Bill Text: NY A04575 | 2009-2010 | General Assembly | Introduced

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Bill Title: An act to amend the education law, in relation to requiring institutions of higher education to maintain and report information on students withdrawing from such institutions because of credit card debt, and to provide new students a course of instruction on the implications of establishing a bad credit rating, and authorizing such institutions to regulate the on campus activities of credit card issuers; and providing for the repeal of certain provisions upon expiration thereof

Spectrum: Slight Partisan Bill (Democrat 15-7)

Status: (Introduced - Dead) 2010-01-06 - referred to higher education [A04575 Detail]

Download: New_York-2009-A04575-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4575
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 5, 2009
                                      ___________
       Introduced  by  M. of A. P. RIVERA, ORTIZ -- Multi-Sponsored by -- M. of
         A. ALFANO,  BACALLES,  BARRA,  CALHOUN,  COOK,  CYMBROWITZ,  DINOWITZ,
         ESPAILLAT, FINCH, GREENE, HEASTIE, MAGEE, McDONOUGH, McENENY, MILLMAN,
         J. RIVERA,  N. RIVERA,  ROBINSON,  TOWNS,  TOWNSEND  --  read once and
         referred to the Committee on Higher Education
       AN ACT to amend the education law, in relation to requiring institutions
         of higher education to maintain and  report  information  on  students
         withdrawing from such institutions because of credit card debt, and to
         provide  new  students  a course of instruction on the implications of
         establishing a bad credit rating, and authorizing such institutions to
         regulate the on campus activities of credit card issuers; and  provid-
         ing for the repeal of certain provisions upon expiration thereof
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 6430 of the education law is amended by adding  two
    2  new subdivisions 7 and 8 to read as follows:
    3    7.  A.  THE  TRUSTEES  OR OTHER GOVERNING BODY OF EVERY INSTITUTION OF
    4  HIGHER EDUCATION IN THIS STATE SHALL ADOPT AND IMPLEMENT RULES AND REGU-
    5  LATIONS REQUIRING THAT EVERY STUDENT WHO WITHDRAWS  FROM  SUCH  INSTITU-
    6  TION,  FOR  A  REASON  OTHER THAN DEATH OR GRADUATION, BE INTERVIEWED TO
    7  DETERMINE WHETHER  SUCH  WITHDRAWAL  WAS  CAUSED  BY  CREDIT  CARD  DEBT
    8  INCURRED  BY  THE  STUDENT. SUCH RULES AND REGULATIONS SHALL REQUIRE THE
    9  MAINTENANCE OF RECORDS OF THOSE STUDENTS WITHDRAWING AS  THE  RESULT  OF
   10  CREDIT CARD DEBT.
   11    B.  EACH SUCH INSTITUTION SHALL ANNUALLY SUBMIT A REPORT, ON OR BEFORE
   12  THE FIFTEENTH DAY OF OCTOBER, TO THE GOVERNOR,  TEMPORARY  PRESIDENT  OF
   13  THE  SENATE  AND  SPEAKER  OF THE ASSEMBLY ON THE NUMBER OF STUDENTS WHO
   14  HAVE WITHDRAWN FROM THE INSTITUTION  DURING  THE  IMMEDIATELY  PRECEDING
   15  ACADEMIC YEAR.
   16    C. THE TRUSTEES OR OTHER GOVERNING BODY OF EVERY INSTITUTION OF HIGHER
   17  EDUCATION  IN  THIS STATE SHALL ESTABLISH A COURSE OF INSTRUCTION, TO BE
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06642-01-9
       A. 4575                             2
    1  ADMINISTERED DURING THE ORIENTATION OF ALL NEWLY ADMITTED  STUDENTS,  ON
    2  THE  IMPLICATIONS  OF  ESTABLISHING  A BAD CREDIT RATING. SUCH COURSE OF
    3  INSTRUCTION SHALL CONSTITUTE A CREDIT COURSE.
    4    D.  FOR THE PURPOSES OF THIS SUBDIVISION, "CREDIT CARD" SHALL HAVE THE
    5  SAME MEANING AS ASCRIBED TO SUCH TERM BY SECTION FIVE HUNDRED ELEVEN  OF
    6  THE GENERAL BUSINESS LAW.
    7    8.  A.  THE  TRUSTEES  OR OTHER GOVERNING BODY OF EVERY INSTITUTION OF
    8  HIGHER EDUCATION IN THIS STATE SHALL ADOPT AND IMPLEMENT RULES AND REGU-
    9  LATIONS:
   10    (1) PROHIBITING ISSUERS OF CREDIT CARDS, WHILE ON THE CAMPUS  OF  SUCH
   11  INSTITUTION,  FROM OFFERING ANY INCENTIVE TO STUDENTS WHO AGREE TO APPLY
   12  FOR A CREDIT CARD;
   13    (2) REQUIRING EVERY ISSUER OF CREDIT CARDS TO REGISTER WITH THE INSTI-
   14  TUTION PRIOR TO ANY SOLICITATION UPON THE CAMPUS THEREOF; AND
   15    (3) REQUIRING EVERY ISSUER OF CREDIT CARDS TO PROVIDE  DEBT  EDUCATION
   16  MATERIALS AT EACH ON CAMPUS SITE FOR THE SOLICITATION OF THE ISSUANCE OF
   17  A CREDIT CARD.
   18    B. THE REQUIREMENTS OF THIS SUBDIVISION SHALL BE DEEMED TO BE IN ADDI-
   19  TION  TO THE REQUIREMENTS APPLICABLE TO ISSUERS OF CREDIT CARDS PURSUANT
   20  TO ANY OTHER PROVISION OF LAW.
   21    C. THE TERMS "CREDIT CARD" AND "ISSUER" SHALL HAVE THE  SAME  MEANINGS
   22  AS  ARE  ASCRIBED  TO  SUCH  TERMS BY SECTION FIVE HUNDRED ELEVEN OF THE
   23  GENERAL BUSINESS LAW.
   24    S 2. This act shall take effect on the ninetieth day  after  it  shall
   25  have become a law, provided that paragraph b of subdivision 7 of section
   26  6430  of  the  education law, as added by section one of this act, shall
   27  expire and be deemed repealed October 16, 2012.