S T A T E   O F   N E W   Y O R K
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                                  2177--A
                                                          Cal. No. 27
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2023
                                ___________
 
 Introduced  by  M.  of  A.  EPSTEIN, GALLAGHER, STECK, JACKSON, FORREST,
   BURDICK, CLARK,  MAGNARELLI,  SEAWRIGHT,  WALLACE  --  read  once  and
   referred to the Committee on Higher Education -- reported from commit-
   tee,  advanced  to  a  third  reading,  amended and ordered reprinted,
   retaining its place on the order of third reading
 
 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:
 
   Section  1. The education law is amended by adding a new section 239-c
 to read as follows:
   § 239-C. BIENNIAL DISCLOSURES. 1. ALL DEGREE-GRANTING INSTITUTIONS  OF
 HIGHER  EDUCATION  OFFERING REGISTERED UNDERGRADUATE PROGRAMS SHALL MAKE
 AND PUBLISH A BIENNIAL REPORT DISCLOSING THE  FOLLOWING,  BASED  ON  THE
 MOST  RECENT  DATA  OR  CALCULATIONS  AVAILABLE, AND BASED ON AUDITED OR
 AGENCY-REVIEWED DATA WHENEVER AVAILABLE:
   (A) WHETHER SUCH INSTITUTION IS A DEGREE-GRANTING PROPRIETARY INSTITU-
 TION OF HIGHER EDUCATION, A NON-PROFIT INSTITUTION OF  HIGHER  EDUCATION
 OR A PUBLIC INSTITUTION OF HIGHER EDUCATION;
   (B)  EXCEPT FOR PUBLIC INSTITUTIONS OF HIGHER EDUCATION, THE OWNERSHIP
 OR OWNERSHIP INTEREST AND CONTROL OF SUCH INSTITUTION;
   (C) WHETHER THE INSTITUTION  HAS  THE  AUTHORITY  TO  CONFER  TWO-YEAR
 DEGREES, FOUR-YEAR DEGREES OR BOTH;
   (D)  A  SCHEDULE  OF  ALL  TUITION, MANDATORY FEES AND OTHER MANDATORY
 COSTS TO ATTEND SUCH INSTITUTION, PER SEMESTER OR, WHEN APPLICABLE,  PER
 QUARTER;
   (E)  IN  THE  CASE  OF  ANY DEGREE-GRANTING PROPRIETARY INSTITUTION OF
 HIGHER EDUCATION, THE GROSS PROFIT OF SUCH INSTITUTION AS STATED IN  THE
 INSTITUTION'S  MOST RECENT AUDITED FINANCIAL STATEMENT SHALL BE REPORTED
 AS A DOLLAR AMOUNT;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD01861-05-3
 A. 2177--A                          2
 
   (F) THE AMOUNT OF SPENDING ON  INSTRUCTION,  POST-ENROLLMENT  ACADEMIC
 SUPPORT,  AND  POST-ENROLLMENT  STUDENT  SERVICES DETERMINED IN A MANNER
 CONSISTENT WITH THE SPENDING CATEGORIES USED BY THE  FEDERAL  INTEGRATED
 POSTSECONDARY  EDUCATION  DATA SYSTEM EXCEPT THE AMOUNTS (I) MAY INCLUDE
 EXPENSES  FOR  COURSE  DESIGN AND INSTRUCTOR SUPPORT RELATED TO DISTANCE
 LEARNING, AND (II) SHALL EXCLUDE EXPENSES FOR  ADVERTISING,  RECRUITING,
 ADMISSIONS, AND OTHER ACTIVITIES RELATED TO STUDENTS NOT YET ENROLLED IN
 AN INSTITUTION.  IN THE CASE OF PUBLICLY FUNDED INSTITUTIONS,  REPORTING
 OF  SUCH  EXPENSES IS REQUIRED WHEN THOSE EXPENSES EXCEED TWO PERCENT OF
 THE OPERATING FUNDS DERIVED FROM STATE SOURCES;
   (G) MARKETING AND RECRUITMENT EXPENDITURES AS  STATED  IN  THE  INSTI-
 TUTION'S  MOST  RECENTLY  AUDITED FINANCIAL STATEMENT SHALL BE EXPRESSED
 BOTH AS A DOLLAR AMOUNT AND AS A PERCENTAGE OF  THE  OVERALL  BUDGET  OF
 SUCH INSTITUTION.  IN THE CASE OF PUBLICLY FUNDED INSTITUTIONS,  REPORT-
 ING  OF SUCH EXPENSES IS REQUIRED WHEN THOSE EXPENSES EXCEED TWO PERCENT
 OF THE OPERATING FUNDS DERIVED FROM STATE SOURCES; AND
   (H) WHEN SUCH INFORMATION IS PUBLICLY AVAILABLE OR ACCESSIBLE  TO  THE
 INSTITUTION:
   (I)  MEDIAN  EARNINGS  ONE YEAR AFTER GRADUATING FROM SUCH INSTITUTION
 SEPARATED BY PROGRAM;
   (II) THE PERCENTAGE OF STUDENTS WHO TAKE OUT FEDERAL LOANS  TO  ATTEND
 SUCH INSTITUTION;
   (III) THE AVERAGE DOLLAR AMOUNT OF FEDERAL LOANS TAKEN OUT BY STUDENTS
 TO ATTEND SUCH INSTITUTION;
   (IV)  THE AVERAGE DOLLAR AMOUNT OF PRIVATE LOANS TAKEN OUT BY STUDENTS
 TO ATTEND SUCH INSTITUTION;
   (V) THE AMOUNT IN DOLLARS THAT SUCH INSTITUTION RECEIVES FROM THE  NEW
 YORK STATE TUITION ASSISTANCE PROGRAM;
   (VI)  THE PERCENTAGE OF STUDENTS WHO TOOK OUT A FEDERAL LOAN TO ATTEND
 SUCH INSTITUTION WHO HAVE REPAID AT LEAST ONE DOLLAR OF THE PRINCIPAL OF
 SUCH LOAN WITHIN FIVE YEARS OF LEAVING SUCH INSTITUTION; AND
   (VII) THE DEFAULT RATE AFTER THREE, FIVE, AND TEN  YEARS  OF  STUDENTS
 WHO  TOOK  OUT  A  FEDERAL LOAN (OR PRIVATE LOAN, IF SUCH INFORMATION IS
 ACCESSIBLE TO THE INSTITUTION) TO ATTEND SUCH INSTITUTION.
   2. (A) BIENNIALLY ON OR BEFORE THE FIRST DAY OF JULY, EACH INSTITUTION
 OF HIGHER EDUCATION SHALL  CONSPICUOUSLY  PUBLISH  THE  REPORT  PREPARED
 PURSUANT  TO  SUBDIVISION  ONE  OF  THIS  SECTION ON THE WEBSITE OF SUCH
 INSTITUTION AND SUBMIT THE WEBSITE ADDRESS OF SUCH REPORT TO THE DEPART-
 MENT.
   (B) THE COMMISSIONER SHALL PUBLISH AND MAINTAIN A LIST OF ALL  WEBSITE
 ADDRESSES  RECEIVED PURSUANT TO PARAGRAPH (A) OF THIS SUBDIVISION ON THE
 WEBSITE OF THE DEPARTMENT.
   § 2. This act shall take effect on the first of January next  succeed-
 ing the date on which it shall have become a law. Effective immediately,
 the  addition,  amendment and/or repeal of any rule or regulation neces-
 sary for the implementation of  this  act  on  its  effective  date  are
 authorized to be made and completed on or before such effective date.