprinted  as  amended,  retaining  its
   place in the order of third reading
 
 AN  ACT  to  establish  a private student loan refinance task force; 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:
 
   Section  1. There is hereby established the private student loan refi-
 nance task force. The purpose of such task force is to study and analyze
 ways lending institutions that offer private student loans to  New  York
 graduates  of  institutions  of  higher  education can be incentives and
 encouraged to create student loan refinance programs.
   § 2. The private student loan refinance task force shall consist of 11
 members and shall include: the state comptroller or his or her designee,
 the superintendent of financial services or his  or  her  designee,  the
 president  of  the  higher  education services corporation or his or her
 designee, the chairs and ranking minority  members  of  the  senate  and
 assembly  committees  on  higher  education  or  their  designees, and 4
 members appointed by the governor from lending institutions in New  York
 that  offer  private  student  loans. All appointments of members of the
 private student loan refinance task force shall be made  no  later  than
 thirty days after the effective date of this act.
   §  3. The president of the higher education services corporation shall
 be designated as the chairperson of the private student  loan  refinance
 task force. The members of the private student loan refinance task force
 shall  serve  without compensation, except that members shall be allowed
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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