Assembly Bill A3495B

2021-2022 Legislative Session

Relates to requiring new employees to be provided certain information relating to student loan repayment information

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Archive: Last Bill Status - In Senate Committee Banks 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

2021-A3495 - Details

Current Committee:
Senate Banks
Law Section:
Labor Law
Laws Affected:
Add §217-a, Lab L
Versions Introduced in Other Legislative Sessions:
2019-2020: A7918
2023-2024: A1873

2021-A3495 - Summary

Directs the development of materials to be provided to employees relating to student loan repayment information.

2021-A3495 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3495
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2021
                                ___________
 
 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:

   Section  1.  The labor law is amended by adding a new section 217-a to
 read as follows:
   § 217-A. STUDENT LOAN REPAYMENT INFORMATION TO  BE  PROVIDED.  1.  THE
 COMMISSIONER, IN CONSULTATION WITH THE COMMISSIONER OF EDUCATION AND THE
 SUPERINTENDENT  OF  FINANCIAL SERVICES, SHALL DEVELOP A NOTICE, PAMPHLET
 OR OTHER WRITTEN  MATERIALS  REGARDING  RESPONSIBILITIES  AND  REPAYMENT
 OPTIONS  FOR  STUDENT  LOANS.  SUCH  MATERIALS SHALL INCLUDE INFORMATION
 ABOUT CONSOLIDATION  AND  ALTERNATIVE  FEDERAL  STUDENT  LOAN  REPAYMENT
 PLANS,  INCLUDING INCOME-BASED PROGRAMS, THAT DO NOT REQUIRE CONSOLIDAT-
 ING EXISTING FEDERAL STUDENT LOANS, THAT MAY BE AVAILABLE TO  BORROWERS.
 SUCH  MATERIALS  SHALL  ALSO  PROVIDE  DIRECTION TO ADDITIONAL RESOURCES
 INCLUDING THE WEBSITE FOR THE DEPARTMENT OF FINANCIAL SERVICES'  STUDENT
 LENDING RESOURCE CENTER AT WWW.DFS.NY.GOV/STUDENTPROTECTION.
   2. EVERY EMPLOYER IN THE STATE SHALL PROVIDE TO ANY PERSON HIRED ON OR
 AFTER  THE EFFECTIVE DATE OF THIS SECTION A NOTICE WITH REGARD TO REPAY-
 MENT OF STUDENT LOANS DEVELOPED IN ACCORDANCE WITH THIS SECTION.
   3. (A) "STUDENT LOAN" MEANS ANY LOAN TO A BORROWER  TO  FINANCE  POST-
 SECONDARY EDUCATION OR EXPENSES RELATED TO POST-SECONDARY EDUCATION.
   (B)  "BORROWER"  MEANS  ANY  RESIDENT OF THIS STATE WHO HAS RECEIVED A
 STUDENT LOAN OR AGREED IN WRITING TO PAY A STUDENT LOAN  OR  ANY  PERSON
 WHO  SHARES A LEGAL OBLIGATION WITH SUCH RESIDENT FOR REPAYING A STUDENT
 LOAN.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law. Effective immediately, any rules  and  regu-
 lations  necessary  for  the  timely  implementation  of this act on its
 effective date shall be promulgated on or before such effective date.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

2021-A3495A - Details

Current Committee:
Senate Banks
Law Section:
Labor Law
Laws Affected:
Add §217-a, Lab L
Versions Introduced in Other Legislative Sessions:
2019-2020: A7918
2023-2024: A1873

2021-A3495A - Summary

Directs the development of materials to be provided to employees relating to student loan repayment information.

2021-A3495A - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3495--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2021
                                ___________
 
 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:
 
   Section 1. The labor law is amended by adding a new section  217-a  to
 read as follows:
   §  217-A.  STUDENT  LOAN  REPAYMENT INFORMATION TO BE PROVIDED. 1. THE
 COMMISSIONER, IN CONSULTATION WITH THE PRESIDENT OF THE HIGHER EDUCATION
 SERVICES CORPORATION, AND  THE  SUPERINTENDENT  OF  FINANCIAL  SERVICES,
 SHALL  DEVELOP  A  NOTICE, PAMPHLET OR OTHER WRITTEN MATERIALS REGARDING
 RESPONSIBILITIES AND REPAYMENT OPTIONS FOR STUDENT LOANS. SUCH MATERIALS
 SHALL INCLUDE INFORMATION ABOUT CONSOLIDATION  AND  ALTERNATIVE  FEDERAL
 STUDENT  LOAN  REPAYMENT PLANS, INCLUDING INCOME-BASED PROGRAMS, THAT DO
 NOT REQUIRE CONSOLIDATING EXISTING FEDERAL STUDENT LOANS,  THAT  MAY  BE
 AVAILABLE  TO  BORROWERS. SUCH MATERIALS SHALL ALSO PROVIDE DIRECTION TO
 ADDITIONAL RESOURCES INCLUDING THE WEBSITE FOR THE DEPARTMENT OF  FINAN-
 CIAL  SERVICES'  STUDENT  LENDING RESOURCE CENTER.  ADDITIONAL MATERIALS
 SHALL BE DEVELOPED IN THE SAME  MANNER  REGARDING  PUBLIC  SERVICE  LOAN
 FORGIVENESS OR REPAYMENT PROGRAMS.
   2.  EVERY  EMPLOYER  IN  THE  STATE  SHALL PROVIDE UPON HIRING, TO ANY
 PERSON HIRED FOR A POST-GRADUATE INTERNSHIP OR AN  ENTRY-LEVEL  POSITION
 OF EMPLOYMENT THAT REQUIRES AN ASSOCIATE'S DEGREE OR HIGHER, ON OR AFTER
 THE  EFFECTIVE DATE OF THIS SECTION A NOTICE WITH REGARD TO REPAYMENT OF
 STUDENT LOANS DEVELOPED IN ACCORDANCE WITH THIS SECTION,  PROVIDED  THAT
 PUBLIC  EMPLOYERS  SHALL  ADDITIONALLY PROVIDE A NOTICE REGARDING PUBLIC
 SERVICE LOAN FORGIVENESS OR REPAYMENT PROGRAMS.
   3. (A) "STUDENT LOAN" MEANS ANY LOAN TO A BORROWER  TO  FINANCE  POST-
 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.

2021-A3495B (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Labor Law
Laws Affected:
Add §217-a, Lab L
Versions Introduced in Other Legislative Sessions:
2019-2020: A7918
2023-2024: A1873

2021-A3495B (ACTIVE) - Summary

Directs the development of materials to be provided to employees relating to student loan repayment information.

2021-A3495B (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3495--B
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2021
                                ___________
 
 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  --  recommitted  to  the
   Committee  on  Banks  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 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:
 
   Section  1.  The labor law is amended by adding a new section 217-a to
 read as follows:
   § 217-A. STUDENT LOAN REPAYMENT INFORMATION TO  BE  PROVIDED.  1.  THE
 COMMISSIONER, IN CONSULTATION WITH THE PRESIDENT OF THE HIGHER EDUCATION
 SERVICES  CORPORATION,  AND  THE  SUPERINTENDENT  OF FINANCIAL SERVICES,
 SHALL DEVELOP A NOTICE, PAMPHLET OR OTHER  WRITTEN  MATERIALS  REGARDING
 RESPONSIBILITIES AND REPAYMENT OPTIONS FOR STUDENT LOANS. SUCH MATERIALS
 SHALL  INCLUDE  INFORMATION  ABOUT CONSOLIDATION AND ALTERNATIVE FEDERAL
 STUDENT LOAN REPAYMENT PLANS, INCLUDING INCOME-BASED PROGRAMS,  THAT  DO
 NOT  REQUIRE  CONSOLIDATING  EXISTING FEDERAL STUDENT LOANS, THAT MAY BE
 AVAILABLE TO BORROWERS. SUCH MATERIALS SHALL ALSO PROVIDE  DIRECTION  TO
 ADDITIONAL  RESOURCES INCLUDING THE WEBSITE FOR THE DEPARTMENT OF FINAN-
 CIAL SERVICES' STUDENT LENDING RESOURCE CENTER.
   2. EVERY EMPLOYER IN THE STATE SHALL PROVIDE INFORMATION  WITH  REGARD
 TO  REPAYMENT  OF STUDENT LOANS DEVELOPED IN ACCORDANCE WITH SUBDIVISION
 ONE OF THIS SECTION, UPON EMPLOYEE REQUEST.
   3. (A) "STUDENT LOAN" MEANS ANY LOAN TO A BORROWER  TO  FINANCE  POST-
 SECONDARY EDUCATION OR EXPENSES RELATED TO POST-SECONDARY EDUCATION.
   (B)  "BORROWER"  MEANS  ANY  RESIDENT OF THIS STATE WHO HAS RECEIVED A
 STUDENT LOAN OR AGREED IN WRITING TO PAY A STUDENT LOAN  OR  ANY  PERSON
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03116-06-2
 A. 3495--B                          2

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