Assembly Bill A5748

2023-2024 Legislative Session

Allows withdrawals from family tuition accounts to pay for treatment of substance use disorder for the designated beneficiary

download bill text pdf

Sponsored By

Current 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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2023-A5748 (ACTIVE) - Details

See Senate Version of this Bill:
S6729
Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Amd §695-e, Ed L

2023-A5748 (ACTIVE) - Summary

Allows withdrawals from family tuition accounts to pay for treatment of substance use disorder, including detoxification and rehabilitation for the designated beneficiary.

2023-A5748 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5748
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 23, 2023
                                ___________
 
 Introduced by M. of A. SLATER -- read once and referred to the Committee
   on Higher Education
 
 AN ACT to amend the education law, in relation to family tuition account
   withdrawals for treatment of substance use disorder
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 5 of section 695-e of  the  education  law,  as
 amended  by  chapter  593  of  the  laws  of 2003, is amended to read as
 follows:
   5. A. An account owner may withdraw all or part of the balance from an
 account on sixty days notice or such shorter period as may be authorized
 under rules governing the program. Such rules shall  include  provisions
 that  will generally enable the determination as to whether a withdrawal
 is a nonqualified withdrawal or a qualified withdrawal.
   B. FOR PURPOSES OF THIS  SUBDIVISION,  A  QUALIFIED  WITHDRAWAL  SHALL
 INCLUDE A WITHDRAWAL IN WHICH THE ACCOUNT OWNER WITHDRAWS ALL OR PART OF
 A  BALANCE  FROM AN ACCOUNT TO FUND TREATMENT OF SUBSTANCE USE DISORDER,
 INCLUDING DETOXIFICATION AND REHABILITATION, FOR THE DESIGNATED  BENEFI-
 CIARY.    SUCH  TREATMENT  SHALL  CONSIST  OF AT LEAST FIFTEEN HOURS AND
 INCLUDE, BUT NEED NOT BE LIMITED  TO,  CLASSROOM  INSTRUCTION  IN  AREAS
 DEEMED SUITABLE BY THE COMMISSIONER.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01838-01-3

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