S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9370
 
                           I N  A S S E M B L Y
 
                               March 6, 2024
                                ___________
 
 Introduced  by M. of A. SOLAGES, SANTABARBARA, STECK, ZEBROWSKI, THIELE,
   JACOBSON,  WOERNER,  GUNTHER,  SIMON,  DeSTEFANO,   HYNDMAN,   SAYEGH,
   JEAN-PIERRE,  DiPIETRO, GLICK, LUPARDO, MANKTELOW, MILLER, MAGNARELLI,
   PALMESANO -- read once and referred to the Committee on Higher  Educa-
   tion
 
 AN  ACT  to  establish a committee to study the feasibility of funding a
   kindergarten to college/career ready program and a  universal  college
   savings  account; 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.  a.  There  is hereby established a committee to study the
 feasibility of creating, structuring, managing, marketing, and funding a
 kindergarten to college/career (K2C/C) ready  program  and  a  universal
 college  savings account, the purpose of which shall be to promote indi-
 vidual financial literacy among low and moderate income families.
   b. The members of the committee shall be  selected  as  follows:  five
 members  of the New York state assembly, appointed by the speaker of the
 assembly, one of whom shall be a member of  the  children  and  families
 committee, one of whom shall be a member of the education committee, one
 of  whom  shall be a member of the ways and means committee, one of whom
 shall be a member of the banks committee; and one member of the New York
 state senate, appointed by the temporary president of  the  senate.  The
 members  of the study committee shall elect a chairperson from among the
 members. Four members of the committee shall  constitute  a  quorum  for
 voting purposes.
   c. The committee shall study the feasibility of creating, structuring,
 managing,  marketing,  and funding a K2C/C ready program and a universal
 college savings account and asset building  program  in  New  York.  The
 committee shall:
   (1)  review  the structure and success of the K2C ready program in San
 Francisco and the status of similar programs in Ohio,  Nevada,  Washing-
 ton, and elsewhere in the United States;

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08149-01-3
              

 A. 9370                             2
 
   (2)  determine the projected population of kindergarten children to be
 served;
   (3)  establish  contacts  with  New York banks, credit unions, philan-
 thropic organizations, and other area financial  services  that  may  be
 involved in similar efforts;
   (4)  explore  marketing  protocols  used  in  San  Francisco and other
 states;
   (5) solicit information and testimony from  those  individuals,  agen-
 cies,  and  entities  that  may be of assistance to the committee in the
 performance of its duties, including but not limited to,  the  New  York
 state  comptroller,  a  principal  of  an urban elementary school, and a
 superintendent of a school district that includes a career and technical
 education center; and
   (6) develop a proposal for New York, based on  projected  kindergarten
 enrollment  during  the  2023-2024  and  2024-2025  school  years,  that
 addresses the anticipated investment per student, guidelines for account
 maintenance, application procedures, and administrative costs.
   d. The first meeting of the committee shall be held within 45 days  of
 the effective date of this act.
   e. The committee shall report its findings and any recommendations for
 proposed legislation to the speaker of the assembly, the temporary pres-
 ident of the senate, the assembly clerk, the senate clerk, the governor,
 and  the  state  library on or before November 1, 2024. Upon delivery of
 the report and recommendations, the committee shall be disbanded.
   § 2. This act shall take effect  immediately  and  shall  be  repealed
 November 1, 2024.