Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2020 |
referred to higher education |
May 01, 2019 |
referred to higher education |
Assembly Bill A7406
2019-2020 Legislative Session
Sponsored By
GLICK
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
Actions
co-Sponsors
Donna Lupardo
2019-A7406 (ACTIVE) - Details
2019-A7406 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7406 2019-2020 Regular Sessions I N A S S E M B L Y May 1, 2019 ___________ Introduced by M. of A. GLICK -- read once and referred to the Committee on Higher Education AN ACT to amend the state finance law, in relation to establishing the public higher education quality initiative endowment fund; and to repeal section 92-ee of such law relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 92-ee of the state finance law is REPEALED and a new section 92-ee is added to read as follows: § 92-EE. PUBLIC HIGHER EDUCATION QUALITY INITIATIVE ENDOWMENT FUND. 1. THERE IS HEREBY ESTABLISHED IN THE CUSTODY OF THE COMPTROLLER A FUND TO BE KNOWN AS THE "PUBLIC HIGHER EDUCATION QUALITY INITIATIVE ENDOWMENT", HEREINAFTER, "THE ENDOWMENT." NOTWITHSTANDING ANY OTHER PROVISIONS OF LAW, ALL OF THE ASSETS AND INCOME OF THE ENDOWMENT SHALL BE HELD AND INVESTED BY THE COMPTROLLER AS THE SOLE TRUSTEE OF SUCH ENDOWMENT, EXCEPT SUCH INCOME AS MAY BE ALLOCATED OR DISTRIBUTED BY THE COMPTROLLER PURSUANT TO APPROPRIATION. 2. THE ENDOWMENT SHALL CONSIST OF AMOUNTS APPROPRIATED OR TRANSFERRED INTO SUCH ENDOWMENT, AND ANY OTHER AMOUNTS AS MAY BE DEPOSITED IN THE ENDOWMENT FROM ANY OTHER PUBLIC OR PRIVATE SOURCES. AMOUNTS APPROPRIATED TO, TRANSFERRED TO, OR DEPOSITED INTO THE ENDOWMENT SHALL BE DEDICATED TO THE SOLE PURPOSE OF HIRING FULL-TIME FACULTY AND PROFESSIONAL STAFF AT THE STATE UNIVERSITY OF NEW YORK, THE CITY UNIVERSITY OF NEW YORK AND THEIR COMMUNITY COLLEGES AND SHALL NOT BE USED TO HIRE ADDITIONAL RESEARCH FACULTY OR STAFF TO BE EMPLOYED AT THE STATE UNIVERSITY OF NEW YORK RESEARCH FOUNDATION, CITY UNIVERSITY OF NEW YORK RESEARCH FOUNDA- TION OR ANY CAMPUS FOUNDATION OR AFFILIATED ENTITY OF THE STATE UNIVER- SITY OF NEW YORK OR CITY UNIVERSITY OF NEW YORK. PROVIDED FURTHER, MONEYS IN THE ENDOWMENT MAY NOT BE INTERCHANGED OR COMMINGLED WITH ANY OTHER ACCOUNT OR FUND. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05003-02-9
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